1. MIDA Bond-Oak Grove School - Laserfiche WebLink

( e) it is desirable, feasible and consistent with the objects and purposes ofthe Act to issue the Bonds for the purpose of financing the Project; (f) the Bonds and the interest accruing thereon do not constitute an indebtedness ofthe Issuer within the meaning of any constitutional or statutory limitation of indebtedness and do not constitute or give rise to a pecuniary liability or a charge against the general credit or taxing powers of the Issuer and neither the full faith and credit nor the taxing powers of the Issuer, is pledged for the payment of the Bonds or interest thereon; and (g) in accordance with the Act, after due notice and publication thereof, a public hearing was conducted on the Project and the financing thereof, and persons in attendance wishing to speak regarding the Project and financing thereof were given an opportunity to do so at the hearing. 1.4. AUTHORIZATION AND RATIFICATION OF PROJECT FINANCING. The Issuer has heretofore and does hereby authorize the Corporation, in accordance with the provisions of the Act and subject to the terms and conditions set forth in the Loan Agreement to provide for the financing of the Project by such means as shall be available to the Corporation and in the manner determined by the Corporation; and the Issuer hereby ratifies, affirms, and approves all actions heretofore taken by the Corporation consistent with and in anticipation of such authority. ARTICLE TWO BONDS 2.1. AUTHORIZED AMOUNT AND FORM OF BONDS. The Bonds issued pursuant to this Bond Resolution shall be in substantially the form set forth on Exhibit A attached hereto, with such appropriate variations, omissions and insertions as are permitted or required by this Bond Resolution, and in accordance with the further provisions hereof; and the total principal amount ofthe Bonds that may be outstanding hereunder is expressly limited to $2,400,000, unless a duplicate Bond is issued pursuant to Section 2.7. 2.2. THE BOND TERMS. The Bonds shall be issued as a single series, dated as of the date of delivery, shall be payable at the times and in the manner, shall bear interest at the rates, and shall be subject to redemption and such other terms and conditions as are set forth therein. 2.3. MODIFICA TION OF BONDS; EXECUTION. The Bonds in the form set forth in Exhibit A, together with such additional details therein as may be necessary and appropriate and such modifications thereof, deletions therefrom and additions thereto as may be necessary and appropriate and approved by Bond Counsel and the Corporation prior to the execution thereof, is hereby approved; provided that in no event may the true interest rate on the Bonds exceed 6.00% per annum, nor may the principal amount of the Bonds exceed $2,400,000. The Bonds shall be executed on behalf of the Issuer by the manual or facsimile signatures of the Chair of the Board of County Commissioners and County Auditor. In case any officer whose signature shall appear on the Bonds -2-