2308_00001RESOLUTION NO.2308
A RESOLUTION AUTHORIZINGTHEEXECUTION AND DELIVERYOF A MASTEREQUIPMENTLEASE/PURCHASEAGREEMENT,ANDRELATEDINSTRUMENTS,ANDDETERMININGOTHERMATTERSINCONNECTIONTHEREWITH
Recitals:
0 1.The governingbody ofthe City ofMoses Lakehas determined that a trueand very realneedexistsfortheequipmentdescribedintheproposedMasterEquipmentLease/Purchase AgreementwithSun Trust Leasing presented at thismeeting.
2.Lessee has takenthe necessary steps,includingthose relatingto any applicable legal
,bidding requirements,to arrange fortheacquisitionof the equipment.
3.Lessee proposes to enter into theagreement withSun Trust Leasing substantiallyin theformpresentedatthismeeting.
4.Lessee reasonablyanticipatesthatitand its subordinateentities willnot issue tax-exemptobligationsinthefaceamountofmorethan$10,000,000during the currentcalendar year.
Resolved:
1.Itis hereby found and determined thatthetermsoftheagreement inthe form presentedatthismeetingandincorporatedinthisresolutionareinthebestinterestsoftheCityofMosesLakefortheacquisitionoftheequipment.
2.The Financing Documents and theacquisitionand financing ofthe equipmentunder thetermsandconditionsasdescribedintheFinancingDocumentsareherebyapproved.TheCityManageroftheCityofMosesLakeandanyotherofficeroftheCityofMosesLakewhoshallhavepowertoexecutecontractsonbehalfoftheCityofMosesLakebe,andeachofthemherebyis,authorizedtoexecute,acknowledge and deliver the agreementOwithanychanges,insertions and omissionsthereinas may be approved by the officerswhoexecutetheagreement,such approval to be conclusively evidenced by suchexecutionanddeliveryoftheagreement.The City Manager of the Cityof Moses LakeandanyotherofficeroftheCityofMosesLakewhoshallhavepowertodosobe,andeachofthemherebyis,authorizedtoaffixtheofficialseal oftheCity of Moses Lake totheagreementandattestthesame.
3.The proper officersof the City ofMoses Lake be,and each of themhereby is,authorizedanddirectedtoexecuteanddeliveranyandallpapers,instruments,opinions,certificates,affidavitsand other documents and todo or cause tobe done any and allother acts andthingsnecessaryorproperforcarryingoutthisresolutionandtheagreement.
4.Pursuant to Section 265(b)oftheInternal Revenue Code of1986,as amended,theCityofMosesLakeherebyspecificallydesignatestheLeaseasa"qualifiedtax-exempt'obligation"for purposes of Section 265(b)(3)of the Internal Revenue Code of 1986,asamended."
5.The undersigned further certifies that the above resolution has not been repealed oramendedandremainsinfullforceandeffectandfurthercertifiesthatthewithinMasterEquipmentLease/Purchase Agreement is the same as presented at said meeting of theCityCounciloftheCityofMosesLake.
Adopted by the City Council on January 23,2001.
MayórATTEST:
ance Director