HomeMy Public PortalAbout100_020_Resolution for GEFA Loan EXHIBIT F
EXTRACT OF MINUTES
RESOLUTION OF GOVERNING BODY
Recipient: CITY OF TYBEE ISLAND
Loan Number: 2013L35WJ
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At a duly called meeting of the governing body of the Borrower identified above
(the "Borrower") held on the day of , the following resolution was
introduced and adopted.
WHEREAS, the governing body of the Borrower has determined to borrow but
not to exceed $1,695,000 from the Georgia Environmental Finance Authority (the
"Lender") to finance a portion of the costs of acquiring, constructing, and installing the
environmental facilities described in Exhibit A to the hereinafter defined Loan
Agreement (the "Project"), pursuant to the terms of a Loan Agreement (the "Loan
Agreement") between the Borrower and the Lender, the form of which has been
presented to this meeting; and
WHEREAS, the Borrower's obligation to repay the loan made pursuant to the
Loan Agreement will be evidenced by a Promissory Note (the "Note") of the Borrower,
the form of which has been presented to this meeting;
NOW, THEREFORE, BE IT RESOLVED by the governing body of the Borrower
that the forms, terms, and conditions and the execution, delivery, and performance of
the Loan Agreement and the Note are hereby approved and authorized.
BE IT FURTHER RESOLVED by the governing body of the Borrower that the
terms of the Loan Agreement and the Note (including the interest rate provisions, which
shall be as provided in the Note) are in the best interests of the Borrower for the
financing of the Project, and the governing body of the Borrower designates and
authorizes the following persons to execute and deliver, and to attest, respectively, the
Loan Agreement, the Note, and any related documents necessary to the consummation
of the transactions contemplated by the Loan Agreement.
(Signature of Person to Execute Documents) (Print Title)
(Signature of Person to Attest Documents) (Print Title)
The undersigned further certifies that the above resolution has not been repealed
or amended and remains in full force and effect.
Dated;
Secretary/Clerk
(SEAL)
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