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18-3029 FY 2018 Capital Lease Agreement with SunTrust Equipment Fiannce & Leasing Corp. Schedules 20 & 21
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18-3029 FY 2018 Capital Lease Agreement with SunTrust Equipment Fiannce & Leasing Corp. Schedules 20 & 21
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6/14/2018 2:09:28 PM
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6/14/2018 2:09:26 PM
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City Clerk
City Clerk - Doc Type
Resolutions
City Clerk - Date
6/11/2018
Doc Number
18-3029
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SECTION 3. The Financing Documents and the acquisition and financing of the <br />equipment under the terms and conditions as described in the Financing Documents are hereby <br />approved. The Mayor/Commissioner of the City is authorized to execute, acknowledge and <br />deliver the Financing Documents with any changes, insertions and omissions therein as may be <br />approved by the officers who execute the Financing Documents, such approval to be <br />conclusively evidenced by such execution and delivery of the Financing Documents. The City <br />Clerk of the City is authorized to affix the official seal of the City to the Financing Documents <br />and attest the same. <br />SECTION 4. Pursuant to Section 265(b) of the Internal Revenue Code of 1986, as <br />amended (the Code"), the City hereby specifically designates the lease as a "qualified tax exempt <br />obligation" for purposes of Section 265(b)(3) of the Code. <br />SECTION 5. Conflicts. All Resolutions or parts of Resolutions in conflict with any of the <br />provisions of this Resolution are hereby repealed. <br />SECTION 6. Severability. If any Section or portion of a Section of this Resolution proves <br />to be invalid, unlawful, or unconstitutional, it shall not be held to invalidate or impair the <br />validity, force, or effect of any other Section or part of this Resolution. <br />SECTION 7. Effective Date. This Resolution shall become effective immediately upon <br />its passage and adoption. <br />PASSED and ADOPTED this i �' day of n(L., , A.D., 2018. <br />ATTEST: <br />Donna G. Gardner <br />City Clerk <br />Charlene Glancy <br />Mayor/Commissioner <br />
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