Agenda - 06-19-2012 - 5j - Laserfiche WebLink

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declares the Lessee's official intent to use the Lease Purchase Proceeds to reimburse itself for Property expenditures. This section of the Resolution is adopted by the Governing Body of Lessee for the purpose of establishing compliance with the requirements of Section 1.150 -2 of Treasury Regulations. This section of the Resolution does not bind the Lessee to make any expenditure, incur any indebtedness, or proceed with the purchase of the Property. SECTION 6. As to each Equipment Lease, Lessee hereby designates each Equipment Lease as a "qualified tax- exempt obligation" for the purposes of and within the meaning of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended ( "Code ") and Lessee reasonably anticipates that the total amount of Section 265 Tax - Exempt Obligations to be issued during the current calendar year by Lessee, or by an entity controlled by Lessee or by another entity the proceeds of which are loaned to or allocated to Lessee for purposes of Section 265(b) of the Code will not exceed $10,000,000. "Section 265 Tax- Exempt Obligations" are obligations the interest on which is excludable from gross income of the owners thereof under Section 103 of the Code, except for private activity bonds other than qualified 501(c)(3) bonds, both as defined in Section 141 of the Code. SECTION 7. This Resolution shall take effect immediately upon its adoption and approval. ADOPTED AND APPROVED on this 120_ The undersigned Secretary/Clerk of the above -named Lessee hereby certifies and attests that the undersigned has access to the official records of the Governing Body of the Lessee, that the foregoing resolutions were duly adopted by said Governing Body of the Lessee at a meeting of said Governing Body and that such resolutions have not been amended or altered and are in full force and effect on the date stated below. Signature of Secretary/Clerk of Lessee Print Name: Official Title: Date: Page 2 of 2 W