NUMB:
981649
VERS:
SUBSTITUTE 1
...REF:
XXBY:
THE CHAIR
TITL:
Substitute resolution approving a Governmental Lease Purchase Agreement between TEACH Wisconsin (the "Lessor") and the City of Milwaukee (the "Lessee").
ANLS:
- Analysis -
Resolution provides for approval of a Governmental Lease Purchase Agreement between the City and the State of Wisconsin relating to a Technology for Educational Achievement in Wisconsin Board (TEACH) lease.
BODY:
Whereas, The Milwaukee Public Library Board (the "Board") is in need of moneys for acquiring, installing and upgrading network wiring which may include any or all of the following: equipment racks and panels for services in telecommunication closets; wiring for voice and data; fiber and coaxial cable; wireless LAN hardware and fiber; and related electrical upgrades, design and construction costs, including any asbestos removal and professional fees (collectively, the "Project"); and
Whereas, Technology for Educational Achievement in Wisconsin Board ("TEACH") has transmitted and the Board has received a letter of award (the "Commitment") from TEACH in connection with the Project; and
Whereas, Pursuant to Section 43.58, Wisconsin Statutes, the Board has exclusive control of the expenditure of all moneys collected, donated, or appropriated for the library fund, and shall audit and approve all vouchers for the expenditures of the Public Library and forward the vouchers or schedules covering the same, setting forth the name of the claimants, the amounts of each claim and the purpose for which expended to the appropriate municipal officer with the statement thereon, signed by the Board's secretary or other designee of the Board, that the expenditure has been incurred and that the Board has audited and approved the bill; and
Whereas, Pursuant to Section 43.58, Wisconsin Statutes, the City of Milwaukee (the "Municipality") shall pay the bills submitted by the Board; and
Whereas, The Municipality intends to enter into an Intergovernmental Cooperation Agreement By and Among TEACH, the Municipality and the Board to facilitate the loan of moneys from TEACH to the Municipality for the Board to pay a portion of the costs of the Project; and
Whereas, The Municipality hereby finds and determines that it is in the best interest of the Municipality to finance the cost of the Project on behalf of the Board by entering into a lease purchase agreement (the "Lease") with TEACH pursuant to the terms and conditions of the TEACH wiring loan program, the Commitment and the Lease; and
Whereas, Pursuant to Section 43.58, Wisconsin Statutes, the Board shall have exclusive charge, control and custody of all property, including the Project, given or granted to, or otherwise acquired or leased by, the Municipality for library purposes; and
Whereas, TEACH and the Municipality intend to enter into the Lease for the benefit of the Board; and
Whereas, The Lease shall be in substantially the form presented at this meeting of the Common Council; shall provide for the leasing of components of the Project more particularly described in Exhibit A attached to the Lease (and defined therein as the "Property"); and shall be in a principal amount not to exceed $402,750; now, therefore, be it
Resolved, By the Common Council of the Municipality that:
Section 1. Approval of the Project and Acquisition of the Property. The Common Council hereby finds and determines, pursuant to the Constitution and laws of the State of Wisconsin, that the Project serves a "public purpose" and the Common Council hereby authorizes and approves the leasing of the Property, all in accordance with the terms and provisions of the Lease.
Section 2. Approval and Execution of the Lease. The Lease, in substantially the form presented to this meeting of the Common Council, is in all respects approved, authorized and confirmed, and the Mayor, Comptroller and City Clerk of the Municipality, or others authorized by law to sign on their behalf, are authorized and directed to execute and deliver the Lease in substantially the form and with substantially the same content as presented to this meeting of the Board, for and on behalf of the Municipality.
Section 3. Execution of Documents. The Mayor, Comptroller and City Clerk of the Municipality, or other appropriate officers or agents of the Municipality, are hereby authorized to execute and deliver for and on behalf of the Municipality any and all additional certificates, documents, instruments and other papers and to perform all other acts that they may deem necessary or appropriate, in order to implement and carry out the transactions and other matters authorized by this resolution.
Section 6. Effective Date. This resolution shall be in full force and effect immediately upon its adoption and approval in the manner provided by law.
ZDPT: Milwaukee Public Library
DFTR: City Attorney