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RESOLUTION NO.3206
A RESOLUTION EXPRESSING OFFICIAL INTENT REGARDING CERTAIN
CAPITAL EXPENDITURES TO BE REIMBURSED FROM PROCEEDS OF
SCHEDULE OF PROPERTY NO.1 DATED FEBRUARY 25,2011 TO THE
MASTER EQUIPMENT LEASE PURCHASE AGREEMENT DATED
FEBRUARY 25,2011 (MASTER LEASE")BETWEEN CITYOF MOSES LAKE
("LESSEE")AND PINNACLE PUBLIC FINANCE, INC.("LESSOR")
RECITALS:
1.The Lessee has developed a list of capital projects (the "Projects")described in Exhibit A
hereto;and
2.All or a portion of the expenditures relating to such projects (the "Expenditures")(I)have been
paid within sixty (60)days prior to the passage of this resolution of (ii)will be paid on or after
the passage of this resolution;and
3.The Lessee reasonably expects to reimburse itself for the Expenditures with the proceeds of
a lease schedule in the form of Exhibit A to the Master Lease (each,a "Schedule")which may
be executed by the parties amendments hereto),which shall be incorporated by reference into
each Schedule,shall constitute a separate and independent lease and installment purchase
of the Equipment identified therein,and are hereinafter referred to as a "Lease."
RESOLVED:
1.the Lessee reasonably expects to reimburse the Expenditures with proceeds of a Lease.
2.The maximum principal amount of the obligations expected to be issued for the Projects is
$650,000.
3.All actions of the officers,agents,and employees of the Lessee that are in conformity with the
purposes and intent of this Resolution,whether taken before or after the adoption hereof,are
hereby ratified,confirmed and adopted.
Adopted by the City Council on February 8,2011.
ATTEST:JorHTane,Mayor
Ronald R.Cone,Finance Director