2017RESOLUTION NO.2017
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 City of Moses Lake has determined that a true and very real need
exists for the equipment described in the proposed Master Equipment Lease/Purchase Agree
ment with Signet Leasing and Financial Corporation 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 Signet Leasing and Financial Corporation
substantially in the form presented at this meeting.
4.Lessee reasonably anticipates that it and 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 to this
meeting and incorporated in this resolution are in the best interests of Lessee for the acquisi
tion of the equipment.
2.The agreement is hereby approved.The City Manager of Lessee and any other officer of
Lessee who shall have power to execute contracts on behalf of Lessee be, and each of them
hereby is,authorized to execute,acknowledge and deliver the agreement with any changes,
insertions and omissions therein as may be approved by the officers who execute the agree
ment,such approval to be conclusively evidenced by such execution and delivery of the agree
ment.The City Manager of the Lessee and any other officer of Lessee who shall have power
to do so be,and each of them hereby is,authorized to affix the official seal of Lessee to the
agreement and attest the same.
3.The proper officers of Lessee be,and each of them 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.Lessee hereby designates the agreement as a "qualified tax-exempt obligation" within the
meaning 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5.The undersigned further certifies that the above resolution has not been repealed or amended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 in full fore and effect and further certifies that the within Master Equipment
Lease/Purchase Agreement is the same as presented at said meeting of the governing body of
Lessee.
Adopted by the City Council on January 28,1997.
ATTEST:
Finance Director