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HomeMy WebLinkAbout2018-0116A Resolution for Lease Purchase Agreement to Finance Sewer TruckRESOLUTION NO. 2018-0116A A RESOLUTION OF TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1 REGARDING A LEASE PURCHASE AGREEMENT FOR THE PURPOSE OF FINANCING A SEWER TRUCK. WHEREAS, Trophy Club Municipal Utility District No. 1 (the "District") desires to enter into that certain Lease -Purchase Agreement No. 8076, by and between Trophy Club Municipal Utility District No. 1 and Government Capital Corporation, for the purpose of financing a Sewer Truck". The District Desires to designate this agreement as a qualified tax exempt obligation of the District for the purposes of Section 265(b) (3) of the Internal Revenue Code of 1986, as amended. The District desires to designate John Carman, General Manager as an authorized signor of the Agreement. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF DIRECTORS OF TROPHY CLUB MUNICIPAL UTILITY DISTRICT NO. 1: Section 1. That the District enters into a Lease Purchase Agreement with Government Capital Corporation for the purpose of financing a sewer truck. Section 2. That the Lease Purchase Agreement dated as of February 1, 2018 by and between Trophy Club Municipal Utility District No. 1 and Government Capital Corporation is designated by the District 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 District designates John Carman, General Manager, as an authorized signor of the Lease -Purchase Agreement No. 8076 by and between Trophy Club Municipal Utility District No. 1 and Government Capital Corporation. RESOLVED, PASSED AND APPROVED by the Board of Directors of Trophy Club Municipal Utility District No. I on the 16`h day of January, 2018. Lessee: Trophy Club Municipal Utility District No. Witness Si natur V Kevin R. Carr, Board President ii William C. Ros, "tecretary/Treasurer dy L i au ie Slaght, District Secr ry t'i -� •' Erik/� �a`�J '•,iti j 0 (SEAL J 0 . ? ' fib•.