HomeMy WebLinkAboutCity Council Resolutions (R-15-3923)-10/20/2015 RESOLUTION R-15-3923
A RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF
A MASTER TAX-EXEMPT LEASE/PURCHASE AGREEMENT
WITH LEASING 2, INC.
WHEREAS, the City of Colleyville City Council desires to obtain certain
equipment (the Equipment) described in Exhibit A - Property
Description to the Master Tax-Exempt Lease/Purchase
Agreement (collectively, the "Lease") with Leasing 2, Inc.
(Lessor), the form of which has been available for review by
the governing body Of Lessee prior to the meeting; and
WHEREAS, the Equipment is essential for the City of Colleyville to perform
its governmental functions; and
WHEREAS, the funds made available under the Lease will be applied to the
acquisition of the Equipment in accordance with such Lease;
and
WHEREAS, Lessee has taken the necessary steps, including those relating
to any applicable legal bidding requirements, to arrange for the
acquisition of the Equipment; and
WHEREAS, Lessee proposes to enter into the Lease with Lessor
substantially in the form presented at a duly called meeting of
the governing body of Lessee held in accordance with all
applicable legal requirements, including open meeting laws, on
the 20th day of October 2015; and
WHEREAS, all legal prerequisites for the approval of this Resolution have
been met, including but not limited to the Open Meetings Act.
NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE
CITY OF COLLEYVILLE, TEXAS:
Sec. 1. THAT all matters stated above are found to be true and correct"
and are incorporated herein by reference as if copied in their
entirety.
Sec. 2. THAT it is hereby found and determined that the terms of the
Lease in the form presented to this meeting and incorporated
in this resolution are in the best interests of Lessee for the
acquisition of the Equipment.
Resolution R-15-3923
Page 2 of 2
Sec. 3. THAT the Lease and the acquisition and financing of the
Equipment under the terms and conditions as described in the
Lease are hereby approved. The Mayor of the City of
Colleyville, shall have power to execute contracts on behalf of
the City of Colleyville, is authorized to execute, acknowledge
and deliver the Lease with any changes, insertions and
omissions therein as may be approved by the officers who
execute the Lease, such approval to be conclusively evidenced
by such execution and delivery of the Lease.
Sec. 4. THAT the Mayor of the City of Colleyville is authorized and
directed to execute and deliver any and all papers,
instruments, opinions, certificates, affidavits and other
document 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 Lease.
Sec. 5. THAT pursuant to Section 265(b) 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)(B) of the Code.
Sec. 6. THAT the undersigned further certifies that the above
resolution has not been repealed or amended and remains in
full force and effect and further certifies that the Lease
executed on behalf of Lessee is the same as presented at such
meeting of the governing body of Lessee, excepting only such
changes; insertions and omissions as shall have been approved
by the officers who executed them.
AND IT IS SO RESOLVED.
APPROVED BY A VOTE OF AYES , NAYS D;AND C' ABSTENTIONS, THIS
20TH DAY OF OCTOBER 2015.
:ATTEST: CITY OF COLLEYVILLE
' / '
= Amy elley, TRMC David Kelly
_ City Secretary Mayor