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pay the same from any funds of the Issuer other than those <br />derived by the Issuer under the proposed Agreement and Note, or <br />any guaranty agreement by third parties; and such bonds shall not. <br />constitute a lien upon any property owned by or situated within <br />the tervitorial limits of the Issuer, except the Project. <br />H. The interest on the bonds, when duly authorized and <br />issued, will be exempt from federal income taxation under <br />existing laws of the United States. <br />SECTION 3. AUTHORIZATION OF EXECUTION AND DELIVERY OF <br />INDUCEMENT LETTER. The chairman and the Cleric of the Board of <br />County Commissioners of the Issuer are hereby authorized to exe- <br />cute and deliver the letter of the Issuer addressed to the <br />Borrower, in substantially the form attached to this resolution <br />as Exhibit A and incorporated by reference herein, with such <br />changes therein, whether made prior to the execution thereof or <br />thereafter, as shall be approved from time to time by such offi- <br />cers executing the same, such approval to be conclusively evi- <br />denced by their execution thereof. <br />SECTION 4. AUTHORIZATION OF NECESSARY ACTION. The <br />Chairman and Clerk of the Board of County Commissioners of the <br />Issuer and all other officers and employees of the Issuer are <br />hereby authorized to execute such further agreements and take <br />such further action as shall be necessary to carry out the intent <br />and purposes expressed in such letter attached hereto as Exhibit <br />MEM <br />r <br />f <br />I.( <br />i <br />R <br />pay the same from any funds of the Issuer other than those <br />derived by the Issuer under the proposed Agreement and Note, or <br />any guaranty agreement by third parties; and such bonds shall not. <br />constitute a lien upon any property owned by or situated within <br />the tervitorial limits of the Issuer, except the Project. <br />H. The interest on the bonds, when duly authorized and <br />issued, will be exempt from federal income taxation under <br />existing laws of the United States. <br />SECTION 3. AUTHORIZATION OF EXECUTION AND DELIVERY OF <br />INDUCEMENT LETTER. The chairman and the Cleric of the Board of <br />County Commissioners of the Issuer are hereby authorized to exe- <br />cute and deliver the letter of the Issuer addressed to the <br />Borrower, in substantially the form attached to this resolution <br />as Exhibit A and incorporated by reference herein, with such <br />changes therein, whether made prior to the execution thereof or <br />thereafter, as shall be approved from time to time by such offi- <br />cers executing the same, such approval to be conclusively evi- <br />denced by their execution thereof. <br />SECTION 4. AUTHORIZATION OF NECESSARY ACTION. The <br />Chairman and Clerk of the Board of County Commissioners of the <br />Issuer and all other officers and employees of the Issuer are <br />hereby authorized to execute such further agreements and take <br />such further action as shall be necessary to carry out the intent <br />and purposes expressed in such letter attached hereto as Exhibit <br />MEM <br />