3274~
RESOLUTION NO.3274
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 in the proposed Master Equipment Lease/Purchase Agreement with
CalFirst National Bank presented 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 CalFirst National Bank substantially in the form
presented at this meeting.
4.Lessee reasonably anticipates that itand its subordinate entities will not issuetax-exempt obligations
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 resolution are inthe best interests of the Cityof Moses Lake for the
acquisition of the equipment.
2.The Financing Documents and the acquisition and financing of the equipment under the terms and
conditions as described in the Financing Documents are hereby approved.The City Manager of the
City of Moses Lake and any other officer of the City of Moses Lake who shall have power to execute
contracts on behalfof the City of Moses Lake be,and each of them hereby is,authorized to execute,
acknowledge and deliver the agreementwith any changes,insertions and omissions therein as may
be approved by the officers who execute the agreement,such approval to be conclusively 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 of them
hereby is,authorized to affix the official seal of the City of Moses Lake to the agreement and attest
the same.
3.The proper officers of the Cityof Moses Lake be,and each ofthem hereby is,authorized and directed
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 Lease as a "qualified tax-exempt obligation" for purposes of
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 infull force and effect and further certifies 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. The City declares its intentto be reimbursed forany temporary advances fromthe appropriate debt
service fund to pay for any part of the equipment from proceeds of the lease financing.
Adopted bythe CityCouncil on January 24, 2012.
Ronald R.Cone,Finance Director
Bill Ecret,Mayor
ATTEST: