Resolution 04-003 - Laserfiche WebLink

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general taxing powers, (2) the Lease not is a private activity bond, (3) ninety-five percent (95%) or more of the net proceeds of the Lease is to be used for local governmental activities of the City(or of a governmental unit the jurisdiction of which is entirely within the jurisdiction of the City), and (4) the aggregate face amount of all tax exempt bonds (other than private activity bonds) issued by the City (and all subordinate entities thereof, and all entities treated as one issuer with the City) during the calendar year in which the Lease is issued and outstanding at one time is not reasonably expected to exceed $5,000,000, all within the meaning of Section 148(f)(4)(D) of the Code. For purposes of qualifying for the exception to the federal arbitrage rebate requirements for governmental units issuing $5,000,000 or less of bonds, the Lessee hereby finds, determines and declares that (1)the Lease is entered into by a governmental unit with general taxing powers, (2) the Lease is not a private activity bond, (3) ninety- five percent (95%) or more of the net proceeds of the Lease are to be used for local governmental activities of the Lessee (or of a governmental unit the jurisdiction of which is entirely within the jurisdiction of the Lessee), and (4) the aggregate face amount of all tax-exempt bonds (other than private activity bonds) issued by the Lessee (and all subordinate entities thereof, and all entities treated as one issuer with the Lessee) during the calendar year in which the Lease is entered into at one time is not reasonably expected to exceed $5,000,000, all within the meaning of Section 148(f)(4)(D) of the Code. ADOPTED this 19th day of February, 2004. Mayor ATTEST: City Clerk Motion by: Council Member J. Akerson Seconded by: Council Member D. Sjoblad Voted in favor:Mayor C. Malecha, Council Members Akerson, Sjoblad, Pfeiffer, Johnson, Bolz-Andolshek Voted against: None