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V <br /> • <br /> Lessee) in respect of property or borrowed money used or to be used for a trade or business <br /> carried on by any person other than a governmental unit. <br /> Section 5.No portion of the gross proceeds of the Agreement are used(directly or indirectly) <br /> to make or finance loans to persons other than governmental units. <br /> Section 6. Lessee hereby designates the Agreement as a qualified tax-exempt obligation for <br /> purposes of Section 265(b) of the Code. <br /> Section 7. In calendar year C�W7_, Lessee has designated <br /> $ L101.9 q IyJ of tax-exempt obligations (including the Agreement) as <br /> qualified tax-exempt obligations. Including the Agreement herein so designated, Lessee will not <br /> designate more than $30,000,000 of obligations issued during calendar year A-itfi as <br /> qualified tax-exempt obligations. <br /> Section 8. Lessee reasonably anticipates that the total amount of tax-exempt obligations <br /> (other than private activity bonds) to be issued by Lessee during calendar year _will <br /> not exceed$30,000,000. <br /> Section 9. For purposes of this resolution, the amount of Tax-exempt obligations stated as <br /> either issued or designated as qualified tax-exempt obligations includes tax-exempt obligations <br /> issued by all entities deriving their issuing authority from Lessee or by an entity subject to <br /> substantial control by Lessee, as provided in Section 265(b)(3)(E)of the Code. <br /> Section 10. The assessed value of taxable property located within the municipality or county <br /> • is$ ��]��q$���sVJ as determined by the last completed tax assessment. <br /> Section 11. The aggregate principal amount of short-term financing obligations incurred by <br /> Lessee, including the obligations under the Agreement, does not exceed five percent (5%), if <br /> Lessee is a municipality, or two and one-half percent (2A%i%), if Lessee is a county, of the <br /> assessed value of taxable property located within the municipality or county, as determined by <br /> the last completed tax assessment. <br /> Section 12. The Authorized Officer is further authorized for and on behalf of the Governing <br /> Body and the Lessee to do all things necessary in furtherance of the obligations of the Lessee <br /> pursuant to the Agreement, including execution and delivery of all other documents necessary or <br /> appropriate to carry out the transactions contemplated thereby in accordance with the terms and <br /> provisions thereof. <br /> • <br />