HomeMy WebLinkAbout2003-004 Equipment Lease[Non-Escrow]
Master Lease Agreement Number: 122029
Supplement Number: 122029-400
RESOLUTION #4-2003
RESOLUTION OF GOVERNING BODY
At a duly called meeting of the governing body of Lessee held in accordance with all
applicable legal requirements, including open meeting laws, on the 9TH day of D~..CEMBER ,
2003, the following resolution was introduced and adopted:
RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF A
GOVERNMENTAL LEASE-PURCHASE MASTER AGREEMENT NO. 122029,
SUPPLEMENT NO. 122029-400 AND RELATED INSTRUMENTS, AND
DETERMINING OTHER MATTERS IN CONNECTION THEREWITH.
WHEREAS, the governing body o f the City of C hubbuck ("Lessee") desires to obtain
certain equipment (the "Equipment") described in Supplement No. 122029-400 to the
Governmental Lease-Purchase M aster Agreement N o. 1 22029 (collectively, t he "Lease") with
Wells Fargo Equipment Finance, Inc. ("Lessor"), the form of which has been available for
review by the governing body of Lessee prior to this meeting; and
WHEREAS, the Equipment is eSsential for the Lessee to perform its governmental
functions; and
WHEREAS, the funds made available under the Lease will be applied to the acquisition
of the Equipment in accordance with such Lease; and
WHEREAS, Lessee has taken the necessary steps, including those relating to any
applicable legal bidding requirements, to arrange for the acquisition of the Equipment; and
WHEREAS, Lessee proposes to enter into the Lease with Lessor substantially in the form
presented to this meeting.
NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY OF
LESSEE AS FOLLOWS:
Section l. It is hereby found a nd determined t hat t he terms o f t he Lease i n t he form
presented to this meeting and incorporated in this resolution are in the best interests of Lessee for
the acquisition of the Equipment.
Section 2. The Lease and the acquisition and financing of the Equipment under the terms
and conditions as described in the Lease are hereby approved. The MAYOR 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 Lease
with any changes, insertions and omissions therein as may be approved by the officers who
execute the Lease, such approval to be conclusively evidenced by such execution and delivery of
the Lease. The MAYOR 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 Lease and attest the same.
Section 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 Lease.
Section 4. Pursuant to Section 265(b) of the Internal Revenue Code of 1986, as amended
(the "Code"), Lessee hereby specifically designates the Lease as a "qualified tax-exempt
obligation" for purposes of Section 265(1>)(3) of the Code.
The undersigned further certifies that the above resolution has not been repealed or
amended and remains in full force and effect and further certifies that the Lease executed on
behalf of Lessee is the same as presented at such meeting of the governing body of Lessee,
excepting only such changes, insertions and omissions as shall have been approved by the
officers who executed the same.
Date: DECEMBER 9T~2003
Lessee: City of Chubbuck
Address: 5160 Yellowstone Avenue
Chubbuck, ID 83202
Attention:
Telephone:
Facsimile:
Ron Conlin
208-237-2400
208-237-2409
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