O-26-01 04/09/2001VILLAGE OF LEMONT
oRDnvarrcE(� -a�- Dl
AN ORDINANCE AUTHORIZING ADOPTION OF A
LEASE - PURCHASE AGREEMENT WITH FORD MOTOR
COMPANY
ADOPTED BY THE PRESIDENTAND BOARD OF
TRUSTEES OF THE VILLAGE OF LEMONT
Published in pamphlet form
By authority of the President
And Board of Trustees of the
Village of Lemont, Counties
Of Cook, Will and DuPage,
Illinois this day of
, 2001.
ORDINANCE
ORDINANCE AUTHORIZING ADOPTION OF A
LEASE /PURCHASE AGREEMENT WITH FORD MOTOR CREDIT CORP.
WHEREAS, on October 9, 2000, the Village Board approved the purchase of two 1 -Ton
Dump Trucks from Northwest Ford in the amount of $72,126.60; and
WHEREAS, it is necessary to adopt a formal lease agreement to complete delivery of the
vehicle.
NOW, THEREFORE, BE IT ORDAINED by the President and Board of Trustees that the
attached Lease/Purchase Agreement with Ford Motor Credit Company is hereby approved.
PASSED AND APPROVED BY THE PRESIDENT AND BOARD OF TRUSTEES OF
THE VILLAGE OF LEMONT, COUNTIES OF COOK, WILL, AND DU PAGE, ILLINOIS,
on this 9th day of April , 2001.
John Benik
Debby Blatzer
Keith Latz
Connie Markiewicz
Richard Rimbo
Mary Studebaker
Approved by me this 9th day of
ATTEST:
AYES NAYS PASSED ABSENT
V
CHARLENE SMOLLEN, Village Clerk
, 2001
RICH • ' r A. KWASNESKI, Village President
HARLENE SMOLLEN, Village Clerk
Approved to form:
/s/ John Antonopoulos
Village Attorney
Ford Motor Credit Company
The Honorable Richard A. Kwasneski, Mayor
Village of Lemont, Public Works Department
14574 127th Street
Lemont, IL 60439
1 American Road
P.O. Box 1739
Dearbom, Michigan 48121 -1739
March 21, 2001
Subject: Master Equipment Lease - Purchase Agreement - Lease No. 6505500
Dear Mayor Kwasneski:
Enclosed are the subject documents for the Equipment being acquired from Northwest Ford Truck Center, Inc..
Please review the following documentation for accuracy:
• Amendment - Please sign where indicated. If not appropriate, line through the form and return
unsigned.
• Schedule 6505502, Page 1 - Please sign where indicated.
• Delivery and Acceptance Certificate(s) - Please sign and indicate the date the Equipment was
accepted by you or your authorized representative.
• Temporary insurance Form - Please complete and sign where indicated.
• 8038 -GC - Please review and sign where indicated. On your behalf, we will forward the signed original
form to the IRS.
Also enclosed is an invoice for the first payment check payable to Ford Motor Credit Company in the amount of
$2,215.64 for the first payment. Please return the check and all signed original documents by 3/29/01,
preferably to the express mail address below. If documents cannot be returned by this date, or if you have any
questions, please call me at 1- 800 -241 -4199, Ext. 2, 172, and refer to Schedule 6505502.
Overnight/Express Delivery
Ford Motor Credit Company
Commercial Lending - MD 7500
1 American Road, Suite 2277
Dearborn, MI 48126
ATTN: Patricia Walker, Municipal Finance
U.S. Regular Mail
Ford Motor Credit Company
Commercial Lending - MD 7500
P. O. Box 1739, Suite 2277
Dearbom, MI 48121 -1739
ATTN: Patricia Walker, Municipal Finance
After the documents are signed for Ford Motor Credit Company, a set of copies will be sent to you.
Enclosures
Sincerely,
Linda Adhmus
Municipal Finance
PLEASE NOTE: The interest rate may be subject to a rate increase or require a rate extension fee if the
documents are not retumed by 06/30/2001.
