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40 <br />a <br />0 <br />E. That any other requirements, determinations and conditions <br />that the Issuer may reasonably require in connection with the financing have <br />been satisfied; <br />then the Issuer shall, and by passage of this Resolution hereby agrees to, issue <br />Bonds to finance or refinance the acquisition, construction, renovation and <br />equipping of the Projects in accordance with the provisions and authority of the Act <br />and this Resolution. The principal amount. terms of maturity, interest rate and <br />other details of the Bonds will be determined by the Burrower and the Issuer and <br />subsequently adopted by resolution of the Issuer. <br />SECTION 8. AV1HORI7AATI0N TO E!%ECl3TE. The Chairman and <br />the Clerk of the Issuer are authorized in the name and on behalf of the Issuer <br />pursuant to this Resolution to execute and deliver a Memorandum of Agreement <br />(the "Memorandum of Agreement") of even date herewith between the Borrower and <br />the Issuer in substantially the form attached to this Resolution as exhibit "A," with <br />such changes as the officers signing such documents may approve, the execution <br />thereof to be conclusive evidence of such approval. Any action taken by the <br />Borrower in furtherance of the acquisition. construction, renovation and equipping <br />of the Project is hereby ratified, confirmed and approved. The officers executing <br />such Memorandum of Agreement are further authorized to do all acts which may be <br />required or may be advisable with respect thereto. <br />The Chairman and the Clerk of the Issuer are further authorised to <br />take such further action and execute such further instruments as may be necessary <br />to fully effectuate the purpose and intention of the Memorandum of Agreement, and <br />this Resolution. <br />SECTION ?. I I OPLIGATON '. The Bonds and the interest <br />thereon shall not constitute an indebtedness or pledge or the general credit or <br />taxing power of the Issuer, the State of Florida or any political subdivision or <br />agency thereof but shall be payable solely from the revenues pledged therefor <br />pursuant to a loan agreement or other financing agreement entered into by and <br />between the Issuer and the Borrower prior to or contemporaneously with the <br />issuance of the Bonds. <br />SECTION 8. EFFECTIVE DATE. This Resolution shall take effect <br />immediately upon its adoption. <br />4 <br />