1997-02 Finance EquipmentRESOLUTION NO. 97-2
• RESOLUTION TO FINANCE EQUIPMENT
Certified Copy of Resolutions and Certificate Pursuant Thereto
Name of City: City of Okeechobee
Address: 55 S.E. Third Avenue, Okeechobee, FL 34974
Chartered Under the law of the State of Florida
I, the undersigned, hereby certify that I am the Clerk of the above named City
(hereinafter called "this City"); that the following is a true copy of resolutions duly
adopted by the City Council of this City at a meeting duly held on the 18th day of
February, 1997, at which a quorum was present and acting throughout, that such
resolutions have not been rescinded or modified and are now of full force and effect;
and that the Clerk will serve as Registrar for the Note described herein.
RESOLVED, that this City will issue its $250,000 Municipal Promissory Note,
dated on or about February 24, 1997 (the "Notes") to purchase one (1) fire truck and
allied equipment in February 1997 with Big Lake National Bank (hereinafter called
"financier") and that this City pay the Financier pursuant to the terms of such note in
substantially the form attached; and that James E. Kirk be and hereby is authorized and
directed in the name and on behalf of this City to execute a Note with Financier in
substantially the forms presented to this meeting with such changes therein and
additions thereto as shall be approved by the officer who executes the same, with such
execution to be conclusive evidence that each such document so executed has been
authorized and approved by this vote.
FURTHER RESOLVED, the City shall budget and appropriate in each year
amounts due on the Note from all legally available non -Ad Valorem revenues, and the
Note shall be secured solely by such covenant and appropriations; and
FURTHER RESOLVED, the City finds the negotiated sale of the Note to the
Financier is in the best interest of the City, as evidenced by the attached Negotiated
Sale Disclosure & Truth in Bonding Statement; and
FURTHER RESOLVED, that the Note be designated "Qualified Tax -Exempt
Obligations" within the meaning of S 265 (b) of the Internal Revenue Code of 1986, and
the City reasonably expects no more than $10,000,000 of tax-exempt obligations will be
issued in 1997; and
FURTHER RESOLVED, that the Mayor of this City be and each of them hereby
is authorized to execute and deliver such other instruments and take such other actions
as he shall deem necessary and desirable for the purpose of carrying out the foregoing
votes; and
FURTHER RESOLVED, that the foregoing resolutions shall remain in full force
and effect until written notice of their amendment or rescission shall have been
received by Financier and that receipt of such notice shall not affect any action taken
by Financier prior thereto; and
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FURTHER RESOLVED, that the Clerk of this City be and (s)he hereby is
authorized and directed to certify to said Financier the foregoing resolutions and that
the provisions thereof are in conformity with the charter of this City.
• 1 further certify that there is no provision in the charter of this City limiting the
power of the City Council to pass the foregoing resolutions and that the same are in
conformity with the provisions of said charter.
I further certify that the following are the names and official signatures of those
persons authorized to act by the foregoing resolutions.
IN WITNESS WHEREOF, I have hereunto subscribed my name and affixed the
seal of this City, this 18th day of February, 1997.
A r
c James E. Kirk
Mayor
ATTEST:
Bonnie S. Thomas, CMC
City Clerk I
ID
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