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Home My WebLink Aboutordinance.council.007-77RECORD OF PROCEEDINGS 100 Leaves ORDINANCE NO. ? (Series of 1977) AN ORDINANCE RATIFYING A CERTAIN LEASE OPTION AGREEMENT BETWEEN THE CITY OF ASPEN AND KELLEY CHEVROLET-CADILLAC INC. PROVIDING FOR THE INSTALLMENT PURCHASE BY THE CITY OF ONE 1977 CHEVROLET PICKUP TRUCK OVER A PERIOD OF TWENTY- FOUR MONTHS WITH MONTHLY PAYMENTS OF $145.06 EACH, ALL AS MORE SPECIFICALLY PROVIDED HEREIN WHEREAS, there has been tendered to the City Council a certain agreement between the City and Kelley Chevrolet- Cadillac Inc. for the installment purchase of one Chevrolet pickup truck which agreement the Council wishes to approve, and WHEREAS, Section 10.S of the Aspen Home Rule Charter authorizes the City to execute such agreements but requires that each such agreement and the terms thereof be approved by an ordinance duly enacted by the City, NOW, THEREFORE, SE IT ORDAINED BY THE CITY COUNCIL OF THE CITY OF ASPEN, COLORADO: Section 1 That it does ratify and approve that certain lease/ option agreement between the City of Aspen and Kelley Chevrolet- Cadillac Inc. attached hereto as Exhibit A and incorporated by this reference, and authorizes Stacy Standley III, ~ayor, after the effective date hereof, to execute the same on behalf of the City of Aspen, Colorado. Section 2 If any provision of this ordinance or the application thereof to any person or circumstance is held invalid, such invalidity shall not affect other provisions or applications of the ordinance which can be given effect without the invalid provision or application, and to this end the provisions of this ordinance are declared to be severable. RECORD OF PROCEEDINGS 100 Leaves Section 3 A public hearing on the ordinance shall be held on , 1977, at 5:00 P.M. in City Council Chambers, Aspen City Hall, Aspen, Colorado. INTRODUCED, READ AND ORDERED published as provided by law by the City Council of the City of Aspen, Colorado, its regular meeting held at the City of Aspen on the day of , 1977. the at ATTEST: Stacy Standley III Mayor Kathryn S. Hauter City Clerk FINALLY adopted, day of passed and approved on the , 1977. ATTEST: Stacy Standley III Mayor Kathryn S. Hauter City Clerk -2- NON-MAINTENANCE LEASE AGREEMENT (Lessor) whose address is (Street Address) (C~ty) (State) (Ztp Code) (Street Address) ~ '(Ci~) (State) (Zip Code) and Lessee agrees to lease from Lessor, subject to the terms set forth below and upon the reverse side hereof, the following described motor vehicle, attachments and accessories, delive~ and accup~nce of which is hereby acknowledged in goad' ord~ b~ Lessee; for a ter~ of ~ months, cammencing on the date of ~ecution of ~]s lease aS shawn below. "r '::Tru,k .'. Y--r Make ' I Model Color I VehicJe ~entifl~tion No. [ ] [. 3 VEHICLE USE: Lessee represents that this lease is entered into primarily for (checkonej [] Personal, family, household ~ Besiness or commercial use or agricultural use; TYPE OF LEASE: Refer to TERMiNATiON & DEFAULT Provisions on reverse side (chock one) [] Close~-End; j~ Open-End LESSEE LIABILITY DISCLOSURE: (Must be completed if this is an open-end lease) 1. ORIGINAL VALUE OF VEHICLE ..................................................................................................................................................................................... 2. CASH DOWN PAYMENT Credited Against Original Value (Prepaid Uep!eciatian) ................................................................................................................. 0. NET TRADE-IN Credited Against Original Value (Prepaid DepreciatianJ! (Complete for both open and closed-end leases) .............................. 4. NET ORIGINAL VALUE (Item 1 less Items 2 and 3) ....................................................................................................................................................................... I~ 5. AGREED DEPRECIATED VALUE OF VEHICLE at tha completion of the originally scheduled term of this lease. The agreed depreciated value of the vehicle wHI be compared to the net amount received from the sale of the returned vehicle at wholesale upon lease termination to establish the amaunt of Lessee deficiency or rebate. The MAXIMUM LESSEE LIABILITY for deficiency shall be established in accordance with the NORMAL LEASE TERMI- NATION provisions on the reverse side. In the event of default ar prematura lease termination the MAXIMUM LESSEE LIABJLiTY shall be determined in accordance with the DEFAULT or PREMATURE LEASE TERMINATION provisions on the reverse side ...................................................................................... 6. TOTAL AMOUNT OF FIXED MONTHLY RENTALS FOR THE FULL LEASE TERM TO BE CREDITED AGAINST ORIGINAL VALUE (Depreciation Included in Fixed Monthly Rental Charges--Item 4 less Item 5) ................................................................................................................................................. ~*-..~ ....... 