HomeMy WebLinkAbout1998-R-01ARESOLUTIONS
Municipality/Lessee: Jeffersonvil[e Municinal Sewaoe Uti[ltv
Principal Amount Expected To Be Financed: $130,939.00
WHEREAS, the Municipality is a political subdivision of the State in which Municipality is located (the "State") and is duly
organized and existing pursuant to the Constitution and laws of the State.
WHEREAS, pursuant to applicable law, the governing body of the Municipality ("Governing Body") is authorized to acquire,
dispose of and encumber reat and personal property, including, without limitation, rights and interest in property, leases and
easements necessary to the functions or operations of the Municipality.
WHEREAS, the Governing Body hereby finds and determines that the execution of one or more lease-purchase agreements
("Equipment Leases") in the principal amount not exceeding the amount stated above for the purpose of acquiring the property
("Equipment") to be described in the Equipment Leases is appropriate and necessary to the functions and operations of the
Municipality.
WHEREAS, Banc One Leasing Corporation ("Lessor") shall act as Lessor under said Equipment Leases.
NOW, THEREFORE, Be It Ordained by the Governing Body of the Municipality:
Section '1. Either one ofthe~Y~,~?b~{T~0~/[S ~, ~4U~Ib~,J OR the (each an
"Authorized Representative") acting on behalf of the Municipality, is hereby authorized to negotiate, enter into, execute, and
deliver one or more Equipment Leases in substantially the form set forth in the document presently before the Governing Body,
which document is available for public inspecfion at the office of the Municipality. Each Authorized Representative acting on
behalf of the Municipality is hereby authorized to negotiate, enter into, execute, and deliver such other documents relating to
the Equipment Lease as the Authorized Representative deems necessary and appropriate. All other related contracts and
agreements necessary and incidental to the Equipment Leases ara hereby authorized.
Section 2. By a written instrument signed by any Authorized Representative, said Authorized Representative may designate
specifically idenifled officers or employees of the Municipality to execute and deliver agreements and documents relating to the
Equipment Leases on behalf cf the Municipality.
Section 3. The aggregate original principal amount of the Equipment Leases shall not exceed the amount stated above and
shall bear interest as set forth in the Equipment Leases and the Equipment Leases shall contain such options to purchase by
the Municipality as set forth therein.
Section 4. The Municipality's obligations under the Equipment Leases shall be subject to annual appropriation or ranewa[ by
the Governing Body as set forth in each Equipment Lease and the Municipality's obligations under the Equipment Leases shall
not constitute a general obligations of the Municipality or indebtedness under the Constitution or laws of the State.
Section 5. As to each Equipment Lease, the Municipality reasonably anticipates to issue not more than $10,000,000 °f
tax-exempt obligations (other than "private activity bonds" which are not "qualified 501 (c)(3) bonds") during the fiscal year in
which each such Equipment Lease is issued and hereby designates each Equipment Lease as a qualified tax-exempt
obligation for purposes of Section 265(b) of the Internal Revenue Code of 1986, as amended.
MLDRES (01) 4/26/96
Section 6. This resolution shall take effect immediately upon its adoption and approval.
ADOPTED AND APPROVED on this ~)')~Fl' ~ ~ ,19~5'~
The undersigned Secretary/Clerk of the above-named Municipality hereby certifies and attests that the undersigned has
access to the official records of the Governing Body of the Municipality, that the foregoing resolutions were duly adopted by
said Governing Body of the Municipality at a meeting of said Governing Body and that such resolutions have not been
amended or altered and are in full force and effect on the date stated below.
Si~n~t~rl~ o~ Municipality
PrintName: (~z. ~l&/'l~ '~I~,~' /V ~:,~' "-..~*'
ate: d-.Z ?- ?
MLDRES (01) 4~26~96