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RESOLUTION NO. gqlq-% <br />A RESOLUTION OF THE COMMON COUNCIL OF THE CITY OF <br />SOUTH BEND, INDIANA CONCERNING THE ACQUISITION BY LEASE <br />OF CERTAIN EQUIPMENT ESSENTIAL TO THE OPERATIONS <br />OF THE CITY <br />Whereas, the Common Council of the City of South Bend, <br />Indiana, has determined that a true and very real need exists for <br />the acquisition of the Equipment described in the Master Equipment <br />Lease ( "Lease Agreement ") between lst Source Bank ( "Lessor "), and <br />the City of South Bend, Indiana ( "Lessee ") presented to the Common <br />Council at the meeting of the Common Council on the date noted <br />hereinbelow; and <br />Whereas, the Common Council of the City of South Bend, Indiana <br />has determined that the Board of Public Works of the City of South <br />Bend, Indiana has taken the necessary legal steps, including <br />satisfaction of any legal bidding requirements, under Indiana law <br />to arrange for the acquisition of the Equipment. <br />NOW, THEREFORE, BE IT RESOLVED BY THE COMMON COUNCIL OF THE <br />CITY OF SOUTH BEND, INDIANA as follows: <br />1. That the terms of said Lease Agreement are in the best <br />interests of the City of South Bend, Indiana for the acquisition of <br />such Equipment, and the Common Council of the City of South Bend, <br />Indiana designates and confirms the following persons to execute <br />and deliver, and to witness the execution and delivery, <br />respectively, the Lease Agreement and any related documents <br />necessary to the consummation of the transactions contemplated by <br />the Lease Agreement. <br />Party to Execute Lease Agreement: Party to Attest to the <br />Execution of Lease: <br />John E. Leszczynski, President Angela K. Jacob, Clerk <br />Board of Public Works Board of Public Works <br />2. That the Common Council of the City of South Bend hereby <br />represents that the reasonably anticipated amount of qualified tax - <br />exempt obligations which have been and will be issued by the City <br />of South Bend, Indiana does not exceed $10,000,000 for the calendar <br />year within which this Lease Agreement is to be a "tax exempt <br />obligation" pursuant to Section 265(b)(3) of the Internal Revenue <br />Code. <br />3. This Resolution shall be in full force and effect from and <br />after its adoption by the Common Council and approval by the Mayor. <br />Member, Common Council <br />PRESENTED <br />NOT APPROVED <br />ADOPTED <br />Filed In Clerk's Office <br />OCT - 8 1996 <br />LQRE7Tk.t': tNALyS, <br />CITY CLERK. $C. SEN06 K <br />