1990-12-17 Resolution 26 - Laserfiche WebLink

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(30) days, without readvertising; provided, however, that if said sale be continued, no bid shall be accepted which offers an interest cost which is equal to or higher than the best bid received at the time fixed for the sale of the Bonds. Prior to the delivery of the Bonds the Secretary shall be authorized to obtain a legal opinion as to the validity of the Bonds from Baker & Daniels, bond counsel for the Authority, and to furnish such opinion to the purchaser or purchasers of the Bonds. The cost of such opinion shall be considered as part of the costs incidental to the issuance of the Bonds and shall be paid out of proceeds of said Bonds. Section 7. If the President and the Treasurer, with the advice of the financial advisor to the Authority, determine that market conditions at the time of the sale of the Bonds are such that the Authority is able to finance the Project by issuing Bonds in an aggregate principal amount which is less than $4,200,000, then the Authority shall issue such lesser principal amount of Bonds. Section 8. After the sale of the Bonds, the President and the Secretary are authorized to complete the Trust Agreement and then to execute the same on behalf of the Authority. Section 9. The President, Vice President, and Secretary-Treasurer of this Authority and each of them is hereby authorized to take all such actions and to execute all such instruments as are desirable to carry out the transactions contemplated by this Resolution, in such forms as the President, -6- \rlhill\sthbnd\airport\resoluti\ra-suth.2;tmg;12/14/90;