08-13-04-Resolution-Lease Purchase Agreement Utility Metering System-08/16/2004RESOLUTION # 08-13-04
A RESOLUTION REGARDING A LEASE PURCHASE AGREEMENT FOR THE
PURPOSE OF PROCURING A "UTILITY METERING SYSTEM."
WHEREAS, the City of Sanger, Texas ("the City"), desires to enter into that certain Lease -Purchase Agreement
dated as of August 16, 2004, by and between the City and Government Capital Corporation ("GCC"), for the
purpose of procuring said UTILITY METERING SYSTEM ("the Project"). The Board desires to designate
Tommy Kincaid, Mayor, as an authorized signer of the Agreement.
NOW THEREFORE, BE IT RESOLVED BY THE CITY COUNCIL OF THE CITY OF BANGER, TEXAS:
Section 1. That the District enter into aLease-Purchase Agreement with Government Capital
Corporation for the purpose of procuring the UTILITY METERING PROJECT.
Section 2. That the Lease -Purchase Agreement dated as of August 16, 2004, 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 designates Tommy Kincaid, Mayor, as an authorized signer of the Lease -
Purchase Agreement dated as of August 16, 2004, by and between the City and Government Capital Corporation.
PASSED AND APPROVED by the City Council of the City of Sanger, Texas in a meeting held on the 16 ` of
August, 2004.
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