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precedent to and in connection with the consummation of such refinancing
<br />authorized hereby do exist, have happened and have been performed in
<br />regular and due time, form and manner as required by law, and the
<br />Authority is now duly authorized and empowered, pursuant to each and
<br />every requirement of law, to consummate such refinancing for the
<br />purpose, in the manner and upon the terms herein provided.
<br />SECTION 2. All of the recitals herein contained are true and correct and the
<br />Governing Board so finds.
<br />SECTION 3. The forms of Master Installment Agreement and the First
<br />Supplement, on file with the Secretary of the Authority, are hereby approved, and the
<br />Chair or Vice -Chair of the Authority, or such other member of the Governing Board as
<br />the Chair may designate, the Executive Director of the Authority, the Treasurer of the
<br />Authority and the Controller of the Authority (the "Authorized Officers") are each hereby
<br />authorized and directed, for and in the name and on behalf of the Authority, to execute
<br />and deliver the Master Installment Agreement and the First Supplement in substantially
<br />said form, with such changes therein as the Authorized Officer executing the same may
<br />require or approve, such approval to be conclusively evidenced by the execution and
<br />delivery thereof; provided, however, that the aggregate amount of the principal
<br />components of the installment payments evidenced under the First Supplement shall
<br />not exceed $47,000,000 and the true interest cost applicable to the interest components
<br />of the installment payments shall not exceed 4.75%.
<br />SECTION 4. The form of Indenture, on file with the Secretary of the Authority, is
<br />hereby approved, and the Authorized Officers are each hereby authorized and directed,
<br />for arid in the name and on behalf of the Authority, to execute and deliver the Indenture
<br />in substantially said form, with such changes, insertions and omissions therein as the
<br />Authorized Officer executing the same may require or approve, such approval to be
<br />conclusively evidenced by the execution and delivery thereof; provided, however, that
<br />the aggregate amount of the Bonds shall not exceed $47,000,000 and the true interest
<br />cost applicable to the Bonds shall not exceed 4.75% and, provided, further, that such
<br />changes, insertions and omissions shall be consistent with the terms of the Bonds
<br />established by the Purchase Agreement as finally executed.
<br />SECTION 5. The issuance of not to exceed $47,000,000 aggregate principal
<br />amount of the Bonds, in the principal amounts, bearing interest at the rates and
<br />maturing on the dates as specified in the Indenture as finally executed, and for the
<br />purpose of financing the Project and refinancing the 2014 Bonds, is hereby authorized
<br />and approved.
<br />SECTION 6. The form of Purchase Agreement, on file with the Secretary of the
<br />Authority, is hereby approved, and the Authorized Officers are each hereby authorized
<br />and directed, for and in the name arid on behalf of the Authority, to execute and deliver
<br />the Purchase Agreement in substantially said form, with such changes therein as the
<br />Authorized Officer executing the same may require or approve, such approval to be
<br />conclusively evidenced by the execution and delivery thereof; provided, however, that
<br />Resolution No. 2024-XXX
<br />Page 3 of 5
<br />55394.00068\42111245.3
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