42-08 Enter Lease Financing for Motorized Vehicles & Equip

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body corporate and politic authorized to enter into a lease-purchase fmancing transaction with the City, Section 4. Award of Eqnipment Lease-Purchase Financing. This Council authorizes and directs the Director of Finance to award the Equipment Lease-Purchase Financing to the proposer offering the most favorable terms to the City, within the limits set forth in Section 3, in the judgment of the Director of Finance, Section 5. Signing and Deliyery of Financing Documents. This Council authorizes and directs the Mayor, the Director of Finance, and the Director of Law to sign, deliver, and approve, as appropriate, the documents necessary to complete the Equipment Lease-Purchase Financing. Any document for the Equipment Lease-Purchase Financing may be signed in the name of the City by anyone of the Authorized Officers, Without limiting the authorization in this Section 5, this Council authorizes and directs the Authorized Officers to sign, deliver, and approve any of the following: (a) a Lease Agreement between the City and the Leasing Company; (b) one or more property schedules for the Equipment, to be attached to the Lease Agreement; and (c) an instrument of conveyance, which may be by sale or lease, :from the City to the Leasing Company, Section 6. Snbsequent Financings. This Council may authorize additional projects to be financed under the same Lease Agreement between the City and the Leasing Company, by additional property schedules, Section 7. Supplemental Authority. This Council authorizes and directs any Authorized Officer to sign and deliver any and all other agreements, instruments, documents, certifications, and representations and to take any other action on behalf of the City, determined by that Authorized Officer, with the advice of counsel to the City, to be necessary to carry out the transactions described in this ordinance and to perform the obligations of the City under the documents entered into in connection with those transactions, Section 8. Ratification of Prior Acts. This Council ratifies and approves the acts of any officers and employees of the City in taking any prelinlinary action in connection with the transactions described in this ordinance, Section 9. Definitions. Words and terms are used in this ordinance with the following meanings: "Authorized Officers" means the Mayor and the Director of Finance, "Equipment" means the motorized vehicles and appurtenances to the vehicles, and computers and computer systems, acquired with the proceeds of the Series 2006 Notes, "