HomeMy WebLinkAbout2011-03-03-R RESOLUTION # 07011-03-03
A RESOLUTION REGARDING A FINANCE CONTRACT FOR THE PURPOSE OF
PROCURING "Golf Carts':
WHEREAS, contingent upon the approval of the Attorney of City of Batesville (the "Issuer"),
the Issuer desires to enter into that certain Finance Contract, by and between the Issuer
and Government Capital Corporation ("GCC") for the purpose of financing "Golf Carts". The
Issuer desires to designate this Finance Contract as a "qualified tax exempt obligation" of
the Issuer for the purposes of Section 265 (b) (3) of the Internal Revenue Code of 1986, as
amended.
NOW THEREFORE, BE IT RESOLVED BY CITY OF BATESVILLE:
Section 1. That the Issuer will enter into a Finance Contract with GCC for the
purpose of financing "Golf Carts".
Section 2. That the Finance Contract dated as of March 22, 2011, by and
between the City of Batesville and GCC is designated by the Issuer as a "qualified tax
exempt obligation" for the purposes of Section 265 (b) (3) of the Internal Revenue Code of
1986, as amended.
Section 3. That the Issuer will designate Rick Elumbaugh, Mayor as an authorized signer
of the Finance Contract dated as of March 22, 2011, by and between the City of Batesville
and GCC.
PASSED AND APPROVED by the Board of the City of Batesville in a meeting held on the
day of , 2011.
ISSUER: City of Batesville Witness Signature
L e er?,,
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Rick Elumbaugh, Mayor Denise Johnson, City Clerk