3666RESOLUTION NO.3666
A RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF A MASTER EQUIPMENT
LEASE/PURCHASE AGREEMENT,AND RELATED INSTRUMENTS,AND DETERMINING OTHER
MATTERS IN CONNECTION THEREWITH
Recitals:
1.The governing body of the Cityof Moses Lake has determined that a true and very real need exists
for the equipment described inthe proposed Master Equipment Lease/Purchase Agreementwith U.
S.Bancorp Government Leasing and Finance,Inc. at this meeting.
2.Lessee has taken the necessary steps,including those relating to any applicable legal bidding
requirements,to arrange for the acquisition of the equipment.
3.Lessee proposes to enter into the agreement with U. S.Bancorp Government Leasing and Finance,
Inc.substantially in the form presented at this meeting.
4.Lessee reasonably anticipates that itand its subordinate entitieswill not issue tax-exemptobligations
in the face amount of more than $10,000,000 during the current calendar year.
Resolved:
1. It is hereby found and determined that the terms of the agreement in the form presented at this
meeting and incorporated inthis resolutionare in the best interests ofthe City of Moses Lakeforthe
acquisition of the equipment.
2. The Financing Documents and the acquisition and financing ofthe equipment underthe termsand
conditions as describedin the Financing Documents are hereby approved.The City Manager ofthe
City of Moses Lake and any other officer oftheCity ofMoses Lake who shall have power to execute
contractsonbehalfofthe City ofMoses Lake be,andeach ofthem hereby is,authorized to execute,
acknowledge and deliver theagreement with any changes,insertions and omissions therein as may
be approved by the officers who execute the agreement,such approval tobeconclusively evidenced
by such execution and delivery of the agreement.The City Manager of the City of Moses Lake and
any other officer of the City of Moses Lake who shall have power to do so be,and each ofthem
hereby is,authorized toaffix the official sealofthe City of Moses Lake tothe agreement and attest
the same.
3.Theproper officers oftheCity ofMoses Lake be,andeachofthem hereby is,authorized anddirected
to execute and deliver any and all papers,instruments,opinions,certificates,affidavits and other
documents and to do or cause to be done any and all other acts and things necessary or proper for
carrying out this resolution and the agreement.
4.Pursuant to Section 265(b) of the Internal Revenue Code of 1986,as amended,the City of Moses
Lake hereby specifically designates the Leaseas a "qualified tax-exempt obligation"for purposesof
Section 265(b)(3)of the Internal Revenue Code of 1986,as amended."
5. The undersigned further certifies that the above resolution has not been repealed or amended and
remains in full force and effectand furthercertifies that the within Master Equipment Lease/Purchase
Agreement is the same as presented at said meeting of the CityCouncil of the Cityof Moses Lake.
6.
Adopted by the City Council on March 28,2017.
The City declares its intent to be reimbursed for any temporary advandes'from the appropriate debt
service fund to pay forany part ofthe equipment from proceeds^ofthe leaselinancing.
Todd Votrf;Mayor
ATTEST:
(//k
W.Robert Taylor/Firiiance Director