HomeMy WebLinkAbout0117_0115Section 3. The Board hereby approves the Agreement in
substantially the form and substance presented to the Board and
the President or any Vice President is hereby authorized and
directed, for and on behalf of the Issuer, to date; sign, and
otherwise execute the Agreement, and the Secretary or any Assis-
tant Secretary of the Board is authorized and directed for and on
behalf of the Issuer to attest the Agreement, and such officers
are hereby authorized to deliver the Agreement. Upon execution
by the parties thereto and delivery thereof, the Agreement shall
be binding upon the Issuer in accordance with the terms and "
provisions thereof. The Board authorizes the loan of the pro-
ceeds of the sale of the Bonds to the User in order to provide
financing of the costs of acquisition and construction of the
Project.in accordance with the terms of the Agreement.
Section 4. The Board hereby approves the Bonds in the
aggregate principal amount of $400,000, which Bonds are autho-
rized to be issued for the purpose of paying the cost of acquir-
ing, constructing, reconstructing, improving, or expanding, as
the case may be, the Project.
Section 5. The Board.hereby approves the Indenture in
substantially the -form and substance presented to the Board and
the President or any Vice President is authorized and directed
for and on behalf of the Issuer to date, sign, and otherwise
execute the Indenture and the Secretary or any Assistant Secre-
tary is hereby authorized to attest the Indenture and such
officers are hereby authorized to deliver the Indenture. The
details of the Bonds shall be as set forth in the Indenture. The
sale and delivery of the Bonds by the Issuer to the Purchaser at
a price equal to 100% of the principal amount thereof is. hereby
authorized and approved.
Section 6. The Board hereby approves the Guaranty
Agreement in substantially the form and substance presented to
the Board.
Section 7. The Board hereby approves and accepts the
Mortgage in substantially the form and substance presented to the
Board.
Section 8. The Board hereby approves the Memorandum in
substantially the form and substance presented to the Board and
the President or any Vice President is authorized and directed,
for and on behalf of the Issuer, to date, sign, or otherwise
execute the Memorandum and the Secretary or any Assistant Secre-
tary is hereby authorized to attest the Memorandum and such
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