Subject to the approval of a companion budget amendment, consider approving an Amendment Number 4 to the Equipment Lease/Purchase Agreement Banc of America Public Capital Corp. for the purpose of applying the settlement funds [less attorney fees] from the Engie litigation and the remaining escrow funds towards the principal of the lease, thereby reducing the payment term and will causing the lease to be satisfied on November 15, 2027, i.e. approximately 57 months early from the original August 15, 2032 final payment date; amending the definition of equipment; acknowledging acceptance of the equipment for purposes of financing the same under the agreement, authorizing the Mayor to execute Amendment No. 4 and any other documents necessary to effectuate the Amendment.

Committee

City Council

Introduced

March 17, 2023

On agenda

March 28, 2023