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HomeMy WebLinkAboutResolution 89-11 .. ,r .. RESOLUTION NO. ~ 1-1/ A RESOLUTION OF THE CITY OF OCOEE, FLORIDA APPROVING AN EQUIPMENT LEASE/PURCHASE AGREE- MENT AND DESIGNnTING IT AS A QUALIFIED TAX- EXEMPT OBLIGATION. . RESOLVED, that this city enter into a certain Equipment Lease/Purchase Agreement with The citi7.ens and South0.rn National Ban).::. (hereinafter called "Lessor") in the form attached hereto and by this reference made a part hereof (the "Equipment Lease") and that this city lease equipment from Lessor pursuant to the terms of such Equipment Lease; and that the Mayor and the city Clerk of this city be and hereby are authorized and directed in the name and on behalf of this city to execute the Equipment Lease with Lessor in substantially the form presented to this meeting, with such changes therein and additions thereto as shall be approved by such officers who execute tile same, and such execution shall be conclusive evidence that each such document so executed has been authorized and approved by thiE: vote. FURTHER RESOLVED, that the obligations of the city under tile Equipment Lease be hereby designated, pursuant to section \ 265(b) (3) (D) of the Internal Revenue Code of 1986, as amended (hereinafterlcalled the "Code"), as comprising a portion of the $10,000,000.00 in aggregate issues which may be designated as "Qualified Tax-Exempt Obligations" eligible for the exceptioll to the general rule of the Code which provides for a total disallow- ance of a deduction for interest eXpenSE! allocable to the carrying of tax-exempt obligations. FURTHER RESOLVED, that the Hayor and the city Clerk of this city be and hereby are authorized t:o execute and deliver such other instruments and take such other actions as they shilll deem necessary and desirable for the purpose of carrying out these resolutions. FURTHER RESOLVED, qwt the fOrE~going resolutions shall reamin in full force and effect until written notice of their amendment or rescission shall have been received by Lessor and that receipt of such notice shall not affect any action taken by Lessor prior thereto. FURTHER RESOLVED, that the Clerk of this city be and hereby is authorized and directed to certify to said lessor tile foregoing resolutions and that the provisions thereof are in con- formity with the charter of this city. ADOPTED this I~ day of July, 1989. . Attest: ~ -. /_~L-_ A~ Jean Gra~~~~lty C~k :'(Y _~:alL :7!~AI/~J TllcJffias R. Ison~Mayor----- FOR USE AND RELIANCE ONLY BY TIlE CITY OF OCOEE, APPROVED AS TO FORM AND LEGALITY, 'l'HIS 8L DAY OF ~l~ ,-1989 FOLEY & LARDNER, VAN DEN BERG, GAY, BURKE, WILSON & ARKIN ( SEAL) CIT~TTORNEY --11l-. ' By: JJ!!JJ f ~~~;L_ GNTMV1/1,758M(3) 01 (071 J 2/89) ,. "".;'" . CERTIFICATE Name of city: city of Ocoee, Florida Address: 150 North Lakeshore Drive Chartered under the laws of the state of Florida . I, .the undersigned, hereby certify that I am the Clerk of the above-named city (llereinafter called "this city"); that the following is a true copy of resolutions duly adopted by th~ city commission of this city at a meeting duly held on the IV'~ day of ,July, 1989, at whcih a quorum was present and acting ---- throughout, and that such resolutions have not been rescinded or modified and are now of full force and effect: RESOLVED, that this city enter into a certain Equipment Lease/Purchase Agreement with The citizens and Southern National Bank (hereinafter called "Lessor") in the form attaclled hereto' and by this reference made a part hereof (the "Equipment Lease") and that this city lease equipment from Lessor pursuant to tile terms of such Equipment Lease; and that the Mayor and the city Clerk of this city be and hereby are authorized and directed in the name and on behalf of this city to execute the Equipment Lease with Lessor in substantially the form presented tO,this meeting, with such changes therein and additions thereto as shall be approved by such officers who execute the same, and such execution shall be conclusive evidence that each such document so execuL-.ed has been authorized and approved by thi~::; vote. FURTHER RESOLVED, that the obligations of the city under the Equipment Lease be hereby designated, pursuant to section 265(b) (3) (D) of the Internal Hevenue Code of 1986, as amended (hereinafter called the "Code"), as comprising a portion of the $10,000,000.00 in aggregate issues whicll may be designated as "Qualified Tax-Exempt Obligations" eligible for the exception to the general rule of the Code which provides for a total disallow- ance of a deduction for interest expense allocable to the carrying of tax-exempt obligations. FURTHER RESOLVED, that the Mayor and the city Clerk of this City be and hereby are authorized to execute and deliver such other instruments and take such other actions as they shall deem necessary and desirable for the purpose of carrying out these resolutions. . . FURTHER RESOLVED, that the foregoing resolutions shall reamin in full force and effect until written notice of their amendment or rescission shall have been received by Lessor and that receipt of SUCII notice shall not affect any action taken by Lessor prio~ thereto. FURTHER RESOLVED, that the Clerk of this city be and hereby is authorized and directed to certify to said lessor tile foregoing ,resolutions and that the provisions thereof are in con- formity~~ith the charter of this city. I further certify that there is no provision in the charter of this city limiting the power of the city Commission to pass the foregoing resolutions and that the same are in conformithy with the provisions of said charter. I further certify that the following are the names and official signatures of those persons authorized to act by the foregoing resolutions: . . NAME TITLE Thomas R. Ison Mayor Jean Grafton city IN WITNESS WHEREOF, and affixed the seal of this SlGN1\TURE Y' :!=II-- f ~~.P- Clerk 0:__ ~'-- -2Ja-~I/&:---'- _~_~ I have hereun sUbscribL:-'~lY nnme city, this \R _ day of July, 1989. ~l ~.J bl~jA/ JEAjr,RAFT'ON, ~ftf!/fu~rk [SEAL] FOR USE AND RELIANCE ONLY BY TIlE CITY OF OCOEE, APPROVED AS TO FORM AND L~~ALI'rY, THIS :d:l_ DAY OF ; t~ ' 1989 FOLEY & LARDNER, VAN DEN BERG, GAY, BURKE, WILSON & ARKIN CITY tlTORNEY By: ~fJ2J}) f/~jjJJ GNTMV1/ I,] 58L (2) 01 (07/12/89) - 2 - "....1