Title
RESOLUTION AUTHORIZING EXECUTION OF NOTICE OF ACKNOWLEDGMENT OF ASSIGNMENT OF A MASTER LEASE/PURCHASE AGREEMENT DATED MARCH 28, 2008, FROM BANC OF AMERICA PUBLIC CAPITAL CORP TO KEY GOVERNMENT FINANCE, INC.
Body
CITY PROPOSAL:
RESOLVED, that the proper city officials are hereby authorized to execute a Notice of Acknowledgment of Assignment, substantially in the form attached as exhibit A, consenting to the assignment and transfer by Banc of America Public Capital Corp (“Banc of America”) to Key Government Finance, Inc., of the Master Lease/Purchase Agreement dated March 28, 2008, between Banc of America and the City of Duluth.
Statement of Purpose
STATEMENT OF PURPOSE: The purpose of this resolution is to authorize and acknowledge the sale, assignment and transfer by Banc of America to Key Government Finance, Inc., of its rights, titles, interests and obligations in connection with the master lease/purchase agreement for gas utility equipment (water meters, ERTs and related equipment) dated March 28, 2008, with the city of Duluth and to authorize city official to execute the Notice of Acknowledgment of Assignment provided for in the master lease/purchase agreement.
.