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Board of Trustees
114 Tillman Hall
Rock Hill, SC 29733, USA
803/323-2225
803/323-3001 (fax)
trustees@winthrop.edu

RESOLUTION AUTHORIZING AND APPROVING CERTAIN EQUIPMENT LEASE/PURCHASE TRANSACTIONS UNDER THE STATE MASTER LEASE PROGRAM WITH WELLS FARGO EQUIPMENT FINANCE, THROUGH THE SOUTH CAROLINA OFFICE OF STATE TREASURER IN THE AGGREGATE AMOUNT OF $2,000,000


FINDINGS OF FACT
As an incident to the adoption of this Authorizing Resolution (the “Resolution”) and the issuance of the debt provided for herein, the Board of Trustees (the Board of Trustees”) of Winthrop University (the “University”) hereby finds:

1. The Board of Trustees is the governing body of the University, constituted pursuant to Section 59-125-10 of the Code of Laws of South Carolina 1976, as amended.

2. The University has determined the need to purchase certain instructional and scientific equipment (the “Instructional and Scientific Equipment”).

3. Section 1-1-1020 of the Code of Laws of South Carolina 1976, as amended, provides that the Office of the State Treasurer (the “State Treasurer”) is authorized to provide financing arrangements under the State Treasurer’s Master Lease Program (the “Master Lease Program”) on behalf of the University.

4. The Associate Vice President for Finance and Business and Budget Officer for the University has submitted a financing request under the Master Lease Program, for the purchase of the Instructional and Scientific Equipment in the amount of $2,000,000 (the “Financing Request”). The Financing Request has been approved by the State Treasurer’s office.

NOW, THEREFORE BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE UNIVERSITY, AS FOLLOWS:

1. The Financing Request is hereby ratified, confirmed and approved and each of the University President and the Associate Vice President for Finance and Business is hereby authorized to enter into one or more transactions under such terms and conditions as he deems appropriate to effectuate the financings in an amount not to exceed $2,000,000 for the costs of the Instructional and Scientific Equipment and to enter into such agreements and execute such documents on behalf of the University as necessary for such financings, including an Equipment/Lease Purchase Agreement, an Acquisition Fund and any other documents necessary to secure such funds on behalf of the University to finance the Instructional and Scientific Equipment and any closing costs.

2. This Resolution shall constitute a declaration of “official intent” under United States Department of the Treasury Regulation Section 1.150-2 with respect to the components of the Project.

3. This Resolution shall take effect immediately.
IN THE HEART OF THE CAROLINAS
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