HomeMy WebLinkAbout01-202RESOLUTION NO. 01- o~Oa'l
A RESOLUTION OF THE BOARD OF COUNTY COMMISS
LUCIE COUNTY, FLORIDA, AUTHORIZING THE EX/
DELIVERY OF (1) A MASTER LEASE AGREEMENT WI
LEASING CORPORATION, (2) AN EQUIPMENT SCHEDULI:
ESCROW AGREEMENT, AND (4) OTHER RELATED INST
THE LEASE PURCHASE OF CERTAIN COMPUTER EQUIP]~
BY THE COUNTY; PROVIDNG FOR THE MAKING OF PAY~
THE EQUIPMENT LEASE FROM NON-AD VALOREi
ANNUALLY BUDGETED AND APPROPRIATED
AUTHORIZING FURTHER OFFICIAL ACTION IN CONNECt[
DELIVERY OF THE FOREGOING DOCUMENTS; AND P
EFFECTIVE DATE.
Whereas, the Board of County Commnssloners (the Board ) of
(the" " ' ' ' ' ,,
Lessee ), desn'es to obtain certain computer eqmpment (the E~
Equipment Schedule No. 01 to the Master Lease Agreement (collecti
SunTrust Leasing Corporation (the "Lessor"), the form of which is on file
and
Whereas, the Equipment is essential for the Lessee to perform its
Whereas, the funds made available under the Lease will be depos
(the "Escrow Agent") pursuant to an Escrow Agreement between Lessee ar
"Escrow Agreement'') and will be applied to the acquisition of the Equip~
the Escrow Agreement; and
Whereas, Lessee has taken the necessary steps, including those r(
legal bidding requirements, to arrange for the acquisition of the Equipment;
Whereas, Lessee proposes to enter into the Lease with the
lONERS OF ST.
~CUTION AND
rH SUNTRUST
, NO. 01, (3) AN
~.UMENTS FOR
~IENT FOR USE
dENTS UNDER
¢I REVENUES
THEREFOR;
ION WITH THE
[~OVIDING AN
t. Lucie County, Florida
luipment") described in
~ely, the "Lease") with
4th the Lessee; and
governmental functions;
.ted with SunTrust Bank
.d the Escrow Agent (the
nent in accordance with
.,lating to any applicable
and
~essor and the Escrow
Agreement with the Escrow Agent substantially in the forms on file with ~ ~Lessee; and
!
Whereas, the Lessee does not expect to issue or incur $10,000,00p or more in obligations
the interest on which is excluded fi:om gross income under Section 103 bf the Internal Revenue
Code of 1986, as amended fi:om time to time (the "Code"), and ret uired to be taken into
consideration for purposes of Section 265(b) of the Code; now therefore:
BE IT RESOLVED BY THE BOARD OF COUNTY COMMISS1 3NERS OF ST. LUCIE
COUNTY, FLORIDA:
Section 1. Authority for this Resolution. This resolution is ~.dopted pursuant to the
provisions of Chapter 125, Part I, Florida Statutes, as amended, and other ~pplicable provisions of
law (collectively, the "Act").
Section 2. Approval of Financing Documents. The Lease an
(collectively, the "Financing Documents") in substantially the forms on ff
reference hereby incorporated in this resolution are hereby approved
acquisition of the Equipment.
Section 3. Execution of Financing Documents. The Financ
acquisition and financing of the Equipment under the terms and condil
Financing Documents are hereby approved. The Chairman, Vice Chairm
of Lessee who shall have power to execute contracts on behalf of Less.
hereby is, authorized to execute, acknowledge and deliver the Financing D
the form on file with the Lessee, with any changes, insertions and omL,
approved by the Officers who execute the Financing Documents, such apl
evidenced by such execution and delivery of the Financing Documents. TI
any other officer of Lessee who shall have power to do so be, and each ofl
to affix the official seal of Lessee to the Financing Documents and attest th
Section 4. Authorization of Execution of Other Documents.
Lessee be, and each of them hereby is, authorized and directed to execut{
papers, instruments, opinions, certificates, affidavits and other documents
done any and all other acts and things necessary or proper for carrying
Financing Documents.
Section 5. Tax Compliance. The Lessee covenants throughout
Lease, to comply with the requirements of the Code. The Equipment Lease
"qualified tax-exempt obligation" within the meaning of Section 265(b)(i
Lessee will take all actions necessary to maintain the exclusion from gros~
the Code of the interest component of the payments under the Lease anC
under Section 265(b)(3)(B) of the Code to the same extent as on the date of
Section 6. Repeal of Inconsistent Provisions. All resolutions or
with this resolution are hereby repealed to the extent of such conflict.
Section 7. Severability. If any one or more of the covenants, agr¢
this resolution should be held contrary to any express provision of law or
express law, though not expressly prohibited, or against public policy,
whatsoever be held invalid, then such covenants, agreements, or provision
and shall be deemed separate from the remaining covenants, agreements
way affect the validity of all other provisions of this resolution or of th
delivered hereunder.
Section 8. Amendment. This resolution may not be amended or
prior written consent of Lessor.
Section 9. Effective Date. This resolution shall take effect immedi
the Escrow Agreement
with the Lessee and by
in connection with the
ing Documents and the
ions as described in the
an, and any other officer
:e be, and each of them
)cuments in substantially
sions therein as may be
~roval to be conclusively
.e Clerk of the Board and
~em hereby is authorized
same.
The proper officers of
and deliver any and all
md to do or cause to be
~ut this resolution in the
e term of the Equipment
is hereby designated as a
I)(B) of the Code. The
income for purposes of
the status of the Lease
he Lease.
parts thereof in conflict
ements, or provisions of
:ontrary to the policy of
or shall for any reason
shall be null and void
)r provisions, and in no
Financing Documents
,'pealed except with the
~tely upon its adoption.
2
7662¥1/28902-00104/R- AUTH LEASE
Passed and Adopted this 1 lth day of September, 2001, at a regula~
held.
meeting duly called and
~ Commissioners
Cl~k o~h~Ckc~t Co~x~cio
Clerk of~e Bo~d
ST. LUCIE COUNT ~, FLORIDA
~hairmah_~~/~l~e- Board of'
County
APPROVED AS
CORRECTNESS:
County Atto
TO FORM AND
3
7662vl/28902-00104/P.- AUTH LEASE