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<br />C7 <br /> <br />Section 4. The President, Vice President, and Secretary of this Authority and each <br />of them is hereby authorized to take all such actions and to execute all such instruments as are <br />desirable to carry outthe transactions contemplated by this Resolution, in such forms as the <br />President, Vice President, and Secretary executing the same shall deem proper, to be evidenced by <br />the execution thereof. <br />Section 5. The provisions of this Resolution shall constitute a contract between <br />the Issuer and the holders of the Notes, and, after the issuance of the Notes, this Resolution shall not <br />be repealed or amended in any respect which would adversely affect the rights of such holders so <br />long as the Notes or the interest thereon remains unpaid. <br />Section 6. The Authority hereby approves the preliminary plans and cost <br />• <br />estimates for the Project. <br />Section 7. The Authority hereby approves the proposed lease between the <br />Authority and the Commission to be dated as of March 1, 1999, in the form presented at this meeting <br />and as attached hereto as Exhibit A. <br />Section 8. The President is authorized to appoint an escrow agent for the purpose <br />• <br />of receiving semi-annual lease rental payments from the Commission and making principal and <br />interest payments on the Notes to HUD's fiscal agent pursuant to the terms of the Notes. The <br />President and Secretary are hereby authorized to enter an agreement in a form acceptable to said <br />officers upon the advice of counsel for such purpose. <br />:ODMA\PCDOCS\SBDOCSI\32703\2 <br />-3- <br />