HomeMy WebLinkAboutRes 2002-19 Pumper TruckWHEREAS, contingent upon the approval of the Attorney of City of Anna (the "Lessee"), the City desires to enter into that certain
Lease -Purchase Agreement dated as of June 18, 2002, by and between City of Anna, Lessee and Government Capital Corporation,
Lessor, for the purpose of financing Ferrara Class "A" Pumper (Fire Truck). The City desires to designate this Agreement as a
"qualified tax exempt obligation" of the City for the purposes of Section 265 (b) (3) of the Internal Revenue Code of 1986, as
amended. The City desires to levy, for each year in which "Lease Payments" (as defined in the Lease -Purchase Agreement) come
due, an ad valorem tax within the limits prescribed by law that is sufficient (together with other funds lawfully available to the City
and applied to the purpose) to provide timely payment of the Lease Payments payable during such year. The City desires to
designate Ronald R. Ferguson, Mayor, as an authorized signer of the Agreement.
NOW THEREFORE, BE IT RESOLVED BY THE CITY OF ANNA:
Section 1. That the City will enter into aLease-Purchase Agreement with Government Capital Corporation for the
purpose of financing Ferrara Class "A" Pumper (Fire Truck).
Section 2. That the Lease -Purchase Agreement dated as of June 18, 2002, by and between the City of Anna and
Government Capital Corporation is designated by the City as a "qualified tax exempt obligation" for the purposes of Section 265
(b) (3) of the Internal Revenue Code of 1986, as amended.
Section 3. That for each year in which Lease Payments come due, there is hereby levied an ad valorem tax within
the limits prescribed by law that is sufficient (together with other funds lawfully available to the City and applied to the purpose)
to provide timely payment of the Lease Payments payable during such year.
Section 4. That the City will designate Ronald R. Ferguson, Mayor, as an authorized signer of the Lease -Purchase
Agreement dated as of June 18, 2002, by and between the City and Government Capital Corporation.
PASSED ��PPROVED by the Board of the City of Anna in a meeting
of X J `� , 2002. p
Ronald R. Ferguson
Mayor
on the _day
Marion Howard
City Secretary
PUBLIC PROPERTY FINANCE ACT CONTRACT
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