I. Council Action Requested.
Title
To authorize the Town Treasurer to negotiate the terms of an Equipment Lease Purchase Agreement or Agreements and related documents providing financing of up to $232,051 including the interest rate, maturity and other terms and conditions with whatever financial institutions the Treasurer deems appropriate and to award the Equipment Lease Purchase Agreement(s) to such financial institution or institutions as he deems to be in the best interests of the Town in order to provide the Town with two (2) cardiac monitors, five (5) defibrillators, and one (1) 2013 dump truck and plow gear (collectively the "Project") at an aggregate cost of up to $232,051 plus interest at a rate or rates to be determined by the Town Treasurer,
FURTHER VOTED: That under and pursuant to the provisions of Maine law and the Town Charter, the Treasurer be and hereby is authorized to execute and deliver a tax-exempt Equipment Lease Purchase Agreement or Agreements in the name and on behalf of the Town for the purpose of providing the Project, at an aggregate cost of not more than $232,051 in such form as the Treasurer may approve; and to execute and deliver in connection with such Equipment Lease Purchase Agreement(s) such other documents as required by the Lessor of such equipment; and the Treasurer is further authorized to execute and deliver on behalf of the Town such other documents and certificates as may be required in connection with such tax-exempt equipment lease purchase agreement, including an Arbitrage and Use of Proceeds Certificate and a Signature and Award Certificate; and no part of the proceeds of such tax exempt equipment lease purchase agreement shall be used, directly or indirectly, to acquire any securities and obligations, the acquisition of which would cause the tax-exempt lease purchase agreement to be a "private activity bond" or an "arbitrage bond" within the meaning of Sections 142 and 148, respectively, of the Internal Reve...
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