INVOICE
March 21, 2001
LESSEE:
Village of Lemont
Public Works Department
14574 127th Street
Lemont, IL 60439
REMIT PAYMENT TO:
FORD MOTOR CREDIT COMPANY
MUNICIPAL FINANCE
P. O. BOX 1739 - MD 7500
DEARBORN, MI 48121 -1739
PLEASE RETURN A COPY OF THIS INVOICE WITH YOUR PAYMENT
ACCOUNT
NUMBER
FIRST
PAYMENT
DUE DATE
DESCRIPTION
PAYMENT
AMOUNT
6505502
03/22/2001
(1) 2001 Ford F550 With 9 -Ft. Crysteel Dump
Body, 9 -Ft. Western Unimount Snow Plow and
Monroe Spreader (1 FDAF57F51 EB32052,
30072994, 4400175 and 00- 09- 3888); and (1)
2001 Ford F550 With 9 -Ft. Crysteel Dump Body,
9 -Ft. Western Unimount Snow Plow and Monroe
Spreader (1 FDAF57F31 EB32051, 3072993,
5000092, 00 -09 -3887)
$2,215.64
PLEASE REMIT:
$2,215.64
If you have any questions regarding this invoice, please call Linda Adamus
(800 - 241 -4199, Ext. 2, 172).
SCHEDULE 6505502 - MASTER EQUIPMENT LEASE - PURCHASE AGREEMENT
Lease No. 6505500
AMENDMENT
That certain Master Equipment Lease - Purchase Agreement, by and between Ford Motor
Credit Company ( "Lessor") and Village of Lemont ( "Lessee "), dated as of March 22, 2001 (the
"Lease ") is hereby amended as follows:
Lessee has not issued, and reasonably anticipates that it and its
subordinate entities will not issue, tax - exempt obligations (including this
Lease) in the amount of more than $10,000,000 during the current
calendar year; hereby designates this Lease as a "qualified tax - exempt
obligation" within the meaning of Section 265(b)(3) of the Internal Revenue
Code of 1986, as amended, ( "Code "); and agrees that it and its
subordinate entities will not designate more than $10,000,000 of their
obligations as "qualified tax - exempt obligations" during the current calendar
year.
Except as amended hereby, the Lease shall otherwise remain unchanged and in full force
and effect.
IN WITNESS WHEREOF, the parties have executed this Amendment as of the 22nd day
of March, 2001.
LESSEE: Village of Lemont LESSOR: Ford Motor Credit Company
Public Works Department
By:
Title:
O _ By:
id A. n� asnes ' Frank Mastrella
ayor Title: Operations Manager, Municipal Finance
Page 1
SCHEDULE 6505502 - MASTER EQUIPMENT LEASE- PURCHASE AGREEMENT
Lease No. 6505500
This Equipment Schedule dated as of 03/22/2001, is being executed by Ford Motor Credit Company ( "Lessor"), and
Village of Lemont ( "Lessee "), as a supplement to, and is hereby made a part of that certain Master Equipment Lease -
Purchase Agreement dated as of 01/06/2000 ( "Lease "), between Lessor and Lessee.
Lessor hereby leases to Lessee under and pursuant to the Lease, and Lessee hereby accepts and leases from Lessor
under and pursuant to the Lease, subject to and upon the terms and conditions set forth in the Lease and upon the
terms set forth below, and following items of Equipment:
QUANTITY
DESCRIPTION (MANUFACTURER, MODEL AND SERIAL NO.)
SUPPLIER
1
1
2001 Ford F550 With 9 -Ft. Crysteel Dump Body, 9 -Ft. Western
Unimount Snow Plow and Monroe Spreader (1 FDAF57F51 EB32052,
30072994, 4400175 and 00 -09- 3888); and
2001 Ford F550 With 9 -Ft. Crysteel Dump Body, 9 -Ft. Western
Unimount Snow Plow and Monroe Spreader (1 FDAF57F31 EB32051,
3072993, 5000092, 00 -09 -3887)
Northwest Ford
Truck Center,
Inc.
EQUIPMENT LOCATION: Village of Lemont
Public Works Department
14574 127th Street
Lemont, IL 60439
Initial Term:
Periodic Rent:
36 Months
Commencement Date: 03/22/2001
35 Consecutive Monthly in Advance Payments of $2,215.64 each (including interest), followed
by one final payment of $2,215.96, due under this Lease. The Periodic Rent Payment also
includes any applicable sales /use tax due and payable on the Lease Payment Dates, set forth in
Schedule 6505502, Page 2.
EXECUTED as of the date first herein set forth.
LESSEE: Village of Lemont LESSOR: Ford Motor Credit Company
P• • 'c Works Department
By: � By:
!'hard A. Kwasneski Frank Mastrella
Title: Operations Manager, Municipal Finance
Title: Mayor
Counterpart No. 1 of 1 manually executed and serially numbered counterparts. To the extent this Schedule constitutes
chattel paper, no security interest herein may be perfected through the possession of any counterpart other than
Counterpart No. 1.
