03-23-1998 Council Packet - Laserfiche WebLink

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savings (using the yield on the Bonds, computed in accordance with Section 148 of the Internal Revenue Code of 1986, as amended, as the discount factor? of approximaiely $_______________. Section 2. For the purpose of paying certain of ihe costs of the refunding, there is hereby authorized the issuance of Public Facilities Revenue Refunding Bonds, Series 1998 of the Authority in the aggregate principal amount of $2,400,000. The Bonds shall be issued in fully registered form, shall be in such denominations, shall be payable on the dates and in the principal amounts and shall be payable from the sources and in the manner provided in the Indenture. The Bonds shall bear interest at the ra^es set forth in Section 6. This Board hereby authorizes and directs the Chairperson to execute and the Secretary to attest under the corporate seal of the Authority the First Supplemental Indenture in the name and on behalf of the Authority and to deliver to the Tmstee the First Supplemental Indenture, and does hereby authorize and direct the execution of the Bonds in accordance with the provisions of the Indenture. All of the provisions of the First Supplemental Indenture, when executed as authorized herein, shall be deemed to be a part of this resolution as fully and to the same extent as if incorporated herein. The First Supplemental Indenture shall be substantially in the form on file in the office of the Secretary with such necessary and appropriate variations, omissions and insertions as the Chairperson, in his discretion, shall determine, and the execution thereof by the Chairperson shall be conclusive evidence of such determination. Section 3. The Chairperson and the Secretary are hereby authorized and directed to execute and deliver the First Amendment to Lease. All of the provisions of the First Amendment to Lease, when executed and delivered as authorized herein, shall be deemed to be a part of this resolution as fully and to the same extent as if incorporated herein. The First Amendment to Lease shall be substantially in the form on file in the office of the Secretary, with such necessary and appropriate variations, omissions and insertions as the Chairperson, in his discretion, shall determine, and the execution thereof by the Chairperson shall be conclusive evidence of such determinations. Section 4. No covenant, stipulation, obligation or agreement herein contained or contained in the Indemare, the Bonds or the Lease shall be deemed to be a covenant, stipulation, obligation or agreement of any member of this Board or any officer, agent or employee of the Authority in that person’s individual c:' y, and neither this Board rior a y officer executing the Bonds shall be liable personally on the or be subject to any personal liability or accountability by reason of the issuance thereof Page 3 of 7