SPECIAL ORDINANCE
BY COUNCIL PRESIDENT COLLINS-BELLAMY, MAJORITY LEADER RUBBO, MAJORITY WHIP NORMAN, MINORITY LEADER BREEN, COUNCILMEMBERS, PINEDA-ISAAC, DIAZ AND MERANTE:
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AN ORDINANCE OF THE CITY OF YONKERS, NEW YORK DECLARING THE FINDINGS OF THE CITY WITH RESPECT TO THE PROPOSALS RECEIVED FOR THE FINANCING OF THE CITY'S ENERGY PERFORMANCE CONTRACT WITH HONEYWELL INTERNATIONAL, INC., AND MAKING CERTAIN OTHER DETERMINATIONS IN CONNECTION THEREWITH.
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The City of Yonkers, in the City Council convened, hereby ordains and enacts:
Section 1. Following the solicitation of proposals, the City of Yonkers (the "City") received proposals from two (2) firms to provide financing for a the cost of the energy conservation measures to be implemented under the Energy Performance Contract, entitled "Honeywell Agreement," that the City has heretofore entered into with Honeywell International, Inc. (the "Agreement").
Section 2. Following a discussion of the City Council, and based upon the written recommendation received from Capital Markets Advisors, LLC., the City's Municipal Advisor, it is hereby determined that the proposal received from Huntington National Bank, or one of its subsidiaries, affiliates or assigns (the "Lessor") is hereby accepted, subject to the negotiation of one or more lease purchase agreements approved by Corporation Counsel.
Section 3. The Commissioner of Finance and Management Services, acting on behalf of the City and with the advice of counsel, is hereby authorized to negotiate, enter into, execute, and deliver one or more lease purchase agreements (the "Equipment Lease") with the Lessor, and is further authorized to negotiate, enter into, execute, and deliver such other documents relating to the Equipment Lease (including, but not limited to, escrow agreements). All other related contracts and agreements necessary and incidental to the Equipment Lease are hereby authorized, and such documents shall be filed in the office...
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