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1994-06-21 Resolution 94
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1994-06-21 Resolution 94
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7/23/2008 5:48:54 PM
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• President, Vice-President and Secretary are authorized to enter <br /> into such interest rate cap agreement and remarketing agreement in <br />such forms as may be acceptable to such officers upon the advice <br />of legal counsel together with such changes and modifications as <br />may be approved by the President, Vice-President or Secretary, said <br />officers' execution to be conclusive evidence of their approval of <br />such changes. <br />Section 10. The President and Secretary-Treasurer shall <br />obtain a legal opinion as to the validity of the Bonds from bond <br />counsel for the Authority and furnish such opinion to the purchaser <br />or purchasers of the Bonds. The costs of such bond opinion shall <br />be considered as part of the costs incidental to the issuance of <br />the Bonds and shall be paid out of proceeds of said Bonds. <br />• Section 11. If the President or the Secretary-Treasurer <br />determine that market conditions at the time of the sale of the <br />Bonds are such that the Authority is able to finance the Project <br />by issuing Bonds in an aggregate principal amount which is less <br />than Nineteen Million and 00/100 Dollars ($19,000,000.00), then the <br />Authority shall issue such lesser principal amount of Bonds. <br />Section 12. After the sale of the Bonds, the President <br />or the Vice-President and the Secretary-Treasurer are authorized <br />to complete the Trust Indenture and then to execute the same on <br />behalf of the Authority. <br /> <br />
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