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will be pledged to the payment of the principal, premiums (if any) , <br /> interest, or costs due pursuant to or under such Bonds; and <br /> (K) Based on the determination of the County's bond counsel, <br /> the Project is reasonably designed and intended to provide solid <br /> waste disposal facilities for the processing of citrus waste <br /> byproducts into animal feed within the meaning of the rules and <br /> regulations of the Internal Revenue Service, and the Project or the <br /> Company's principal place of business will be within the boundaries <br /> of the County; and <br /> (L) The issuance of the Bonds and the financing of the Pro- <br /> ject will otherwise comply with all of the provisions of the Act. <br /> SECTION 3. APPROVAL OF MEMORANDUM OF AGREEMENT. In order to <br /> assure the location of and to induce the Company to locate the <br /> Project in the boundaries of the County, with the resulting public <br /> benefits which flow therefrom, and to more effectively serve the <br /> purposes of the Act, the proposed Memorandum of Agreement to be <br /> made between the County and the Company, in the form and with the <br /> contents presented at and filed with the Minutes of this meeting, <br /> be and the same is hereby approved. <br /> SECTION 4. AUTHORIZATION OF EXECUTION AND DELIVERY OF MEMO- <br /> RANDUM OF AGREEMENT. The Chairman or the Vice-Chairman of the <br /> County is hereby authorized and directed to execute the Memorandum <br /> of Agreement in the name of and on behalf of the County, and the <br /> Clerk of the County is hereby authorized and directed to attest the <br /> same and to affix thereto the official seal of the County, and the <br /> Chairman or Vice-Chairman is hereby authorized to deliver the <br /> 6 <br />