2669_00001RESOLUTION NO.2669
ARESOLUTION AUTHORIZINGTHE EXECUTIONANDDELIVERYOF AMASTER EQUIPMENTLEASElPURCHASEAGREEMENT,ANDRELATEDINSTRUMENTS,AND DETERMININGOTHERMATTERSINCONNECTIONTHEREWITH
Recitals:
1.The governing body of the Cityof Moses Lake has determined that a true and very real need existsfortheequipmentdescribedintheproposedMasterEquipmentLease/Purchase Agreement withFirstMunicipalLeasingCorporationpresentedatthismeeting.
2.Lessee has taken the necessary steps,including those relating to any applicable legal biddingrequirements,to arrange for the acquisition of the equipment.
3.Lessee proposes toenter intothe agreement with First Municipal Leasing Corporation substantiallyintheformpresentedatthismeeting.
4.Lessee reasonably anticipates thatitand itssubordinate entities willnot issue 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 acquisitionand financing of the equipment under the terms andconditionsasdescribedintheFinancingDocumentsareherebyapproved.The CityManager of theCityofMosesLakeandanyotherofficeroftheCityofMosesLakewhoshallhavepowertoexecutecontractsonbehalfoftheCityofMosesLakebe,and each of themhereby is,authorizedtoexecute,acknowledge and deliver the agreement with any changes,insertions and omissions therein as maybeapprovedbytheofficerswhoexecutetheagreement,such approval tobe conclusively evidencedbysuchexecutionanddeliveryoftheagreement.The City Manager of the Cityof Moses Lake and
any other officer of the City of Moses Lake who shall have power to do so be,and each of themherebyis,authorized to affixthe officialseal of the City of Moses Lake tothe agreement and attestthesame.
3.The proper officers oftheCityof Moses Lake be,and each of themhereby is,authorizedand directedOtoexecuteanddeliveranyandallpapers,instruments,opinions,certificates,affidavits and otherdocumentsandtodoorcausetobedoneanyandallotheractsandthingsnecessaryorproperforcarryingoutthisresolutionandtheagreement,
4.Pursuant to Section 265(b)ofthe Internal Revenue Code of 1986,as amended,the Cityof MosesLakeherebyspecificallydesignatestheLeaseasa"qualified tax-exemptobligation"for purposes ofSection265(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 andremainsinfullforceandeffectandfurthercertifiesthatthewithinMasterEquipmentLease/PurchaseAgreementisthesameaspresentedatsaidmeetingoftheCityCounciloftheCityofMosesLake.
Adopted by the CityCouncil on February 8,2005
Ronald C,Co ey,MayorATTEST:
WonaldR.Cone,Finance Director
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