1984-040A - Laserfiche WebLink

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ii interest in the terms of sale. The Borrower has expressed its unwillingness to undertake the risks and expenses attendant to a public sale of the Bonds. L. The complex nature of the security for payment of the Bonds requires a lengthy review of the credit of the Borrower which would be financially impractical for bidders to undertake in a competitive sale context. M. The Issuer expects to sell the Bonds at negotiated sale shortly after their validation. N. Notice of the proposed adoption of this resolution was published at least once not later han 14 days prior to the date of adoption of this resolution, in a newspaper of general circulation in the area of the Issuer. SECTION 4. FINANCING OF PROJECT AUTHORIZED. The financing of the cost of the Project in the manner provided in the Loan Agreement is hereby authorized. SECTION 5. AUTHORIZATION OF BONDS. Obligations of the Issuer to be known as "Industrial Development Revenue Bonds, Series 1984 (HETRA Project)," are hereby authorized to be issued in an aggregate principal amount not exceeding $2,500,000, in the form and manner described in the Indenture. The Bonds will be dated such date and mature in such years and amounts, will con- tain such redemption provisions and will bear interest at such rate or rates (not exceeding the maximum interest rate permitted by the Act), all as provided in the Indenture. SECTION 6. AUTHORIZATION OF EXECUTION AND DELIVERY OF LOAN AGREEMENT. The Loan Agreement, in substantially the form attached hereto as Exhibit B, with such changes, insertions and corrections as may be approved by the Chairman of the Board of County Commissioners of the Issuer (the "Chairman"), such appro- val to be presumed by his execution thereof, is hereby approved by the Issuer, and the Issuer hereby authorizes and directs the Chairman and Clerk of the Board of County Commissioners of the Issuer (the "Clerk") to execute and attest under the official seal of the Issuer, the Loan Agreement, and to deliver to the Borrower the Loan Agreement, all of the provisions of which, when executed and delivered d by Uy the issuer as authorized herein and by the Borrower duly authorized, shall be deemed to be a part of this resolution as fully and to the same extent as if incor- porated verbatim herein. SECTION 7. TRUSTEE AND PAYING AGENT. The Issuer hereby appoints Barnett Banks Trust Company, N.A., Jacksonville, Florida, as Trustee and Paying Agent with respect to the Bonds. -4-