2158RESOLUTION NO.2158
A RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF A MASTER
EQUIPMENT LEASE/PURCHASE AGREEMENT,AND RELATED INSTRUMENTS,AND DE
TERMINING OTHER MATTERS IN CONNECTION THEREWITH
Recitals:
^1.The governing body of the Cityof Moses Lake has determined that a true and very realneed
{^J exists for the equipment described in the proposed Master Equipment Lease/Purchase Agree
ment with Bank One Leasing Corp.presented at this meeting.
2.Lessee has taken the necessary steps,including those relating to any applicablelegal bidding
requirements,to arrange for the acquisition of the equipment.
3.Lessee proposes to enter intothe agreementwith Bank One Leasing Corp. substantially inthe
form presented at this meeting.
4.Lessee reasonably anticipates that itand its subordinate entities will not issue tax-exempt obliga
tions inthe face amount of more than $5,000,000 duringthe current calendar year.
Resolved:
1.Itis hereby found and determined that the terms of the agreement inthe form presented to this
meeting and incorporated inthis resolution are inthe best interests of Lessee forthe acquisition 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 agreement,such approval
to be conclusively evidenced by such execution and delivery of the agreement.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.
U
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 mean
ing of Section 265(b)(3)ofthe Internal Revenue Code of 1986,as amended."
5.The undersigned furthercertifies that the above resolution has not been repealed or amended and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 February 9,1999.
Mayor
ATTE