88-091 RES
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RESOLUTION 88 - 91
A RESOLUTION OF THE CITY OF ELK RIVER
A RESOLUTION WITH RESPECT TO
QUALIFIED TAX-EXEMPT OBLIGATIONS
WHEREAS, the City Council of the City of Elk River desires to
designate that a certain Equipment Lease-Purchase
Agreement dated September 29, 1988 as a qualified tax-
exempt obligation of the City for the purposes of
Section 265(b) (3) of the Internal Revenue Code of
1986.
NOW, THEREFORE, BE IT RESOLVED by the City Council of the City of
Elk River that the Equipment Lease-Purchase dated as of
September 29, 1988 by and between City of Elk River and
First Continental Leasing Corporation is hereby
designated by City of Elk River as a "qualified tax-
exempt obligation" for purposes of Section 265(b) (3) of
the Internal Revenue Code of 1986.
Passed and adopted by the City Council of the City of Elk River
this 7th day of November, 1988.
(1.;bM C ~
Estelle E. Gunkel, Mayor
ATTEST:
7)t~ [)y;~
Patr1ck D. Klaers, Cify Administrator