1996-03-13 Resolution 107 - Laserfiche WebLink

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Section 11. If the President or the Secretary-Treasurer determine that market conditions at the time of the sale of the Bonds are such that the Authority is able to finance the refunding of the Prior Bonds by issuing (i) Series 1996 A Bonds in an aggregate principal amount which is less than $6,000,000.00 or (ii) Series 1996 B Bonds in an aggregate principal amount which is less than $3,000,000.00, then the Authority shall issue such lesser principal amounts of Series 1996 A Bonds and/or Series 1996 B Bonds. Section 12. After the sale of the Bonds, the President and the Secretary- Treasurer are authorized to complete the Trust Agreement and the Escrow Agreement and then to execute the same on behalf of the Authority. Section 13. 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 h as t e President, Vice President and Secretary-Treasurer executing the same shall deem proper, to be evidenced by the execution thereof. Section 14. The provisions of this Resolution and the Trust Agreement shall constitute a contract between the Issuer and the holders of the Bonds, and, after the issuance of the Bonds, this Resolution shall not be repealed or amended in any respect which would adversely affect the rights of such holders so long as the Bonds or the interest thereon remains unpaid. -8-