Schedule 6505502
Payment Schedule
Rate: 6.90%
Page 2
Lease Number: 6505500
Lease Lease
Payment Payment Lease Interest Principal Concluding
NUmber Date Payment Portion Portion Payment
1 3 / 22 / 2001 2,215.64
2 4 / 22 / 2001 2,215.64
3 5 / 22 / 2001 2,215.64
4 6 / 22 / 2001 2,215.64
5 7 / 22 / 2001 2,215.64
6 8 / 22 / 2001 2,215.64
7 9 / 22 / 2001 2,215.64
8 10 / 22 / 2001 2,215.64
9 11 / 22 / 2001 2,215.64
10 12 / 22 / 2001 2,215.64
11 1 / 22 / 2002 2,215.64
12 2 / 22 / 2002 2,215.64
13 3 / 22 / 2002 2,215.64
14 4 / 22 / 2002 2,215.64
15 5 / 22 / 2002 2,215.64
16 6 / 22 / 2002 2,215.64
17 7 / 22 / 2002 2,215.64
18 8 / 22 / 2002 2,215.64
19 9 / 22 / 2002 2,215.64
20 10 / 22 / 2002 2,215.64
21 11 / 22 / 2002 2,215.64
22 12 / 22 / 2002 2,215.64
23 1 / 22 / 2003 2,215.64
24 2 / 22 / 2003 2,215.64
25 3 / 22 / 2003 2,215.64
26 4 / 22 / 2003 2,215.64
27 5 / 22 / 2003 2,215.64
28 6 / 22 / 2003 2,215.64
29 7 / 22 / 2003 2,215.64
30 8 / 22 / 2003 2,215.64
31 9 / 22 / 2003 2,215.64
32 10 / 22 / 2003 2,215.64
33 11 / 22 / 2003 2,215.64
34 12 / 22 / 2003 2,215.64
35 1 / 22 / 2004 2,215.64
36 2 / 22 / 2004 2,215.96
0.00
402.85
392.43
381.94
371.40
360.80
350.13
339.40
328.61
317.76
306.85
295.88
284.84
273.74
262.57
251.34
240.04
228.68
217.26
205.77
194.21
182.59
170.90
159.14
147.32
135.42
123.46
111.43
99.33
87.16
74.93
62.62
50.24
37.79
25.26
12.67
TOTALS 79,763.36 7,486.76
2,215.64
1,812.79
1,823.21
1,833.70
1,844.24
1,854.84
1,865.51
1,876.24
1,887.03
1,897.88
1,908.79
1,919.76
1,930.80
1,941.90
1,953.07
1,964.30
1,975.60
1,986.96
1,998.38
2,009.87
2,021.43
2,033.05
2,044.74
2,056.50
2,068.32
2,080.22
2,092.18
2,104.21
2,116.31
2,128.48
2,140.71
2,153.02
2,165.40
2,177.85
2,190.38
2,203.29
72,276.60
70,060.96
68,248.17
66,424.96
64,591.26
62,747.02
60,892.18
59,026.67
57,150.43
55,263.40
53,365.52
51,456.73
49,536.97
47,606.17
45,664.27
43,711.20
41,746.90
39,771.30
37,784.34
35,785.96
33,776.09
31,754.66
29,721.61
27,676.87
25,620.37
23,552.05
21,471.83
19,379.65
17,275.44
15,159.13
13,030.65
10,889.94
8,736.92
6,571.52
4,393.67
2,203.29
1.00
LESSOR: FORD MOTOR CREDIT COMPANY
P. O. Box 1739
Dearborn, MI 48121 -1739
DELIVERY AND ACCEPTANCE CERTIFICATE
The undersigned Lessee hereby acknowledges receipt of the Equipment described below ( "Equipment ") as fully
installed and in good working condition; and Lessee hereby accepts the Equipment after full inspection thereof as
satisfactory for all purposes of the Master Equipment Lease - Purchase Agreement ( "Lease ") executed by Lessee and
Lessor.
MASTER LEASE
MASTER LEASE
SCHEDULE
DELIVERY
PURCHASE
PURCHASE
DATE
NUMBER
6505502
NUMBER
DATE
ORDER NO.
DATE
01/06/2000
6505500
03/22/2001
1
EQUIPMENT INFORMATION
QUANTITY
DESCRIPTION (MANUFACTURER, MODEL AND SERIAL NO.)
