Laserfiche WebLink
<br />EXHIBIT B <br />LEGAL COUNSEL OPINION <br /> <br />TYMCO, Inc. <br />P.O. Box 2368 <br />Waco, TX 76703 <br /> <br />Date: July 29, 1998 <br /> <br />RE: City of Paris Municipal Lease/Purchase of one TYMCO Model600BAH <br /> <br />Gentlemen: <br /> <br />" <br /> <br />As legal counsel to the City of Paris, (the "Buyer"), I have examined (I) an executed counterpart of a certain Equipment <br />LeaseIPurchase Agreement (the "Agreement") dated July 29. 1998, by and between, TYMCO, Inc., as Seller, and the <br />Buyer, which, inter alia, provides for the sale to and purchase by the Buyer of certain property (the "Property"), (2) an <br />executed counterpart of Resolution No. dated , , of the Buyer <br />which, inter alia, authorizes the Buyer to execute the Agreement and (3) such other opinions, documents and matters of <br />law as I have deemed necessary in connection with the following opinions. <br /> <br />Based upon the foregoing, it is my opinion that: <br /> <br />HI <br /> <br />(1) The Buyer is a municipal corporation, duly organized and existing under the laws of the State of Texas, with the <br />requisite power and authority to incur obligations the interest on which are exempt from taxation by virtue of Section <br />103 of the Internal Revenue Code of 1954, as amended, to purchase the Property and to execute, deliver and perform <br />its obligations under the Agreement; <br /> <br />(2) The Agreement and the other documents either attached thereto or required therein have been duly authorized, <br />approved and executed by and on behalf of the Buyer and the Agreement is a valid and binding obligation of the <br />Buyer enforceable in accordance with its terms; <br /> <br />(3) The authorization, approval and execution of the Agreement and all other proceedings of the Buyer relating to the <br />transactions contemplated thereby have been performed in ~ccordance with all open meeting laws, public bidding <br />laws and all other applicable state or federal laws; . I' <br /> <br />(4) There is no proceeding pending or threatened in any court or before any governmental authority or arbitration board <br />or tribunal which, if adversely determined, would adversely affect the transactions contemplated by the Agreement <br />or the security interest of the Seller or its assigns, as the case may be, in the Property. <br /> <br />Respectfully submitted, <br /> <br />\ <br /> <br />" <br />" <br /> <br />Scott P. Foster <br />City Attorney <br />By: <br /> <br />i' <br />" <br /> <br />" <br /> <br />" <br />" <br /> <br />II <br />'I <br /> <br />1 <br />