2512_00001RESOLUTION NO.2512
A RESOLUTIONAUTHORIZINGTHE EXECUTIONAND DELIVERYOF A MASTER EQUIPMENTLEASE/PURCHASE AGREEMENT,ANDRELATEDINSTRUMENTS,ANDDETERMININGOTHERMATTERSINCONNECTIONTHEREWITH
Recitals:
1.The governingbody of the City of Moses Lake has determinedthata trueand veryreal need existsfortheequipmentdescribedintheproposedMasterEquipmentLease/Purchase Agreement withSunTrustLeasingpresentedatthismeeting.
2.Lessee has taken the necessary steps,including those relating to any applicablelegal biddingrequirements,toarrange fortheacquisitionof theequipment
3.Lessee proposes to enter into the agreement with Sun Trust Leasing substantially in the formpresentedatthismeeting.
4.Lessee reasonably anticipates thatitand its subordinate entities willnot issue tax-exemptobligationsinthefaceamountofmorethan$10,000,000during the currentcalendar year.
Resolved:
1.It is hereby found and determinedthatthe termsof theagreement in theform presented at thismeetingandincorporatedinthisresolutionareinthebestinterestsoftheCityofMosesLakefortheacquisitionoftheequipment.
2.The Financing Documents and theacquisition and financing of the equipment underthetermsandconditionsasdescribedintheFinancingDocumentsareherebyapproved.The CityManagerof theCityofMosesLakeandanyotherofficeroftheCityofMosesLakewhoshallhavepowertoexecutecontractsonbehalfoftheCityofMosesLakebe,and each ofthemhereby is,authorized toexecute,acknowledge and deliver theagreement with anychanges,insertions and omissions thereinas maybeapprovedbytheofficerswhoexecutetheagreement,such approval tobe conclusivelyevidencedbysuchexecutionanddeliveryoftheagreement.The CityManager of theCityof Moses Lake andanyotherofficeroftheCityofMosesLakewhoshallhavepowertodosobe,and each of themherebyis,authorized toaffixthe officialseal oftheCityofMoses Lake totheagreement and attestthesame.
3.The proper officersoftheCityofMoses Lake be,and each of themhereby is,authorized anddirectedOtoexecuteanddeliveranyandallpapers,instruments,opinions,certificates,affidavits and other
.documents and to do or cause tobe done any and allotheracts andthings necessary or proper forcarryingoutthisresolutionandtheagreement.
4.Pursuant to Section 265(b)of the Internal Revenue Code of 1986,as amended,the City of MosesLakeherebyspecificallydesignatestheLeaseasa"qualifiedtax-exemptobligation"forpurposes ofSection265(b)(3)oftheInternal Revenue Code of 1986,as amended."
5.The undersigned further certifiesthattheabove resolution has not been repealed or amended andremainsinfullforceandeffectandfurthercertifiesthatthewithinMasterEquipmentLease/PurchaseAgreementisthesameaspresentedatsaidmeetingoftheCityCounciloftheCiMosesLake.
Adopted by theCityCouncil on February 11,2003.