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the L-:>an .\9reement, Indenture or Guaranty Agreement, expressed or
<br />i.mp Lied, is intended or shall be construed to confer upon any
<br />per zon or Eirm or corporation other than the Issuer, the
<br />Jorro~er, the Guarantor, the holders of the Bonds anJ the Trustee
<br />,:my ri;iht., remedy or claim, legal or equitable , under and by
<br />r~a:..on ,:,f this resolution, the Loan Agreement, Guaranty Agreement
<br />or Indenture; this r~solution, the Loan Agreement , Guaranty
<br />~greement and Indenture intended to be and being for the sole and
<br />exc lus i. ve benefit of the Issuer, the Dor rower, the holders from
<br />t ime t o time of the Oonds and the Trustee.
<br />SECTION 13. PREREQUISITES PERFORMl::O. All acts, con-
<br />ditions ,-:ind things relating to the passage of this resolution,
<br />·.1nd t.o the execution of the Loan Agreement, Indenture or Guaranty
<br />Agr,.!e:n~nt, required by the Constitution or laws of the State to
<br />hap~en, exi:..t and be performed by th e Issuer precedent to and in
<br />the !)as sage hereof, and precedent to the execution and delivery
<br />of ~he Lo an Agreement, Indenture or Guaranty Agreement, have
<br />hap~ened, P.xist and have been performed as so required.
<br />51::C 'rION 14. GENERAL AU1'HORITY. The members of the
<br />Iloar.J of Coun t y Commissioners of the Issuer and the officers,
<br />attarneys, engineers or other agents or employees of the Issuer
<br />are hereby authorized to do all acts and things required of them
<br />by t.his resolution, the Loan l\greement, Indenture or Guaranty
<br />i\g rae;nent, or desirable or cons is tent with the requirements
<br />hereof or such documents, for the full, punctual and complete
<br />perf..irmance oE all the te1.·rns , covenants and agreements contained
<br />in the uonds, Loan Agreement, Indenture or Guaranty Agreement and
<br />this reso lution.
<br />SECTION 15,
<br />the r~suer is hereby
<br />proceedin1s in the
<br />Florida, to validate
<br />Vl\LlDl\TION AUTIIORIZED. The attorney for
<br />~uthorizeJ and directed to prepare and file
<br />Circuit Court f o r Indian Riv~r County,
<br />the Bonds in the manner provided by law,
<br />sr.:c·rroN L6. ARDITRl\GE, The Issuer covenants that it
<br />will not ~irect the Trustee to make any investments or acquiesce
<br />in the making of any investments by the 'l'rus tee pursuant to or
<br />unuer the Loan l\greement or the Indenture which coulrl cause the
<br />Oonlis to be ".irbitrage bonds" within the meaning of Section
<br />lOJ(c) of the Internal Revenue Code of 1954, as amended, and the
<br />applicable regulations issued thereunder,
<br />SECT !ON 17. RESOLU'l'ION CONS"r I'rUTES A CONTRACT. 'I'he
<br />rssuer covenants ~nd agrees that this resolution shall constitute
<br />a contract between the Issuer ~nJ the holders Erom time to time
<br />of any of th e Oonus then outstanding, and that all (!Ovenants and
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