6A. TOTAL AMOUNT OF FIXED MONTHLY RENTALS NOT TO BE CREDITED AGA NST OR G HAL VALUE (tem 7A ess tern 6) 6A $ 5 $:/700. ~0 Total of Mnnthly SUMMARY OF MONTHLY CHARGES Charges for Lease Term Y. FIXED MONTHLY RENTAL CHARGES ........................................................................................... B. SALES OR USE TAX ......................................................................................................................................................... 8A $- 9. DODILY INJURY AND PROPERTY DAMAGE INSURANCE CHARGES ........................................................................................................ SA $ 10. PHYSICAL DAMAGE INSURANCE CHARGES (Collision and Comprehensive) ................................................................................. 10A 11. OTHER INSURANCE (describe) .................................................................................................................................................... 1IA $ 12. TOTAL MONTHLY RENTAL PAYMENT (sum af Items 7,% 9, 10, and 11) .................................................................................... 12A Mentklv Charges ss ~ 95 ~ ~0 $ ~ iL $ .-(:7- · ~2 $//~'~.CtS' ;~ Cask DII CASH DUE UPON~DELIVERY Upon gellveiT 13. TOTAL MONTHLY RENTAL PAYMENT (For 1st Month--Same as Item 12) .................................................................................................................. 13 ~ 14. DEPOSITS: LEASE SECURITY: 14A $ ,~:~, ~I~ NSURANCE 14B $ ~ ; ................................................................................... 14 ~ 15. INITIAL TITLE, LICENSE, AND REGISTRATION FEES .................................................................................................................................................... 15 $ 16. CASH DOWN PAYMENT (if any--same as item 2) .................................................................................................................................................... 16 $ 17. ~LES OR USE TAX (if levied upon Cash Dawn Payment, Trade-In or Vehicle) .............................................................................................................. 1~-~ ~I~Z~. (~ 18. TOTAL CASH CHARGES DUE UPON DELIVERY (sum of items 3.3, ).4, 3.5, ).6, and ).7) ............................................................................................................. .? ........ Chargu for TOTAL LESSEE CHAliCES FOR LEASE TERM Lease Term 19. TOTAL AMOUNT OF PAYMENTS TD BE MADE BY LESSEE (sum of Items 3, 12A, 15, 16 and 17) EXCLUSIVE OF SECURITY DEPOSIT AND ANY TERMINATION UABILITY OR EXCESS MILEAGE CHARGE WHICH ARE DESCRIBED SEPARATELY AND SUBSEQUENT LICENSE AND REGISTRATION FEES WHICH ARE BILLED SEPARATELY ANNUALLY ............................................................................................................ 19 ~/- Z/~ 20. EXCESS MILEAGE CHARGE= This lease grants the Lessee the right to drive this vehicle for as many as ~ mGes during the full term of this lease without incurring a charge for excessive mileage. In the event of premature lease terminatian the number of miles that the Lessee will be entitled to drive without incurrinR a charge for exces- sive mileage will be determined by pro-rating the mileage allowed for the full lease term according to the proportion of the full,lease term represented by the number of months the Lessee affirms that et his own expense Lessee has obtained insurance coverage independently of the Lessor which meets the insurance requirements set fo~th herein and that Lessee agrees to maintain such coverage at Lessee's own expense far the full term of the lease. The insurance coverages provided by the Lessee's policy(s) ere as follows= Bodily Injury and Property Damage~everage Limits '~:~?c~., ~av_~/ ~w ~. ~, / ~ ? ~0 Poli~ No.~ . ~ Collision= Deducti,le A~t. ~on ~o Comprehensive= ~ed=ctible Amt. Poi cy Ho ~ ~l3 ~ ~ ~ Name of insurance Cartier= Insurance ~ent= _ CHARGES FOR INSURANCE COVERAGES WHEN OBTAINED BY LESSOR INITIAL HERE Lessee requests that the Lessor attempt to procure for the Lessee insurance coverage which will provide for the coverage limits and deductible amounts specTfled, me Lessee agrees to remit the charges, as sl~own above ia items 9, 10 and 1[. for insurance coverage to the Lessor together with and in addition to the fixed monthly rental charges. The Lessee agrees to pay any increase in insurance premiums as may he approved by any state in order to maintain the insurance protection requested by the Lessee during the term of this lease. The insurance coverages requested by the Lessee and provided in this lease are as follows and as shown in Item 11. Bodily Injury and Property Damage= Coverage Limits /. ./- Physical Damage: ColIision Cedsctible Amt. _ ~ Comprehensive--Deductible Amt. 21. RENTA~ ~.AY, i~,~.: All rental payments shall be doe in advance. The first payment shah ha payable en the execution of this lease and the second rental payment shall be due on ~ ,,, . 19~7with subsequent rental payments due on the same day of each Successive month hereafter. NOTICE TO THE LESSEE: (1) DO NOT SIGN THIS AGREEMENT BEFORE YOU R~D IT OR IF IT CONTAINS ANY B~NK SPACES TO BE FILLED IN. (2) YOU ARE ENTITLED TO A COMPLETELY FILLED-IN COPY OF THIS AGREEMENT. ~ecuted in triplicate, copy of which was delivered to, and receipt is hereby acknowledged by Lessee this /~ day of ~ ~9 ~- L~sor: L~see: ...... .... 8y Sig~ture Title S~t~ ~ . ~ ~ , T~lm DUPLI~TE ORIOINA~LESSEE ~ ~ll~ Ct O~ O~ b ~