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RESOLUTION SUPPLEMENTING A RESOLUTION ADOPTED BY • THE COUNCIL ON OCTOBER 2, 2000, ENTITLED "RESOLUTION AUTHORIZING A REVOLVING LINE OF CREDIT OF $1,500,000 FROM SUNTRUST BANK AND APPROVING A LEASE -PURCHASE AGREEMENT FOR $818,000 WITH SUNTRUST BANK" On October 2, 2000, the Council of the City of Charlottesville, Virginia (the "City"), adopted a resolution, entitled "RESOLUTION AUTHORIZING A REVOLVING LINE OF CREDIT OF $1,500,000 FROM SUNTRUST BANK AND APPROVING A LEASE - PURCHASE AGREEMENT FOR $818,000 WITH SUNTRUST BANK" (the "October 2, 2000 Resolution"), (i) approving a Letter Agreement, dated August 30, 2000, between SunTrust Bank and the City for a revolving line of credit in the amount of One Million Five Hundred Thousand Dollars ($1,500,000) (the "Revolving Line of Credit") and the terms, conditions and provisions of such Letter Agreement; and (ii) approving an Equipment Lease Purchase Agreement, dated October 2, 2000, between SunTrust Bank and the City in an aggregate principal amount not to exceed $818,000 for the purpose of financing fire fighting equipment. The Council has determined that it is desirable to supplement the October 2, 2000 Resolution as provided herein. NOW, THEREFORE, BE IT RESOLVED by the Council of the City of Charlottesville, Virginia, that it is hereby confirmed that the October 2, 2000 Resolution contemplated that all financings effected by the City under the Revolving Line of Credit from time to time, including • the Equipment Lease Purchase Agreement referred to in clause (ii) above, shall be in the form of Equipment Lease Purchase Agreements with SunTrust Bank, which may be executed and delivered by the City Manager or any Deputy or Assistant City Manager on behalf of the City from time to time without further action by the Council, and that the rental payments payable by the City under such Equipment Lease Purchase Agreements in each fiscal year of the City shall be subject to appropriation of moneys for such purpose by the Council from time to time. BE IT FURTHER RESOLVED that all financings effected by the City through Equipment Lease Purchase Agreements entered into under the Revolving Line of Credit are contemplated to be and are designated as "qualified tax-exempt obligations" for purposes of Section 265(b)(3) of the Internal Revenue Code of 1986. BE IT FURTHER RESOLVED that this resolution shall take effect upon its adoption. Approved by Council May 7, 2001 l � (vz C e c of City Council