Res 1981-073 - Laserfiche WebLink

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fJ paying all or part of the cost of acquiring and constructing the Project, together with all costs of authorization, sale and issuance of the Bonds, including an amount adequate to reimburse the Issuer for its administrative and overhead expenses and costs with respect to the Bonds and the Project, which Bonds shall be payable solely from payments by the User to the Issuer and/or to a corporate trustee in such sums as are necessary to pay the principal of, premium, if any, and interest on, the Bonds, when due. Section 2: The proceeds of the Bonds will be used to acquire, construct, improve, maintain, equip and furnish all or part of the Project or will be loaned to the User to pay all or part of the costs of acquiring, constructing, improving, maintaining, equipping and furnishing the Project. Section 3: The Issuer will enter into a lease, sale or loan agreement with the User providing for the lease or sale of the Project to the User or for the financing of all or part of the cost of the Project, as more fully described in the Agreement to Issue Bonds. Section 4: The Board hereby finds, determines and declares that (i) the Project is required and suitable for the promotion of manufacturing development and expansion and for the industrial development and expansion of industrial facilities, (ii) the Project will increase employment opportunity in the Unit by creating approximately 200 new jobs-, and (iii) the Project is in furtherance of the public purposes of the Act. Section 5: The Agreement t, Issuer and the User in substance shown in Exhibit A hereof, which purposes, is hereby approved and the Issuer are hereby authorized Agreement to Issue Bonds for and D Issue Bonds by and between the and in form substantially as is made a part hereof for all the President and Secretary of to execute and attest such on behalf of the Issuer. Section 6: The Issuer hereby grants to the User the right to act as agent for and on behalf of the Issuer with regard to the Project. Section 7: This Resolution, together with the Agreement to Issue Bonds attached hereto, shall be deemed and construed as a resolution authorizing the issuance of the aforesaid Bonds or some other similar official action toward the issuance of the Bonds within the meaning of Section 1.103-8(a)(5) of the Treasury regulations issued pursuant to Section 103(b) of the Internal Revenue Code of 1954, as amended. 0/T462/D -2-