d. Resolution/YMCA MIDA Bond - Laserfiche WebLink

principal of and interest on the Bonds will be payable solely from revenues derived from the lease of the Project to the Company and other mounts pledge under the Indenture. 3. Pursuant to a Lease Agreement between the County and the Company (the "Lease Agreement") the County will Lease the Project to the Company. The basic payments to be made by the Company under the Lease Agreement are established so as to produce revenue sufficient to pay the principal of, premium, if any, and interest on the Bonds when due. The County will assign its rights to the basic payments and certain other rights under the Lease Agreement to the Trustee as security for payment of the Bonds under the Indenture. 4. Under the provisions of the Act, and as provided in the Lease Agreement and Indenture, the Bonds are not to be payable from or charged upon any funds other than the revenue pledged to the payment thereof; the County is not subject to any liability thereon; nor shall the holder of any Bonds ever have the right to compel any exercise by the County of its taxing powers to pay any of the Bonds or the interest or premium thereon, or to enforce payment thereof against any property of the County except the interest of the County in the Lease Agreement which has been assigned to the Trustee under the Indenture; the Bonds shall not constitute a charge, lien or encumbrance, legal or equitable upon any property of the County except the interest of the County in the Lease Agreement which has been assigned to the Trustee under the Indenture; the Bonds shall recite that the Bonds are issued without obligation on the part of the State or its political subdivisions, and that the Bonds, including interest thereon, are payable solely from the revenues pledged to the payment thereof; and the Bonds shall not constitute a debt of the County within the meaning of any constitutional or statutory limitation. 5. Subject to the approval of the County's counsel, the forms of the Lease Agreement, the Indenture, the Mortgage and all other documents necessary for the issuance of the Bonds (the "Bond Documents") are hereby approved. The Bond Documents are directed to be executed in the name and on behalf of the County by the Chairman or other member of the County Commission and the County Auditor. Any other documents and certificates necessary to the transaction described above shall be executed by the appropriate County officers. Copies of all of the documents necessary to the transaction herein described shall be signed, delivered and filed as provided herein and in the Lease Agreement and Indenture. 6. The County shall forthwith proceed to issue its Bonds, beating interest at an average net annual rate not exceeding 8.00% and in such form and upon such other terms and conditions as set forth in the Indenture. The Chairman or other member of the County Commission and County Auditor are authorized and directed to prepare and execute the Bonds as prescribed in the Indenture and to deliver them to the Trustee for authentication and delivery to the bond purchaser. 7. The Chairman and County Auditor and other officers of the County are authorized and directed to prepare and furnish to the bond purchaser a certified copy of all proceedings and records of the County relating to the Bonds and such other affidavits and certificates as may be required to show the facts relating to the legality of the Bonds, as such facts appear from the books and records in the Officer's custody and control or as otherwise known to them; and all such certified -2-