2412_00001RESOLUTION NO.2412
A RESOLUTION AUTHORIZINGTHE EXECUTIONAND DELIVERYOF AMASTER EQUIPMENT
LEASE/PURCHASE AGREEMENT,ANDRELATEDINSTRUMENTS,ANDDETERMININGOTHERMATTERSINCONNECTIONTHEREWITH
Recitals:
1..The governing body of theCityof Moses Lake has determined thata trueand very real need existsfortheequipmentdescribedintheproposedMasterEquipmentLease/Purchase Agreement withSun
Trust Leasing presented at this meeting.O 2.Lessee has takenthe necessary steps,including.those relatingto any applicable legal biddingrequirements,to arrange for the acquisition of the equipment.
3.Lessee proposes to enter into the agreement with Sun Trust Leasing substantially in the form
presented at thismeeting.
4.Lessee reasonablyanticipatesthatitand its subordinateentitieswillnotissue tax-exemptobligationsinthefaceamountofmorethan$10,000,000during the current calendar year.
Resolved:
1.It is hereby found and determined that the terms of the agreement in the form presented at thismeetingandincorporatedinthisresolutionareinthebestinterestsoftheCityofMosesLakefortheacquisitionoftheequipment.
2.The Financing Documents and the acquisition and financing of the equipment under theterms andconditionsasdescribedintheFinancingDocumentsareherebyapproved.The City Manager oftheCityofMosesLakeandanyotherofficeroftheCityofMosesLakewhoshallhavepowertoexecutecontractsonbehalfoftheCityofMosesLakebe,and each ofthem hereby is,authorized toexecute,acknowledge and deliver theagreement withany changes,insertions and omissions thereinas maybeapprovedbytheofficerswhoexecutetheagreement,such approvaltobe conclusivelyevidencedbysuchexecutionanddeliveryoftheagreementTheCityManageroftheCityofMosesLakeand
any other officer of theCity of Moses Lake who shall have power to do so be,and each of themherebyis,authorizedto affixthe officialseal ofthe City of Moses Lake to the agreement and attestthesame.
3.The properofficersoftheCityofMoses Lake be,andeach ofthemhereby is,authorizedand directedOtoexecuteanddeliveranyandallpapers,instruments,opinions,certificates,affidavits and otherdocumentsandtodoorcausetobedoneanyandallotheractsandthingsnecessaryorproperfor
carrying out this resolution and the agreement
4.Pursuant to Section 265(b)of theInternal Revenue Code of 1986,as amended,the Cityof MosesLakeherebyspecificallydesignatestheLeaseasa"qualifiedtax-exemptobligation"forpurposesofSection265(b)(3)of theInternal Revenue Code of 1986,as amended."
5.The undersignedfurther certifiesthattheabove resolutionhas not been repealed or amended andremainsinfullforceandeffectandfulthercertifiesthatthewithinMasterEquipmentLease/PurchaseAgreementisthesameaspresentedatsaidmeetingoftheCityCounciloftheCityofMsesLake.
Adopted by theCity Council on February 26,2002.
MayorATT
ance Director
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