Resolution 05-1137EX B13IT C-1
Lease Number: [01]
Equipinent Schedule: 01
RESOLUTION NO. 05-1137
A RESOLUTION OF THE CITY COMMISSION OF THE
CITY OF LONGWOOD, FLORIDA., AUTHORIZING THE
EXECUTION AND DELIVERY OF A MASTER LEASE
AGREEMENT, :EQUIPMENT SCHEDULE NO. 01, AN
ESCROW AGREEMENT, AND RELATED INSTRUI'IENTS,
WITH SUNTRUST LEASING CORPORATION;
'AUTHORIZING A LEASE OF COMPUTEWTELEPHONE
EQUIPMENT THEREUNDER; AUTHORIZING THE
EXECUTION OF SUCH OTHER DOCUMENTS AS MAY
BE NECESSARY TO COMPLETE THE TRANSACTIONS
CONTEMPLATED HEREBY; A:�M PROVIDING AN
EFFECTIVE DATE.
WHEREAS, the goveinn].g body of City of Long wood ("Lessee") desires to obtain
certain equipment (the "Equipment") described in. Equipment Schedule No. 01 to the Master
Lease Agreement (collectively, the "Lease") with ;>unTrust Leasing Corporation, the
form of which has been available for review by the governing body of Lessee prior to this
meeting; and
WHEA REAS, the Equipment is essential for the Lessee to perform its governmental
functions; and
WHEREAS, the funds made available Linder the Lease will be deposited with
SunTrust Bank (the "Escrow Agent") pursuant to an. Escrow Agreement between Lessee
and the Escrow Agent (the "Escrow Agreement") and will. be applied to the acquisition of
the Equipment in accordance with. said. Escrow Agreement; and
WO[IEREAS, Lessee has taken the necessary steps, including those relating to any
applicable legal biddi ig requirements, to airange for the acquisition of the Equipment; and
1AWEREAS, Lessee proposes to enter into the Lease with SunTrust Leasing
Corporation and the Escrow Agreement with the Escrow Agent substantially in. the fo nis
presented to this meeting.
NOW, THEREFORE, BE IT RESOLVED BY Tl-JE, CITY COMMISSION OF THE
CITY OF LONGWOOD, FLORIDA AS FOLLOWS:
Section L It is hereby fourid and determined that the terms of the Lease and the Escrow
Agreement (collectively, the "Financing Documents") in the forms presented to this meeting
and nlcoiporated. in this resolution. are in the best ir.terests of Lessee for the acquisition of
the Equipment.
Section 2. The Financing Docurnnents and. the acquisition and financing of the Equipment
under tlne terms and conditions as described in the Financing Documents are hereby
approved. The Mayor of City of Longwood anal alny 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, a.cluiowledge 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 saine.
Section 3. 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 carrying out this resolution and the Financing Documents.
Section 4. Pursuant to Section 265(4) 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.
The undersigned further certifies that the above resolution has not been repealed
or amended and remains ill frill force and effect and further certifies that the Lease and.
Escrow Agreement executed on behalf of Lessee are the same as presented at such meeting
of the govering body of Lessee, excepting only such changes, insertions and omissions as
shall have been approved by the officers who executed the same.
PASSED AND ADOPTED THIS 5 ��`DAY OF 10,_za nb r A.D., 2005.
By:
NL,�tmjt� &4', )W_
j� Haywood G. Bundy/,Jr., Mayor
Attest:
Sarah 1Vr Mijares, City C erk
Approved as to form and legality for the use and reliance of the City of Longwood,
Florida, only.