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2 <br />3 <br />4 <br />5 <br />6 <br />7 <br />8 <br />9 <br />10 <br />11 <br />12 <br />13 <br />14 <br />15 <br />16 <br />17 <br />18 <br />19 <br />20 <br />21 <br />22 <br />23 <br />24 <br />25 <br />26 <br />27 <br />28 <br />WHEREAS, the Board deems it for the benefit of the Lessee and the efficient and <br />effective administration thereof to enter into the Master Lease and the separate Lease <br />Schedules relating thereto from time to time as provided in the Master Lease for the purchase, <br />acquisition, financing and leasing of the Equipment to be therein more specifically described <br />on the terms and conditions provided therein and herein;. <br />NOW, THEREFORE, BE IT AND IT IS HEREBY RESOLVED BY THE <br />GOVERNING BODY OF THE LESSEE AS FOLLOWS: <br />SECTION 1: It is hereby found and determined that the terms of the Master Lease <br />(including the form of Lease Schedule and Payment Schedule attached thereto), in the <br />form presented to this meeting are in the best interests of the Lessee for the acquisition, <br />purchase, financing and leasing of the Equipment. <br />SECTION 2: The form, terms and provisions of the Master Lease (including the form <br />of Lease Schedule and Payment Schedule attached thereto) are hereby approved in the <br />forms presented at this meeting, with such insertions, omissions and changes as shall be <br />approved by the City Manager of the Lessee (the "Authorized Officers ") executing the <br />same, the execution of such documents being conclusive evidence of such approval. <br />The Authorized Officers of the Lessee are each hereby authorized and directed to sign <br />and deliver the Master Lease, each Lease Schedule thereto, each payment Schedule <br />relating thereto and any related exhibits attached thereto if and when required; <br />provided, however, that, without further authorization from the governing body of the <br />Lessee, (a) the aggregate principal component of Rent Payments under all Leases <br />entered into pursuant to the Master Lease shall not exceed $964957.44' (b) the <br />maximum term under any Lease entered into pursuant to the Master Lease shall not <br />exceed 5 years; and (c) the maximum interest rate used to determine the interest <br />component of Rent Payments under each Least shall not exceed the lesser of the <br />maximum rate permitted by law or ten percent (10%) per annum. The Authorized <br />Officers may sign and deliver Leases to the Lessor on behalf of the Lessee pursuant to <br />the Master Lease on such terms and conditions as they shall determine are in the best <br />interests of the Lessee up to the maximum aggregate principal component, maximum <br />term and maximum interest rate provided above. The foregoing authorization shall <br />remain in effect for a period of two years from the date hereof during which the <br />Authorized Officers are authorized to sign and deliver Leases pursuant to the Master <br />Lease on the terms and conditions herein provided to be provided in each such Lease. <br />SECTION 3: The Authorized Officers and other officers and employees of the Lessee <br />shall take all action necessary or reasonably required to carry out, give effect to and <br />consummate the transactions contemplated by the Master Lease and each Lease <br />schedule (including, but not limited to, the execution and delivery of the certificates <br />