06-1643 Lease Rescue Vehicle - Laserfiche WebLink

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Sedloa 3. Dldmnement ofFDDdI~ Rmnbaneml!at m' -- 3.1. It ;. eon!empleted that the entire Principal Amount depooited in escrow will be uted 10 pay the acquisition cost of Equipmenl to the 1I8UIon or menlJfiletunn thmof, provided that, if applicable, a portion of the principal amount may b. paid to Lessee as reimbursement for ocquiIition _ payments already made by it so lon¡ as the conditi...s lIB! forth in Section 3.2 below &Ie satisfied. 3.2. Leooce shaU oot request that jt be reimbllnlCd for Equipment ""'!Ui,ìtian cost psymcnts a1Tcady made by it unl... each oflhe following condiIions have bcco sotisfied: (a) Lessee ado¡Xed.. r«ooJutj"" or 0Chfswi8c declared ilS øfticiaI intent in _ with TIOaOIIIy RcgulBlion ~ 1,150-2 (the "Declarotion of Official Inlent''), wherein Les.ee e.pr.,..ed its in_1o be mimb1ned fi'om the proceed. of a bmowing for all ar a portion of the cost of the Equipmen~ which expenditure ..... paid to the Vendor noc esrIier than .ix/y (60) days before Less.. adopœd the DecJ.ntiœ of Offici.11ntmt; (b) The reimbwaement bcin¡¡ l1ICuested will be made by a written alloc:alion befon! the ... of eighteen (18) months .fta- the expenditure was paid or eighteen (18) months after the items of Equipm<stt 10 which such psymenI relates __ p1aoed in servioe; (c) The emiR peytIIIIlt with resPoot 10 whlcb reimbursement is bein¡ SOII8f\t i. a capital expenditure. being a cost of a type properly c:hargesbIe to . a¡pital_ under ¡steral fèdAnl income tax ptinciples; and (d) Lossee will use any reimbunen1ent peyment for BIIetJ! operating ..pen... and not in. IJIII11I]C" which could be conatrIIed as an IrifIee or device under Treasury Reguletion ~ 1.148-10 10 avoid, in whole or in port, arbitnIgC yield restrictions or ubi... rd>ate recp¡iremenIs. Seeticm 4. U. ADd IDVHtmeDt øf hn.tk~ Temnan." Period.. 4.1. Lesæe h.. in........ or will incur, within six (6) months &om the date ofissuaDœ of the Financin¡ Doc111I11"1tS, binding obligations to pay an amount equa1 to et lees! live percent (5%) of the Principal A1t\OunI toward the .oIIs of the Equipment. An obligsrion is nor binding if it is subject to oonriDgencies withio L.....'s control. The onIerin¡ and acoeptanee of the itelns of Equipment will proceed with due diligenoe to the date offinal ac:eeptanec oflhe Equipment 4.2. An SD1O\.Blt equal 10 et least ei¡hty-flve percent (85%) of the PrineipeI Amount will be _<led to pay lbeC08t of the Equipment "oy the cod of the threo-year period commencin¡ on the dale of this Ccrtillcete. No portion of the Principel.Amo1mt will be U5ed to eequire in_ts thet do not <:any oct the govemmoortal pwpooe of the F...,.,ing Do<>.mIeIlts and that have . SIbotantioliy ¡uannteed yield offoor (4)ycerw or more. 4.3. (a) Leasee covenants and agrees tÞat it wiJl rebete en amotmt equa1 to ....... eominp on the Principal Amount depoaited =der the Escrow Agrecsna¡t to Ihe Internal Revenue Servioe if required by, and in aecordarK:c with, Section 148(1) of the Code, end make the ann".} deternúnati""" end maintain the records required "oy and od1<twiae comply with the regulation.s appliosble thereto. Leasee MBSCnabIy ..".... to cause the Equipment 10 be acquirod by July 25, 2001. (b) Leasee wiJl pro>ide ovidenoe 10 Lessor tÞat the reboIe amwnl has befII .oleuiated and psid to the Internal Rev..,,,,, Sc:rvioe iD aeeordanee wi'" Seetioo 148(1) of the Code!ll!!m (i) the entire Principal Amoont ia expended on the Equipment by the dew tÞat is the m.-moDth eonivcrsary of the Fmonolng ""'"',_.. or (ü) the PrincIpal Amount is ""ponded 00 die E<¡uipmmt in aeeordon.e with the following schedule: At 1_ fi~ percent (15%) of the Princípel Amount and int....t earnings thereon will be applied to the cost of the Equipment within six months &om the dote of issuance ofth. Financing Doeoments; at least ÃX/y percent (60%) of the Principal Amoont aIId ints:eIt ......¡ng. thereon will be applied to the CO'I of the Equipment witbjn 12 mooths from 1he dote of issean"" of the Financing DoctmJeols; and OM hundred percent (100%) of the Principal AmoUllt end interoet eaming. thereon will be epplied to the cost of the Equipment prior to ei¡hteen (I8) months from the dale ofissuance of the finaneing DoctunonIs. (.) Lesoee henby camœtts tÞat (I) Lesoee i. a ¡1Y\II:!nIIIeIII unit wi1h _01 UIx pt>"'MOr8; (ü) the Leaae is not a "pr:iVBlc activity bond" UDder Scx:tion 141 of the Code; (iü) et least oinety-five percent (95%) of the Prioeipal Amount j, Ulied for th. ~tal activities of Lessœ; and (iv) the eggre¡¡ete principal iIDUJUI of all ....-eJ<OIIIpI obligations (including the Leue) issued "oy L..... and it. subordinate entitles, if any, duriog the cum:nt ca1...... y_ is not laSOIlIbIy ""peeted to....... 55,000,000. Ac:cordingly, the ~bete requirements ofScx:tion 148(1) of the Code are treated as being møt, in lieu of the ~ exceptions .et forth in paragraph (b) ahove. SeetloD 5, Ii'~ Aecou.Dt. 1110 Finonoing Doeunuoots provide that the moni.. deposited in eoerow shall be inveeted until payment& to the veouIa(.) or I/IJI7OII6:FL-a.,-.OOcn...CI8IOOIIII 6