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1988-06-17 Resolution 8
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1988-06-17 Resolution 8
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7/17/2008 11:50:07 AM
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~r <br />1. <br />acceptable bid is received at the time fixed for the sale of t e <br />• Bonds, the Secretary shall be authorized to continue to receive <br />bids from day to day thereafter for a period not to exceed thirty <br />(30) days, without readvertising; provided, however, that if said <br />sale be continued, no bid shall be accepted which offers an <br />' interest cost which is equal to or higher than the best bid <br />received at the time fixed for the sale of the Bonds.. Prior to <br />the delivery of the Bonds the Secretary shall be authorized to <br />obtain a legal opinion as to the validity of the Bonds from Baker <br />& Daniels, bond counsel for the Authority, and to furnish such <br />opinion to the purchaser or purchasers of the Bonds. The cost of <br />such opinion shall be considered as part of the costs incidental <br />to the issuance of the Bonds and shall be paid out of proceeds of <br />said Bonds. <br />• Section 7. If the President and the Treasurer, with the <br />advice of the financial advisor to the Authority, determine that <br />market conditions at the time of the sale of the Bonds are such <br />that the Authority is able to finance the acquisition of the <br />Facility, including the site thereof, by issuing Bonds in an <br />aggregate principal amount which is less than $5,685,000, then <br />the Authority shall issue such lesser principal amount of Bonds. <br />Section 8. After the sale of the Bonds, the President <br />and the Secretary are authorized to complete the Trust Agreement <br />and then to execute the same on behalf of the Authority. <br />Section 9. The President, Vice President, and <br />Secretary-Treasurer of this Authority and each of them is hereby <br />authorized to take all such actions and to execute all such <br />instruments as are desirable to carry out the transactions <br />• <br />-5- <br />
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