HomeMy WebLinkAbout05-209 CITY OF LAKEVILLE
RESOLUTION
Date December 5, 2005 Resolution No. 05-209
Motion By Luick Seconded By Wulff
RESOLUTION APPROVING AND AUTHORIZING
THE EXECUTION OF A GOVERNMENTAL LEASE-PURCHASE
AGREEMENT AND SUPPLEMENTS THERETO
AND RELATED DOCUMENTS AND CERTIFICATES
BE IT RESOLVED by the City Council of the City of Lakeville, State of Minnesota, as follows:
1.) .The Governmental Lease-Purchase Agreement (the "Agreement") and the Supplement or
Supplements thereto ..and the Escrow Agreement, if any, are hereby approved substantially in the form
presented to this Council and on file in the office of the Clerk.
2.) The Finance Director of the City is hereby authorized to execute the. Agreement and any
Supplement or Supplements thereto on behalf of the City, and to execute such other certificates and
documents as may be necessary and appropriate to effectuate the transactions contemplated by the
• Agreement and said Supplement or Supplements. The Agreement, the Supplement or Supplements and
the related documents may. contain such necessary and appropriate variations, omissions and insertions
as the Finance Director shall determine to be necessary, and the execution thereof by the Finance
Director shall be conclusive evidence of such determination and its approval by the Council.
3.) Lessee reasonably anticipates that it will not issue tax-exempt obligations (not including.
"private activity bonds" as defined in Section 141 of the Internal Revenue Code of 1986, as amended) in
an aggregate amount in excess of $10 million during the calendar year in which the Lease commences.
The lease is designated as a qualified tax-exempt obligation for purposes of Section 265(b)(c) of the
Internal Revenue Code of 1986, as amended, relating to deductibility of interest by financial institutions.
APPROVED AND ADOPTED this 5th day of December, 2005.
CITY OF LAKEVILLE,
By:
Robert D. Jo on, Mayor
ATTEST:
l~ .
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• Charlene Friedges, Ci lerk