SUPPLIER
1
1
2001 Ford F550 With 9 -Ft. Crysteel Dump Body, 9 -Ft. Western
Unimount Snow Plow and Monroe Spreader (1 FDAF57F51 EB32052,
30072994, 4400175 and 00 -09- 3888); and
2001 Ford F550 With 9 -Ft. Crysteel Dump Body, 9 -Ft. Western
Unimount Snow Plow and Monroe Spreader (1 FDAF57F31 EB32051,
3072993, 5000092, 00 -09 -3887)
Northwest Ford
Truck Center,
Inc.
LESSEE: Village of Lemont
14574 127th Street
Lemont, IL 60439
BY:
(Title)
DATE ACCEPTED:
INSURANCE FACT SHEET
We require a Certificate of Insurance or Declaration Page shown in the name of the Municipality listed below. If more than
one insurance company is used, indicate each and for what type coverage. Per the Master Equipment Lease - Purchase
Agreement, Lease No. 6505500, we require Liability and Physical Damage on all vehicles, Liability and Property Damage
on all other Equipment and FORD MOTOR CREDIT COMPANY named as Loss Payee or Additional Insured. RETURN
TO: Ford Motor Credit Company, Municipal Finance, PO Box 1739 - MD 7500, Dearbom, MI 48121 -1739.
SCHEDULE NO: 6505502 PLEASE NOTE: FORD MOTOR CREDIT COMPANY REQUIRES
A MINIMUM OF $1,000,000 PUBLIC LIABILITY COVERAGE
MUNI: Village of Lemont
ADDRESS: 14574 127th Street
CITY: Lemont, IL 60439
CONTACT: Jean Nona, Accts. Payable 630 - 257 -1550 PHONE: (630) 243 -2705
EQUIP DESC: (1) 2001 Ford F550 With 9 -Ft. Crysteel Dump Body, 9 -Ft. Western Unimount Snow Plow
and Monroe Spreader (1 FDAF57F51 EB32052, 30072994, 4400175 and 00 -09- 3888); and
(1) 2001 Ford F550 With 9 -Ft. Crysteel Dump Body, 9 -Ft. Western Unimount Snow Plow
and Monroe Spreader (1FDAF57F31EB32051, 3072993, 5000092, 00 -09 -3887)
INSURANCE COMPANY:
ADDRESS:
CITY: STATE: ZIP:
PHONE: CONTACT PERSON:
POLICY NO: EXPIRATION DATE:
LIABILITY AMT: PROPERTY DAMAGE AMT:
PHYSICAL DAMAGE AMT: COMPREHENSIVE DEDUCTIBLE:
COLLISION DEDUCTIBLE:
INSURANCE COMPANY:
ADDRESS:
CITY: STATE: ZIP:
PHONE: CONTACT PERSON:
POLICY NO: EXPIRATION DATE:
LIABILITY AMT: PROPERTY DAMAGE AMT:
PHYSICAL DAMAGE AMT: COMPREHENSIVE DEDUCTIBLE:
COLLISION DEDUCTIBLE:
SELF - INSURED:
IF YOU ARE SELF - INSURED FOR ANY COVERAGE, PLEASE PROVIDE THE NAME OF YOUR INSURANCE
POOL/FUND.
NAME OF INSURANCE POOL/FUND:
SELF - INSURED FOR: LIABILITY: $ PROPERTY: $ PHYSICAL: $
CONTINUOUS COVERAGE: FROM: TO:
PLEASE SIGN:
Richard A. Kwasneski, Mayor
Form 8038 -GC
(Rev. May 1999)
Department at the Treasury
Internal Revenue Service
Information Return for Small Tax - Exempt
Governmental Bond Issues, Leases, and Installment Sales
• Under Internal Revenue Code section 149(e)
Caution: Use Fomt 8038 -G if the issue price of the issue is $100, 000 or more.
Part I
Re • opton . Authors
Issuers name
Village of Lemont
Number and street (or P. e. box mad is not delivered to street address)
14574 127th Street
OMB No. 1545-0720
Check box if Amended Retum ► ❑-
2 Issuers employer identification number
36- 6005968
Room/
uite
City. town. or post office. state. and ZIP code
Lemont, IL 60439
Name and title of officer or legal representative whom the IRS may call for more information
Part II
Description of Obligations (Check if reporting: a single issue Il or
5 Report number
GC 2001 - 6505502
7 Telephone number of officer or legal representaeve
630 -257 -1550
on a consolidated basis U
8a Issue price of obligation(s) (see instructions)
b Issue date (single issue) or calendar year (consolidated) (see instructions)
9 Amount of the reported obligation(s) on line 8a:
a Used to refund prior issue(s)
b Representing a loan from the proceeds of another tax - exempt obligation (e.g., bond bank)
10 If the issuer has designated any issue under section 265(b)(3)(B)(1)(I11)(small issuer exception), check this box. • ❑
11 If any obligation is in the form of a lease or installment sale, check this box ►®
12 If the issuer has elected to pay a penalty in lieu of arbitrage rebate, check this box . •❑
8
$70,060.96
9a
9b
PLEASE
SIGN
HERE
Under penalties of perjury. I declare that I have examined this retum and accompanying schedules and statements, and to the best of my knowledge
and belief, they are true, correct and complete.
