HomeMy WebLinkAboutRESOLUTION NO 07-02-07RESOLUTION NO. 07-02-07
SCHEDULE F
RESOLUTION FOR SUPPLEMENTAL, LEASES
A RESOLUTION TO AUTHORIZE AND
DIRECT AN OFFICER OF THE CITY
TO EXECUTE ONE OR MORE LEASE SUPPLEMENTS FOR A LEASE
OR LEASES UNDER THE GMA DIRECT LEASING PROGRAM; TO DESIGNATE
SUCH LEASES AS QUALIFIED TAX-EXEMPT OBLIGATIONS;
TO PROVIDE AN EFFECTIVE DATE; AND FOR OTHER PURPOSES.
WHEREAS, the City has entered into a Master Lease (the "Master Lease") dated as of
with Georgia Municipal Association, Inc. for the leasing from time to time of certain equipment, machinery or other
personal property pursuant to Supplemental Leases;
NOW THEREFORE, BE IT RESOLVED AS FOLLOWS BY THE GOVERNING BODY OF THE CITY:
1. The City Manager of the City is hereby authorized and directed to execute and deliver a Lease
Supplement pursuant to the Master Lease to put into effect one or more leases for Various Public
Safety & Office Equip ent (the "Leased Property"); said officer of the City is authorized and
directed in the name and on behalf of the City to execute and deliver (i) one or more Lease
Supplements for items of the Leased Property in substantially the form attached to the Master
Lease, with such changes and additions as may be approved by said officer, and (ii) such other
documents as may be deemed by such officer to be necessary or desirable to effect the purposes
hereof or of the Master Lease, and such execution shall constitute conclusive evidence that the
executed document has been authorized and approved hereby; the aforesaid officer is further
authorized to do all things necessary or appropriate to effectuate the purposes hereof.
2. ❑ An appropriation in the City's current operating budget has previously been made in the amount of
$710,987.13, which shall be sufficient to pay the "Rentals" and the "Termination Payment" during
the "Starting Term" under such Lease Supplements; or
(check box if applicable)
An appropriation from unappropriated and unreserved funds in the City's current operating budget
is hereby made in the amount of $710,987.13 for the "Rentals" and the "Termination Payment"
during the "Starting Term" under such Lease Supplements, and the budget of the City is hereby
amended to reflect such appropriation to the extent necessary.
3. The lease or leases contemplated by the said Lease Supplements are hereby designated "Qualified
Tax -Exempt Obligations" within the meaning of Section 265(b)(3) of the Internal Revenue Code
of 1986, as amended, and said officer shall be authorized to confirm such designation by execution
of appropriate documents in connection therewith.
4. This authorization shall be effective immediately.
CLERK'S CERTIFICATE
The undersigned hereby certifies that he or she is the Clerk of the City of Milton, Georgia (the "City"), and that the
foregoing is a true copy of the ❑ Resolution or, ❑ Ordinance [Check One] adopted by the governing body of the
City at a meeting duly held on February 1, 2007, at which a quorum was present and acting throughout, and that the
same has not been rescinded or modified and is now is in full force and effect. Given under the seal of the City, this
I" day of Febru4a 2007.
(SEAL)
689721
City Clerk