2000-001 - Laserfiche WebLink

Home Browse Search

'-' Section 3. The form of the Loan Agreement presented at this meeting is hereby approved and the Chair, Chair Pro Tem or Executive Director of the Issuer, and each of them, acting alone, is hereby authorized and empowered to execute by manual or facsimile signature and deliver the Loan Agreement, and the Secretary of the Issuer is authorized to attest thereto, with such changes and insertions therein as may be necessary to cause the same to carry out the intent of this Resolution and as are approved by counsel to the Issuer, such approval to be conclusively evidenced by the delivery thereof. Section 4. The form of the Escrow Agreement presented at this meeting is hereby approved and the Chair, Chair Pro Tem or Executive Director of the Issuer, and each of them, acting alone, is hereby authorized and empowered to execute by manual or facsimile signature the Escrow Agreement, and the Secretary of the Issuer is authorized to attest thereto, with such changes and insertions therein as may be necessary to cause the same to carry out the intent of this Resolution and as are approved by counsel to the Issuer, such approval to be conclusively evidenced by the delivery thereof. '"" Section 5. The form of the Tax Regulatory Agreement presented at this meeting is hereby approved and the Chair, Chair Pro Tem or Executive Director of the Issuer, and each of them, acting alone, is hereby authorized and empowered to execute by manual or facsimile signature and deliver the Tax Regulatory Agreement with such changes and insertions therein as may be necessary to cause the same to carry out the intent of this Resolution and as are approved by counsel to the Issuer, such approval to be conclusively evidenced by the delivery thereof. Section 6. Repayment of the principal of, premium, if any, and the interest on, the loan from the Lender to the Issuer shall be made solely from the revenues to be received by the Issuer from the Borrower pursuant to the Loan Agreement, and the loan from the Lender shall not be deemed to constitute a debt or liability of the State or any agency or instrumentality thereof other than the Issuer. The loan from the Lender to the Issuer and the Loan shall be payable on the dates and in the amounts and shall bear interest at the rate or rates set forth in the Loan Agreement. In no event shall the rate of interest on the loan from the Lender to the Issuer and the Loan exceed twelve percent (12%) per annum or the maximum rate permitted by law. Section 7. The Chair, Chair Pro Tem or Executive Director of the Issuer, and each of them, acting alone, is hereby authorized to execute all documents, certificates and instruments necessary or appropriate to the borrowing of funds from the Lender and the making of the Loan. All actions required to be undertaken by the Secretary of the Issuer that are necessary or appropriate to the borrowing of funds from the Lender and the making of the Loan may be undertaken by the Secretary's designee. Section 8. All actions heretofore taken by the officers and agents of the Issuer with respect to the borrowing of funds from the Lender and the Loan are hereby '"" approved, confirmed and ratified, and the officers of the Issuer and their authorized Resolution No. 2000-001 Page 30f4