Agenda 09/23/2008 Item #16E 1Item # 16E1
September 23, 2008
Page 1 of 3
EXECUTIVE SUMMARY
Recommendation to confirm and consent to the re- assignment of the Municipal
Lease and Option Contract with E -One, Inc. to Banc of America Public Capital
Corp.
OBJECTIVE: To obtain the Board of County Commissioners' approval of the re-
assignment of the Municipal Lease and Option Contract, from the original party, E -One,
Inc. to Banc of American Public Capital Corp. since E -One, Inc.
CONSIDERATIONS: On June 14, 2005, the BCC approved Agenda Item 16F3, a
contract by and between E -One, Inc. and Collier County for the lease /purchase of two
fire engine chassis for the Ochopee Fire District. Subsequently, E -One, Inc. was sold
and will no longer service the Municipal Lease and Option Contract. County staff was
notified on July 31, 2008, of the sale of E -One, Inc. Following the Procurement
Administration Procedures, staff has acquired the necessary documents from E -One,
Inc. which have been reviewed and approved by the County Attorney. The Ochopee
Fire District is recommending approval of the re- assignment of this Contract to Banc of
America Public Capital Corp.
FISCAL IMPACT: There is no fiscal impact associated with this Executive Summary.
GROWTH MANAGEMENT IMPACT: There is no Growth Management Impact
associated with this Executive Summary.
LEGAL CONSIDERATIONS: This is a simple lease assignment to facilitate a corporate
restructuring at Federal Signal Corp., a large manufacturer of fire engines and
emergency vehicles which does substantial business with local governments throughout
the nation. Board consent to the assignment is required under the lease. After review
of the matter I could not find any legal or business risk in consenting to the assignment,
which is legally sufficient for Board action. -JAK
RECOMMENDATION: That the Board of County Commissioners confirms and
consents to the re- assignment of Municipal Lease and Option Contract from E -One, Inc.
to Banc of America Public Capital Corp. and authorizes the Chairman to sign the
necessary document upon County Attorney review.
PREPARED BY: Lyn M. Wood, Contract Specialist, Purchasing Department
Item # 16E1
September 23, 2008
Page 2 of 3
Recommend to confirm and consent to the re- assignment of the Municipal Lease and Option
Contract with E -One, Inc. to Banc of America Public Capital Corp.
Prepared By:
Department
Purchasing
Approved By:
Department Approval
County Attorney Approved
Approved By:
Date
9/17/2008 10:42:36 AM
Date
9/17/2008 3:31 PM
Department Approval Date
Office of
Management Approved 9/17/2008 3:48 PM
and Budget
Approved By:
Department Approval
County Approved
Manager's Office
ATTACHMENTS
Name: Description:
❑ Ochopee - Lease - Purchase Executive Summary
Assgnment.doc
❑ Fed Signal Leasing.pdf Exhibit
Date
9/17/2008 4:02 PM
Type:
Executive Summary
Cover Memo
Item # 16E1
September 23, 2008
Page 3 of 3
roFEDERAL
SIGNAL
LEASING
May 27, 2008
OCHOPEE FIRE CONTROL DIST.
P. O. BOX 25
Ochopee, FL 34141
Federal Signal, E -One's parent corporation, is considering consolidating the various lease programs of Its
manufacturing subsidiaries in order to better service these accounts in the future. Such an Improvement will
require your lease(s) to be transferred to another company.
We are requesting your agreement to allow us to assign or transfer your lease(s) to Banc of America Public
Capital Corp. (" BAPCC'), and allow BAPCC to make further assignments or transfers in one or more of a series
of transactions. Any such assignment or transfer will be effective only when we mail written notice to you.
Unless you instruct them otherwise, BAPCC will act as your agent for purposes of maintaining the book
registry required under Section 149(x) of the Internal Revenue Code. In any case, your obligations under the
lease(s), Including each Payment Schedule, would remain the same.
We ask that you sign and return this document in the enclosed pre -paid envelope as soon as possible and in
any event not later than June 15, 2008. If you believe you will be unable to return this document by June 15,
please contact us promptly.
Please indicate your consent to the foregoing by having a duly authorized representative sign below and on
the enclosed duplicate of this letter. Then, please either fax to (630)954 -2041 (fax cover enclosed) or e-mail
to ddohenv afederalsional com. Please return a signed original to my attention in the enclosed pre- addressed,
stamped envelope. One copy of this letter should be kept for your records. If you have any questions,
please contact me at (630) 954 -2019, or (800) 934 -6569, or by e-mail at ddoheny @federalsignal,com.
Thank you for your cooperation and for your continued support of E -One.
Dennis Doheny
Vice President, E -One, Inc,
By our signature(s), we hereby CONSENT and AGREE to the above as it applies to the fallowing Lease(s):
3115 -001 3115 -002
Date:
COLLIER COUNTY BOARD OF COUNTY COMMISSIONERS
(signature)
(name)
(title)
Appr
egall sufficiency
Jeffrey . KI t w
County ttor y