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r <br /> 11(N� <br /> A <br /> Memorandum of Agreement to the Company. Such officers and all <br /> other officers and employees of the County are hereby authorized to <br /> execute and deliver such further agreements, instruments and <br /> documents and to take such further action as may be necessary and <br /> desirable to effectuate and carry out the intent and purposes of <br /> the Memorandum of Agreement, when executed and delivered by the <br /> County. <br /> SECTION 5. STATEMENT OF OFFICIAL INTENT. The Company is <br /> hereby authorized to incur expenditures on the costs of the <br /> Project, which expenditures are to be reimbursed to the Company <br /> from the proceeds of the Bonds upon their issuance. This <br /> Resolution shall constitute a reimbursement allocation by the <br /> County and a declaration of "official intent" by the County toward <br /> the issuance of the Bonds, within the meaning of Treasury <br /> Regulation Section 1.150-2. <br /> SECTION 6. SCOPE OF COUNTY APPROVAL. It is expressly stated <br /> and agreed that the adoption of this Resolution is not a guaranty, <br /> express or implied, nor that the County shall approve the closing <br /> and issue the Bonds for the Project. The Company shall hold the <br /> County and its past, present and future members, officers, staff, <br /> attorneys, financial advisors and employees harmless from any <br /> liability or claim based upon the failure of the County to close <br /> the transaction and issue the Bonds or any other cause of action <br /> arising from the adoption of this Resolution, the processing of the <br /> financing for the Project, or the issuance of the Bonds. <br /> 7 <br />