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RESOLUTION # 07011-03-03 <br /> A RESOLUTION REGARDING A FINANCE CONTRACT FOR THE PURPOSE OF <br /> PROCURING "Golf Carts': <br /> WHEREAS, contingent upon the approval of the Attorney of City of Batesville (the "Issuer"), <br /> the Issuer desires to enter into that certain Finance Contract, by and between the Issuer <br /> and Government Capital Corporation ("GCC") for the purpose of financing "Golf Carts". The <br /> Issuer desires to designate this Finance Contract as a "qualified tax exempt obligation" of <br /> the Issuer for the purposes of Section 265 (b) (3) of the Internal Revenue Code of 1986, as <br /> amended. <br /> NOW THEREFORE, BE IT RESOLVED BY CITY OF BATESVILLE: <br /> Section 1. That the Issuer will enter into a Finance Contract with GCC for the <br /> purpose of financing "Golf Carts". <br /> Section 2. That the Finance Contract dated as of March 22, 2011, by and <br /> between the City of Batesville and GCC is designated by the Issuer as a "qualified tax <br /> exempt obligation" for the purposes of Section 265 (b) (3) of the Internal Revenue Code of <br /> 1986, as amended. <br /> Section 3. That the Issuer will designate Rick Elumbaugh, Mayor as an authorized signer <br /> of the Finance Contract dated as of March 22, 2011, by and between the City of Batesville <br /> and GCC. <br /> PASSED AND APPROVED by the Board of the City of Batesville in a meeting held on the <br /> day of , 2011. <br /> ISSUER: City of Batesville Witness Signature <br /> L e er?,, <br /> 1 <br /> Rick Elumbaugh, Mayor Denise Johnson, City Clerk <br />