HomeMy WebLinkAbout09754RESOLUTION NO. 9754
A RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF A MASTER LEASE
AGREEMENT, EQUIPMENT SCHEDULE NO. 01, AND RELATED INSTRUMENTS, AND
DETERMINING OTHER MATTERS IN CONNECTION THEREWITH
WHEREAS, the governing body of Pueblo, a Municipal Corporation ( "Lessee ") desires to
obtain certain equipment (the "Equipment ") described in Equipment Schedule No. 01 to the Master
Lease Agreement (collectively, the "Lease ") with Leasing 2, Inc., the form of which has been available
for review by the governing body of Lessee prior to this meeting; and
and
WHEREAS, the Equipment is essential for the Lessee to perform its governmental functions;
WHEREAS, the funds made available under the Lease will be deposited into an Escrow
Account pursuant to the Lease and will be applied to the acquisition of the Equipment in accordance
with the 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 Leasing 2, Inc., substantially in the
form presented to this meeting.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF PUEBLO, that:
SECTION 1.
It is hereby found and determined that the terms of the Lease and related instruments
(collectively, the "Financing Documents ") in the forms 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 Financing Documents and the acquisition and financing of the Equipment under the terms
and conditions as described in the Financing Documents are hereby approved. The President of City
Council 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
Financing Documents with any changes, insertions and omissions therein as may be approved by the
officers who execute the Financing Documents, such approval to be conclusively evidenced by such
execution and delivery of the Financing Documents. The City Clerk 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 Financing Documents and attest the same. 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 carving out this resolution and the Financing
Documents. 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(b)(3) of the Code.
INTRODUCED December 23, 2002
BY Al Gurule
Councilperson
APPROVED:
resident of City Council
ATTEST:
City C