3428RESOLUTION NO.3428
A RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF A MASTER EQUIPMENT
LEASE/PURCHASE AGREEMENT,AND RELATED INSTRUMENTS,AND DETERMININGOTHER
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
SunTrust Equipment Finance and Leasing Corporation 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 SunTrust Equipment Finance and Leasing
Corporation substantially in the form presented at this meeting.
4.Lessee reasonably anticipates that itand its subordinate entities will not issue tax-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 resolutionare inthe best interests ofthe City of Moses Lakeforthe
acquisition of the equipment.
2. The Financing Documents and the acquisition and financing of the equipment under the terms and
conditions as described inthe Financing Documents are hereby approved.The CityManager ofthe
Cityof Moses Lake and any other officer of the Cityof Moses Lake who shall have power to execute
contracts on behalf of the Cityof Moses Lake be,and each of them hereby is,authorized to execute,
acknowledge and deliverthe agreement with any changes,insertions and omissions therein as may
be approved bythe officerswho execute the agreement,such approval tobe conclusively evidenced
bysuch execution and delivery ofthe agreement.The City Manager ofthe City of Moses Lakeand
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 affixthe official seal of the Cityof Moses Lake to the agreement and attest
the same.
3. The proper officers ofthe 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 allother 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 Cityof Moses
Lakehereby specifically designates the Lease as a "qualified tax-exemptobligation"forpurposes 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 effectand further certifies that the within Master Equipment Lease/Purchase
Agreementisthe same as presented at said meetingofthe City Council ofthe City of 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 by the City Council on January 28,2014.
Dick Dean,Mayor
ATTEST: