RESOLUTION #20-07
AUTHORIZING AN EQUIPMENT LEASE/PURCHASE
AGREEMENT IN THE PRINCIPAL AMOUNT OF NOT EXCEEDING $1,300,000 RELATING TO THE
FINANCING OF VARIOUS EQUIPMENT FOR PUBLIC PURPOSES; AUTHORIZING THE EXECUTION
AND DELIVERY OF VARIOUS DOCUMENTS INCLUDING AN EQUIPMENT LEASE/PURCHASE
AGREEMENT; AND OTHER MATTERS RELATING THERETO.
BE
IT RESOLVED BY THE COUNTY COUNCIL OF NEWBERRY COUNTY, SOUTH CAROLINA, AS
FOLLOWS:
Section 1. The County Council (the “Council”) of
Newberry County, South Carolina (the “County”), as lessee, hereby finds and
determines that:
(a) the
County is a body corporate and politic and a political subdivision of the State
of South Carolina and, as such, possesses all powers granted to political
subdivisions by the Constitution and general laws of this State;
(b) the
County desires to enter into an equipment lease/purchase agreement (the
“Lease”) with a bank or leasing company for the purpose of financing the
purchase of various equipment more fully described on Exhibit A attached hereto;
and
(c) the
payments by the County under the Lease will be subject to annual appropriation
by the Council.
Section 2. The Council hereby authorizes the County
Administrator to negotiate the terms of the Lease with one or more banks or
leasing companies selected by the County Administrator; provided, however that
the term of the Lease does not exceed five (5) years from the date of closing
and the interest rate does not exceed six percent (6%) per annum, without
further action required of Council.
Section 3. The Council hereby authorizes the Chairman
of the County Council to execute and deliver the Lease and the Clerk to County
Council to attest the same. The Council
hereby further authorizes the Chairman of the County Council, the County Administrator,
the Finance Director, the Clerk to County Council, and the County Attorney,
acting jointly or individually, to execute and deliver such other documents and
instruments as necessary to effect the execution and delivery of the Lease.
Section 4. The Lease will be designated as a “qualified
tax-exempt obligation” within the meaning of and for purposes of Section 265(b)
of the Internal Revenue Code of 1986, as amended, provided the Lease is
executed in calendar year 2007.
Done in meeting duly assembled
this 5th day of September, 2007.
NEWBERRY
COUNTY, SOUTH CAROLINA
Henry
B. Summer, Chairman of County Council
Newberry
County, South Carolina
ATTEST:
Susan
C. Fellers, Clerk to County Council
Newberry
County, South Carolina
|
Department |
Description |
Quantity |
|
Animal Control |
Vehicle |
1 |
|
Newberry Rescue Squad |
Defibrillator/Monitor |
1 |
|
|
Service Truck |
1 |
|
Whitmire Rescue Squad |
Generator |
1 |
|
Prosperity Rescue
Squad |
Extrication tools |
1 |
|
Haz Mat |
Vehicle |
1 |
|
Collections |
Forklift |
1 |
|
Hospital |
Ambulances |
2 |
|
Public Works |
Slope Mowers |
2 |
|
|
Motor Grader |
1 |
|
|
Backhoes |
2 |
|
|
Tri Axle Dump Truck |
1 |
|
|
Farm Tractor |
1 |
STATE OF
SOUTH CAROLINA )
) CERTIFIED COPY OF RESOLUTION
COUNTY OF
NEWBERRY )
I, the undersigned, being the duly
qualified and acting Clerk to County Council (the “County Council”) of Newberry
County, South Carolina, do hereby certify that attached hereto is a copy of the
Resolution adopted by the County Council at a meeting duly called and held on
September 5, 2007, at which a quorum was present and acting throughout, which
Resolution has been compared by me with the original thereof, and that such
copy is a true, correct and complete copy thereof, and that such Resolution has
been duly adopted and has not been modified, amended or repealed and is in full
force and effect on and as of the date hereof in the form attached hereto.
In
witness whereof, I have hereunto set my hand this 5th day of
September, 2007.
NEWBERRY
COUNTY, SOUTH CAROLINA
Clerk
to County Council