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• <br /> RESOLUTION #2012-01-04-R <br /> LEASE-PURCHASE NO. 001-0606565-300 <br /> DATED AS OF January 18, 2012 <br /> A resolution authorizing the negotiation, execution, and delivery of Lease- <br /> Purchase Agreement No. 001-0606565-300 dated January 18, 2012 (the <br /> "Lease"), in the principal amount of $248,006.00, between City of Batesville, <br /> 500 E. Main Street, Batesville, AR 72501 and TCF Equipment Finance, Inc., <br /> 11100 Wayzata Blvd Suite #801 Minnetonka, Minnesota 55305; providing 24 <br /> Monthly lease payments of $4,226.30 and Monthly lease payment of <br /> $161,204.00 each from legally available funds; and prescribing other details in <br /> connection therewith. <br /> WHEREAS, City of Batesville, (the "Lessee") is a Municipalities duly <br /> organized and existing pursuant to the Constitution and laws of the State of <br /> Arkansas and <br /> WHEREAS, Lessee is duly authorized by applicable law to acquire such items of <br /> personal property as are needed to carry out its governmental functions and to <br /> acquire such personal property by entering into lease-purchase agreements, <br /> and <br /> WHEREAS, Lessee hereby finds and determines that the execution of a Lease <br /> for the purpose of leasing with the option to purchase the property designated and <br /> set forth in Exhibit A to the Lease is appropriate and necessary to the function and <br /> operations of the Lessee; and <br /> WHEREAS, TCF Equipment Finance, Inc., Minnetonka, Minnesota (the "Lessor"), <br /> duly organized, existing, and in good standing under the laws of the State of <br /> Minnesota, shall act as Lessor under said Lease; and <br /> WHEREAS, the Lease shall not constitute a general obligation indebtedness of <br /> the Lessee within the meaning of the Constitution and laws of the State; <br /> NOW, THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF <br /> THE CITY OF BATESVILLE, ARKANSAS <br /> Section 1. The Mayor or the City Clerk acting on behalf of Lessee, are hereby <br /> authorized to negotiate, enter into, execute, and deliver the Lease and related <br /> documents in substantially the form as presently before the City Council, <br /> which Lease is available for public inspection at the offices of Lessee. <br /> Section 2. The Lease shall be in the principal amount of $248,006.00 bearing <br />