HomeMy WebLinkAboutResolution #3624First Capital Group, Inc.
~k3624
EXHIBIT E to
STATE AND MUNICIPAL LEASEIPURCHASE AGREEMENT # 202-0035-001
CERTIFICATE OF RESOLUTIONS
I, , do hereby certify that I am the duly elected, or appointed and acting Secretary/Clerk of the City of
Canton, an agency/subdivision duly organized and existing under the laws of the State of Illinois (the "Lessee"), and that the following
resolutions have been presented to and duly adopted by the at a meeting duly and regularly held and
convened in accordance with applicable law on the _ day of , 2002.
WHEREAS, the Lessee is entering a State and Municipal Lease/Purchase Agreement ("Lease") dated
Capital Group, Inc.;
2002, with First
WHEREAS, Lessee has carefully reviewed its financing requirements for the current calendar year and reasonably expects that it will not
issue more than ten million dollars ($10,000,000) of tax-exempt obligations during the calendar year;
WHEREAS, the source of funds in the current fiscal year's budget is for
lease/purchase payments due under the Agreement. We expect and anticipate adequate funds to be available for all future lease/purchase
payments after the current fiscal year for the following reasons:
NOW, THEREFORE, be it RESOLVED, that the Lessee be, and hereby is, authorized to enter into the Lease with First Capital Group, Inc.
for a period of 60 months, and be it further
RESOLVED, that an official of the Lessee be, and hereby is, authorized, empowered and directed to sign on its behalf the Lease and
any addenda, schedules, notes, UCC financing statements or other instruments issued under the provision of the Lease and any other
instrument or document which may be necessary or expedient in connection with agreement upon or fulfillment of the provisions of the
Lease.
RESOLVED, that pursuant to Section 265(b) (3) of the Internal Revenue Code of 1986, as amended, this Lease be and hereby is
designated a "qualified tax-exempt obligation" includable within the ten million dollars ($10,000,000) of the aggregate issues designated
as "qualified tax-exempt obligations" for the calendar year within which this Lease is entered into.
RESOLVED, that Lessee shall not designate more than ten million dollars ($10,000,000) of tax-exempt obligations during the current
calendar year as qualified tax-exempt obligations and Lessee, together with its subordinate entities, does not reasonably expect to issue
more than ten million dollars ($10,000,000) of tax-exempt obligations during the current calendar year.
RESOLVED, the equipment as described in Exhibit "A" of such agreement is essential to the function of the undersigned or to the service
we provide to our citizens. Further, we have an immediate need for, and expect to make immediate use of, substantially all of the
equipment, which need is not temporary or expected to diminish in the foreseeable future. The equipment will be used by us only for
the purpose of performing one or more of our governmental or proprietary functions consistent with the permissible scope of our
authority. Specifically, the equipment was selected by us to be used as follows:
IN WITNESS WHEREOF, I have duly executed this certificate and affixed the seal hereto this day of ,2002.
(Seal)
Lessee: City of Canton
sy:
(Signature of Secretary/Clerk)
(Printed Name)
PLEASE SICK
& DAT'
~Ir ,, ~ , , , aq,
forfis\M-05.E