Issuers authorized representative
Date
Richard A. Kwasneski, Mayor
Type or print name and title
General Instructions
Section references are to the lntemal
Revenue Code Unless otherwise noted.
Purpose of Form
Form 8038 -GC is used by issuers of
tax- exempt govemmental obligations to
provide the IRS with the information required
by section 149(e) and to monitor the
requirements of sections 141 through 150.
Who Must File
Issuers of tax- exempt govemmental
obligations with issue prices of less than
$100,000 must file Form 8038 -GC.
Issuers of a tax- exempt govemmental
obligation with an issue price of $100.000 or
more must file Form 8038 -G, Information
Retum for Tax - Exempt Govemmental
Obligations.
Filing a separate retum. Issuers have the
option to file a separate Form 8038 -GC for
any tax- exempt governmental obligation with
an issue price of less $100,000.
An issuer of a tax - exempt bond used to
finance construction expenditures must file a
separate Form 8038 -GC for each issue to
give notice to the IRS that an election was
made to pay a penalty in lieu of arbitrage
rebate (see line 12 instructions).
Filing a consolidated retum. For all tax -
exempt govemmental obligations with issue
prices of less than $100,000 that are not
reported on a separate Form 8038 -GC, an
issuer must file a consolidated information
retum induding all such issues issued within
the calendar year.
Thus, an issuer may file a separate Form
8038 -GC for each of a number of small issues
and report the remainder of small issues
issued during the calendar year on one
consolidated Form 8038 -GC. However, a
separate Form 8038 -GC must be filed to give
the IRS notice of the election to pay a penalty
in lieu of arbitrage rebate.
When to File
To file a separate retum, file Form 8038 -GC
on or before the 15th day of the second
calendar month after the close of the calendar
quarter in which the issue is issued.
To file a consolidated return, file Form
8038 -GC on or before February 15th of the
calendar year following the year in which the
issue is issued.
Late filing. An issuer may be granted an
extension of time to file Form 8038 -GC under
Section 3 of Rev. Proc. 88-10, 1988 -1 C.B.
635, if it is determined that the failure to file on
time is not due to willful neglect. Type or
print at the top of the form, "This Statement is
Submitted in Accordance with Rev. Proc. 88-
10." Attach to the Form 8038 -GC a letter
briefly stating why Form 8038 -GC was not
submitted to the IRS on time. Also indicate
whether the obligation in question is under
examination by the IRS. Do not submit
copies of any bond documents, leases, or
installment sale documents.
Where to File
File Form 8038 -GC with the Internal Revenue
Service Center, Philadelphia, PA 19255.
Other Forms That May Be Required
For rebating arbitrage (or paying a penalty in
lieu of arbitrage rebate) to the Federal
govemment, use Form 8038 -T, Arbitrage
Rebate and Penalty in Lieu of Arbitrage
Rebate. For private activity bonds, use Form
8038, Information Retum for Tax - Exempt
Private Activity Bond Issues.
Rounding to Whole Dollars
You may show the money items on this retum
as whole- dollar amounts. To do so, drop any
amount less than 50 cents and increase any
amount from 50 cents through 99 cents to the
next higher dollar.
Definitions
Obligations. This refers to a single
tax- exempt govemmental obligation if Form
8038 -GC is used for separate reporting or to
multiple tax- exempt govemmental obligations
if the form is used for consolidated reporting.
Tax -exempt obligation. This is a bond,
installment purchase agreement, or financial
lease, on which the interest is excluded from
income under section 103.
Tax -exempt governmental obligation. A
tax- exempt obligation that is not a private
activity bond (see below) is a tax- exempt
govemmental obligation. This includes a bond
issued by a qualified volunteer fire department
under section 150(e).
Private activity bond. This includes an
obligation issued as part of an issue of which:
• More than 10% of the proceeds are to be
used for any private business use.
and
Cat. No 641088
Form 8038 -GC (Rev. 5-99)