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HomeMy WebLinkAbout2002-R-26 RESOLUTION No. 2002-R- A Resolution Approving Lease Financing Agreement For Purchase Of Fire Truck City/Lessee: City of Jeffersonville Principal Amount Expected To Be Financed: $490,111.00 WHEREAS, the City of Jeffersonville (the "City") is a political subdivision of the State of Indiana (the "State") and is duly organized and existing pursuant to the Constitution and laws of the State; and WHEREAS, pursuant to applicable law, the Jeffersonville Common Council ("Governing Body") is authorized to approve financing encumbering real and personal property, including, without limitation, rights and interest in property, leases and easements necessary to the functions or operations of the City. WHEREAS, the Governing Body hereby finds and determines that the execution of one or more Master Lease-Purchase Agreements ("Leases") in the principal amount not exceeding the amount stated above fo[ the purpose of acquiring the property ("Equipment") to be described in the Leases is appropriate and necessary to the functions and operations of the City. WHEREAS, Oshkosh Capital ("Lessor") shall act as Lessor under said Leases. NOW, THEREFORE, Be It Ordained by the Governing Body of the City: Section 1. The Mayor of the City (the "Authorized Representative"), acting on behalf of the City, is hereby authorized to negotiate, enter into, execute, and deliver one or more Leases in substantially the form set forth in the document presently before the Governing Body, which document is available for public inspection at the office of the City. The Authorized Representative acting on behalf of the City is hereby authorized to negotiate, enter into, execute, and deliver such other documents relating to the Lease as the Authorized Representative deems necessary and appropriate. All other related contracts and agreements necessary and incidental to the Leases are hereby authorized. Section 2. By a written instrument signed by any Authorized Representative, said Authorized Representative may designate specifically identified officers or employees of the City to execute and deliver agreements and documents relating to the Leases on behalf of the City. Section 3. The aggregate original principal amount of the Leases shall not exceed the amount stated above and shall bear interest as set forth in the Leases and the Leases shall contain such options to purchase by the City as set forth therein. Section 4. The City's obligations under the Leases shall be subject to annual appropriation or renewal by the Governing Body as set forth in each Lease and the City's obligations under the Leases shall not constitute general obligations of the City or indebtedness under the Constitution or laws of the State. Section 5. As to each Lease, the City reasonably anticipates to issue not more than $10,000,000 of tax- exempt obligations (other than "private activity bonds" which are not "qualified 501(c)(3) bonds") during the fiscal year in which each such Lease is issued and hereby designates each Lease as a qualified tax- exempt obligation for purposes of Section 265(b) of the Internal Revenue Code of 1986, as amended. Section 6. This resolution shall take effect immediately upon its adoption and approval. ADOPTED AND APPROVED on this IO, day of~, 2002. ~lgan.~Pre~ fflG~er ATTEST: (~)~ \~ Peggy Clerk-Treasurer Presented by me as Clerk-Treasurer to the Mayor of said City of Jeffersonville at c1 o'clock~._m., this ~ day of ~tQ~;~_~, 2002. Peggy Wilder Clerk-Treasurer Approved and signed by me at ~=~, 2002. ~_c'~ o'cloc~ ~ .m., thisbe..\ day of The undersigned Clerk-Treasurer of the above-named City hereby certifies and attests that the undersigned has access to the official records of the Governing Body of the City, that the foregoing resolution was duly adopted by the Governing Body of the City at a meeting of the Governing Body and that such resolutions have not been amended or altered and are in full force and effect on the date stated below. LESSEE: City of Jeffersonville Peggy Wilder, ~=~le~'k-Treasu rer [SEAL] CERTIFICATE OF INCUMBENCY Lessee: City of Jeffersonville Lease Schedule No.: Dated: Au,qust 15, 2002 I, the undersigned Clerk-Treasurer identified below, do hereby certify that I am the duly elected or appointed and acting Clerk-Treasurer of the above Lessee (the "Lessee"), a political subdivision duly organized and existing under the laws of the State of Indiana, that I have the title stated below, and that, as of the date hereof, the individuals named below are the duly elected or appointed officers of the Lessee holding the offices set forth opposite their respective names. [NOTE: Use same titles as Authorized Representatives stated in Resolutions,] Thomas R. Galligan Peggy Wilder Mayor and Presiding Officer of the Common Council Clerk-Treasurer IN WITNESS WHEREOF, I have duly executed this certificate and affixed the seal of such Lessee as of the date set forth below. Peggy Wildc~,'~'~rk-Treasurer of Lessee [SEAL]