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228. RESOLUTION 2001- 10 R A RESOLUTION OF THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS, AUTHORIZING THE EXECUTION AND DELNERY OF A LEASE-PURCHASE AGREEMENT AND RELATED INSTRUMENTS BETWEEN THE CITY AND BANC ONE LEASING CORPORATION TO PROVIDE FUNDING FOR THE PURCHASE OF POLICE DEPARTMENT VEHICLES; DETERMINING OTHER MATTERS IN CONNECTION THEREWITH; AND DECLARING AN EFFECTIVE DATE. RECITALS: 1. The City Council of the City of San Marcos (the "City") has determined that a need exists for the Police Department vehicles (the "Property") described in the attached Master Lease-Purchase Agreement and related documents (the "Agreement") with Banc One Leasing Corporation (the "Bank") presented at this City Council meeting. 2. The City has taken the necessary steps, including those relating to any applicable legal procurement requirements, to arrange for the acquisition of the Property. 3. The City proposes to enter into the Agreement with the Bank substantially in the form attached to this resolution. BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF SAN MARCOS, TEXAS: P ART 1. It is hereby found and determined that the terms of the Agreement in the form presented to this meeting and attached to this resolution are in the best interests of the City for the acquisition of the Property. PART 2. The Agreement is approved, and the City Manager is authorized to execute, acknowledge and deliver the Agreement with any changes, insertions and omissions therein as may be approved by the City Manager, such approval to be conclusively evidenced by such execution and delivery of the Agreement, and the City Clerk is authorized to affix the official seal of the City and attest to the Agreement. PART 3. The proper officers ofthe City are authorized and directed to execute and deliver any and all papers, instruments, opinions, certificates, affidavits and other documents and to do or cause to be done any and all other acts and things necessary or proper for carrying out this resolution and the Agreement. PART 4. The City's obligations under the Agreement shall be subject to annual appropriation by the City Council, and shall not constitute a general obligation of the City or an indebtedness under the laws of the State of Texas. PART 5. The City hereby designates the Agreement as a "qualified tax-exempt obligation" within the meaning of Section 265(b)(3) ofthe Internal Revenue Code of 1986, as amended. The face amount of all tax- exempt obligations to be issued by the City during calendar year 2000 is not reasonably anticipated to exceed $10,000,000. PART 6. The City Council anticipates that the City may pay certain capital costs in connection with the Property prior to the receipt of the Lease-Purchase proceeds. The City Council declares the City's official