2001 AGN DEC 18 I16 - Laserfiche WebLink

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2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 deliver said Site Lease for and in the name and on behalf of the City in the form her,6 approved, with such changes as the City Manager may approve, after consultation with the C Attorney, such approval to be conclusively evidenced by the execution and delivery thereof. Section 3. Lease Agreement. The form of agreement entitled "Lease Agreemei (Real Property and Equipment) presented to this meeting and to be entered into by ai between the City, as lessee, and an entity to be determined as set forth in Section 4 hereof, lessor (the "Lessor"), which provides generally for (i) the financing of the Project, (ii) the lea and purchase of the Project by the City from the Lessor, and (iii) the payment by the City to tl Lessor of lease payments from any source of legally available moneys of the City, is here approved, and any of the mayor, the Mayor Pro Tem or the City Manager are hereby authorize and directed to execute and deliver said Lease Agreement for and in the name and on behalf the City in the form hereby approved, with such changes as the City Manager may appro% after consultation with the City Attorney, such approval to be conclusively evidenced by t execution and delivery thereof. Section 4. Lessor. The City hereby authorized the City's financial advisor Wedbu Morgan Securities (the "Financial Advisor"), to recommend an entity to provide lease purcha financing for the Project (the "Lessor"), and to act as lessee under the Site Lease and as les: under the Lease Agreement. The City Manager, in consultation with the Financial Advisor, authorized to select the Lessor; provided that the interest rate or rates offered by the Lessor 1 the lease payments under the Lease Agreement and the other terms of the Lease Agreeme are determined to be the most favorable for the City, and provided further that the interest r on any of the lease payments, in any event, shall not exceed six percent per annum. Section 5. Certificates as Qualified Tax -Exempt Obligations. The City intends its lease payment obligation pursuant to the Lease Agreement will qualify as "qualified to exempt obligations" within the meaning of Section 265(b)(3x8) of the Internal Revenue Code 1986, as amended (the "Code"). The City represents, covenants and warrants that it and subordinate entities have not and will not issue tax-exempt obligations (including its lea payment obligation pursuant to the Lease Agreement) in the aggregate principal amount more that $10,000,000 during the 2001 calendar year. Section 6. Requisitions. Any of the mayor, Mayor Pro Tem or City Manager hereby authorized and directed to execute one or more requisitions authorizing the payment the costs of the lease financing from the proceeds of the lease pursuant to the Lea Agreement and to execute and deliver Lease Supplements pursuant to the Lease Agreement.