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• RESOLUTION o1019�;- V-3'K <br /> LEASE-PURCHASE NO.001-0606565-301 <br /> DATED AS OF MARCH 8,2012 <br /> A resolution authorizing the negotiation, execution, and delivery of Lease-Purchase <br /> Agreement No. 001-0606565-301 dated March 8,2012 (the"Lease"), in the principal count <br /> of$214,047.15,between City of Batesville, 500 E. Main Street,Batesville,Arkansas 72501 <br /> and TCF Equipment Finance,Inc., 11100 Wayzata Boulevard Suite#801 Minnetonka, <br /> Minnesota 55305; providing 25 Monthly lease payments of 24 @$3,431.13 followed by 1 @ <br /> $144,482.00 each from legally available funds; and prescribing other details in connection <br /> therewith. <br /> WHEREAS,City of Batesville, (the"Lessee") is a Municipalities duly organized and existing <br /> pursuant to the Constitution and laws of the State of Arkansas Iand <br /> WHEREAS,Lessee is duly authorized by applicable law4o acquire such items of personal <br /> property as are needed to carry out its governmental functions and to acquire such personal <br /> property by entering into lease-purchase agreements, and <br /> WHEREAS, Lessee hereby finds and determines that the execution of a Lease for the purpose of <br /> leasing with the option to purchase the property designated and set forth in Exhibit A to the <br /> Lease is appropriate and necessary to the function and operations of the Lessee; and <br /> • WHEREAS, TCF Equipment Finance, Inc., Minnetonka, Minnesota(the"Lessor"), duly <br /> organized, existing, and in good standing under the laws of the State of Minnesota, shall act as <br /> Lessor under said Lease; and <br /> WHEREAS, the Lease shall not constitute a general obligation indebtedness of the Lessee <br /> within the meaning of the Constitution and laws of the State; <br /> NOW,THEREFORE,BE IT RESOLVED BY THE CITY COUNCIL OF BATESVILLE <br /> ARKANSAS: <br /> Section 1. The Mayor and City Clerk acting on behalf of Lessee, are hereby authorized to <br /> negotiate, enter into, execute, and deliver the Lease and related documents in substantially the <br /> form as presently before the Batesville City Council,which Lease is available for public <br /> inspection at the offices of Lessee. <br /> Section 2. The Lease shall be in the principal amount of$214,047.15 bearing interest as set <br /> forth in Exhibit C of the Lease; said Lease to contain an option to purchase by the Lessee as <br /> therein set forth. <br /> Section 3. The Lessee's obligations under the Lease shall be expressly subject to annual <br /> appropriation by Lessee; and such obligations under the Lease shall not constitute a general <br /> Oobligation of Lessee or indebtedness of Lessee within the meaning of the Constitution and laws <br />