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RESOLUTION NO. 050 1 —GL770 Ll<� <br /> • <br /> Date of Agreement April 16, 2009 <br /> A RESOLUTION AUTHORIZING AND APPROVING THE EXTENSION OF AN <br /> EQUIPMENT LEASE-PURCHASE AGREEMENT WITH 1ST SOURCE BANK <br /> FOR THE PURPOSE OF LEASE-PURCHASING CERTAIN EQUIPMENT <br /> WHEREAS the City of Batesville has determined that a true and very real need <br /> exists for the extension of the Equipment described in the Lease Agreement and <br /> Lease Supplement 2 with 1St Source Bank presented to this meeting; and <br /> WHEREAS the City of Batesville has taken the necessary steps under applicable <br /> law to arrange for the extension of such Equipment. <br /> NOW THEREFORE BE IT RESOLVED, by the City Council of the City of <br /> Batesville, Arkansas that the terms of said Lease Agreement are in the best <br /> interests of the City of Batesville for the extension of such Equipment, and the <br /> City of Batesville designates and confirms the Mayor and City Clerk to execute <br /> and deliver, and to attest respectively, the Lease Agreement and any related <br /> documents necessary to the consummation of the transactions contemplated by <br /> the Lease Agreement. <br /> FURTHERMORE BE IT RESOLVED, that the City Council of the City of <br /> Batesville, Arkansas hereby represents that the reasonable anticipated amount <br /> of qualified tax-exempt obligations which have been and will be issued by the <br /> City of Batesville does not exceed $10,000,000.00 for the calendar year within <br /> which this Lease Agreement is to be "qualified tax-exempt obligation" pursuant to <br /> Section 265 (b) (3) of the Internal Revenue Code. <br /> Adopted this 9th day of August, 2011 <br /> Rick Elumbeugh, Nfayor <br /> Attest: <br /> Denise M. Johnston, C y Clerk <br /> I <br />