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<br />74 <br /> <br />RESOLUTION 1992- 33 R <br /> <br />A RESOLUTION OF THE CITY COUNCIL OF THE CITY <br />OF SAN MARCOS, TEXAS, APPROVING THE TERMS AND <br />CONDITIONS OF AN AGREEMENT BETWEEN THE CITY <br />AND ALLIANCE CREDIT CORPORATION FOR LEASE- <br />PURCHASE FINANCING OF COMPUTER HARDWARE AND <br />SOFTWARE TO BE PURCHASED FROM INTERGRAPH <br />CORPORATION; AUTHORIZING THE CITY MANAGER TO <br />EXECUTE THE LGREEMENT ON BEHALF OF THE CITY; <br />AND DECLARING AN EFFECTIVE DATE. <br /> <br />WHEREAS, the City desires to finance its purchase of computer <br />hardware and software from Intergraph Corporation through a Lease <br />with Option to Purchase Agreement with Alliance Credit Corporation <br />of Austin, Texas; now, therefore, <br /> <br />BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, <br />TEXAS: <br /> <br />PART 1. That the terms and conditions of the Lease with <br />Option to Purchase Agreement attached to this Resolution between <br />the City and Alliance Credit Corporation for financing of the <br />purchase of computer hardware and software from Intergraph <br />Corporation are hereby approved. <br /> <br />PART 2. That the City Manager, Larry D. Gilley is hereby <br />authorized to execute this Agreement, together with all related <br />documents, on behalf of the city. <br /> <br />PART 3. Desiqnation as qual.ified Tax-Exempt Obliqation. <br />Pursuant to section 265(b) (3) (B) (ii) of the Internal Revenue Code <br />of 1986 (the Code), the Issuer hereby specifically designates the <br />Lease as a "qualified tax-exempt obligation" for purposes of <br />Section 265 (b) (3) of the Code. In compliance with section <br />265(b) (3) (D) of the Code, the Issuer hereby represents that the <br />Issuer will not designate more than $10,000,000 of obligations <br />issued by the Issuer in the calendar year during which the Lease is <br />executed and delivered as such "qualified tax-exempt obligations". <br /> <br />PART 4. Issuance Limitation. In compliance with the <br />requirements of Section 265(b) (3) (C) of the Code, the Issuer hereby <br />represents that the Issuer (including all "subordinate entit'ies" of <br />the Issuer within the meaning of section 265(b) (3) (E) of the Code) <br />reasonably anticipates not to issue in the calendar year during <br />which the Lease is executed and delivered, obligations bearing <br />interest exempt from federal income taxation under Section 103 of <br />the Code (other than "private activity bonds" as defined in section <br />141 cf the Code) in an amount greater than $10,000,000. Attached <br />hereto as Schedule A is a list of all such obligations issued by <br />Issuer (including any "subordinate entity") during such calend<::r <br />year. <br /> <br />PART 5. That this Resolution shall be in full force and <br />effect immediately from and after its passage. <br /> <br />ADOPTED this23rd day <br /> <br /> <br />, 1992. . <br /> <br />M. M OO.~ <br /> <br />Atte,.S~"t; ~ ,,',"'~ ," <br />f1 0x,/ <br />/llYU" , r:;; JIM <br />;;f;ts K. Wom el<' <br />City Secretary <br />