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<br />1. Loan Agreement, dated as of February 1, 1999 (the Loan Agreement), <br />between the Issuer and the Borrower, including a promissory note from the <br />Borrower to the Issuer in the principal amount of the Bonds (the Note); <br /> <br />2. Trust Indenture, dated as of February 1, 1999 (the Indenture), between the <br />Issuer and Chase Manhattan Trust Company, Philadelphia, Pennsylvania, as <br />trustee (the Trustee); <br /> <br />3. Bond Placement Agreement, dated as of February 19, 1999 (the Placement <br />Agreement), between the Issuer, the Borrower, and PNC Capital Markets, <br />Inc., as Placement Agent for the Bonds (the Placement Agent); <br /> <br />4. Private Placement Memorandum (thePOS) prepared by the Placement Agent; <br />and <br /> <br />5. Credit and Reimbursement Agreement, dated as ofF ebruary 1, 1999, between <br />the Borrower and PNC Bank, National Association, Pittsburgh, Pennsylvania, <br />including the Letter of Credit referenced in this agreement. <br /> <br />and the Secretary of the Issuer has been directed to file the foregoing documents with the minutes <br />of the meeting at which this resolution was adopted; and <br /> <br />WHEREAS, the Issuer hereby finds and determines that the adoption of this resolution is in <br />the best interests of the citizens of the Unit, now, therefore, <br /> <br />BE IT RESOLVED BY THE BOARD OF DIRECTORS OF THE CITY OF SAN MARCOS <br />INDUSTRIAL DEVELOP:MENT CORPORATION THAT: <br /> <br />SECTION 1. Based solely. upon the representations made to the Board of Directors (the <br />Board) and to the Texas Department of Economic Development by the Borrower, it appears and the <br />Board hereby finds that: <br /> <br />(a) <br /> <br />The Project is suitable for the promotion, development and expansion of <br />manufacturing facilities; <br /> <br />(b) <br /> <br />The Project will have an impact of increasing employment within the Unit's <br />boundaries; <br /> <br />(c) <br /> <br />The Project is in furtherance of the public purposes of the Act; and <br /> <br />(d) <br /> <br />The terms and conditions of the Bonds and the above-described instruments, <br />including without limitation the date, interest rate provisions, maturity, <br />redemption terms, and sales price of the Bonds, and the manner of disbursing <br />the proceeds thereof, are advisable. <br /> <br />543516.1 <br /> <br />-2- <br />