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• RESOLUTION OF THE COUNCIL OF THE CITY OF <br />CHARLOTTESVILLE, VIRGINIA, APPROVING FORM AND <br />THE TERMS, CONDITIONS AND PROVISIONS OF AN <br />EQUIPMENT LEASE PURCHASE AGREEMENT BY AND <br />BETWEEN THE CITY AND SUNTRUST BANK <br />BE IT RESOLVED BY THE COUNCIL OF THE CITY OF <br />CHARLOTTESVILLE, VIRGINIA: <br />SECTION 1. Findings and Determinations. The Council (the "Council') <br />of the City of Charlottesville, Virginia (the "Council') hereby finds and determines as <br />follows: <br />(a) The City has entered into agreements to purchase nine police <br />cruisers, a boring machine and a fire brush unit and related loose equipment for an <br />aggregate purchase price of approximately $737,019.90, to be financed from moneys to <br />be advanced to the City by SunTrust Bank under an Equipment Lease Purchase <br />Agreement (the "Equipment Lease Purchase Agreement') by and between SunTrust <br />Bank, as Lessor, and the City, as Lessee. <br />• (b) The Council has determined to approve the form of the Equipment <br />Lease Purchase Agreement and the terms, conditions and provisions of the Equipment <br />Lease Purchase Agreement and to authorize the execution and delivery of the Equipment <br />Lease Purchase Agreement for the purpose of financing the purchase price of the <br />equipment described in Section I(a). <br />SECTION 2. Approval of Form and Terms. Conditions and Provisions of <br />Equipment Lease Purchase Agreement: Authorizing Execution of Eauioment Lease <br />Purchase Agreement. The Council hereby approves the form and the terms, conditions <br />and provisions of the Equipment Lease Purchase Agreement and authorizes the Chief <br />Operating Officer/Chief Financial Officer to execute and deliver the Equipment Lease <br />Purchase Agreement to SunTrust Bank in such form, together with such changes as he <br />shall approve on advice of counsel (which may be the City Attorney or Bond Counsel to <br />the City), such approval to be conclusively evidenced by his execution of the Equipment <br />Lease Purchase Agreement, it being understood that the rental payments payable by the <br />City under the Equipment Lease Purchase Agreement in each fiscal year of the City shall <br />be subject to appropriation of moneys for such purpose by the Council from time to time. <br />SECTION 3. Effectiveness of Resolution. This resolution shall take <br />effect upon its adoption. <br />Approved by Council <br />• September 4, 2007 Cler c of City Council <br />