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1992-06-18 Resolution 56
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1992-06-18 Resolution 56
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7/18/2008 5:17:12 PM
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Secretary shall be authorized to continue to receive bids from day <br />to day thereafter for a period not to exceed thirty (30) days, <br />without readvertising; provided, however, that if said sale be <br />continued, no bid shall be accepted which offers an interest cost <br />which is equal to or higher than the best bid received at the time <br />fixed for the sale of the Bonds. Prior to the delivery of the <br />Bonds, the Secretary shall be authorized to obtain a legal opinion <br />as to the validity of the Bonds from Baker & Daniels, bond counsel <br />for the Authority, and to furnish such opinion to the purchaser or <br />purchasers of the Bonds. The cost of such opinion shall be <br />considered as part of the costs incidental to the issuance of the <br />Bonds and shall be paid out of proceeds of said Bonds. <br />Section 8. If the President and the Treasurer, with <br />the advice of the financial advisor to the Authority, determine <br />that market conditions at the time of the sale of the Bonds are <br />such that the Authority is able to finance the Project by issuing <br />Bonds in an aggregate principal amount which is less than <br />$1,410,000, then the Authority shall issue such lesser principal <br />amount of Bonds. <br />Section 9. 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 10. 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 />-6- <br />
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