2007-11 PD CADD System LeaseA RESOLUTION OF THE CITY OF OKEECHOBEE, FLORIDA,
AUTHORIZING THE EXECUTION AND ACCEPTANCE OF A
LEASE PURCHASE AGREEMENT BETWEEN THE CITY OF
OKEECHOBEE AND GOVERNMENT CAPITAL CORPORATION
FOR THE PURPOSE OF THE PROCURING OF THE "LAW
ENFORCEMENT SYSTEM" PROVIDING FOR AN EFFECTIVE
DATE.
WHEREAS, the City of Okeechobee desires to enter into that certain Lease Purchase Agreement
No. 4704, by and between Government Capital Corporation and the City of Okeechobee,
for the purpose of the procuring of the "Law Enforcement System and
WHEREAS, the City desires to designate this agreement as a "Qualified Tax Exempt Obligation"
of the City for the purposes of Section 265 (b)(3) of the Internal Revenue Code of 1986,
as amended; and
WHEREAS, the City of Okeechobee desires to designate Brian Whitehall, City Administrator, as
an authorized signer of the agreement.
NOW, THEREFORE, be it resolved before the City Council of the City of Okeechobee, Florida;
presented at a duly advertised public meeting; and passed by a majority vote of the City
Council; and properly executed by the Mayor or designee, as Chief Presiding Officer for
the City, that:
SECTION 1. That the City of Okeechobee enters into a Lease Purchase Agreement with
Government Capital Corporation for the purpose of the procuring of the "Law
Enforcement System."
SECTION 2. That the Lease Purchase Agreement No. 4704, by and between the City and
Government Capital Corporation is designated by the City 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 City of Okeechobee designates Brian Whitehall, City Administrator, as an
authorized signer of the Lease Purchase Agreement No. 4704, by and between the
City of Okeechobee and Government Capital Corporation.
SECTION 4. This Resolution shall take effect immediately upon adoption.
INTRODUCED AND ADOPTED in regular session this 6t day of November, 2007.
ATTEST:
RE)I.I€W
Lan Gamiotea, CMC, City Clerk
FOR LEGAL UFFICIENCY:
John R. Cook, City Attorney
RESOLUTION NO. 07 -11
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James E. Kirk, Mayor