12-07-1983 Regular Meeting of La Porte City Council

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• • President is authorized and directed for and on behalf of the Board to date, sign, or otherwise execute the Indemnity Letter on behalf of the Issuer and such officers are hereby authorized to deliver the Indemnity Letter. Section 10. The President and Secretary/Treasurer are hereby each authorized and directed to execute the Bonds, or have their facsimile signatures placed upon the Bonds, and each is hereby authorized and directed to deliver the Bonds, and the seal of the Issuer is hereby authorized and directed to be affixed or placed in facsimile on the Bonds. Section 11. Allied Bank of Texas is hereby appointed as Trustee under the Indenture thereby serving as Registrar and Paying Agent under the terms of the Indenture. Section 12. The President, any Vice President, or the Secretary or any Assistant Secretary of the Board is hereby authorized to execute and deliver to the Trustee the written order of the Issuer of the authentication and delivery of the Bonds by the Trustee in accordance with the Indenture. Section 13. The officers of the Issuer (with the assistance of the User) shall prepare a final transcript of the proceedings relating to the authorization, issuance, sale, and • delivery of the Bonds, which transcript shall be submitted to the Texas Economic Development Commission within sixty (60) days after the closing date for the Bonds. Section 14. The Issuer hereby elects to have section 103(b)(6)(D) of the Internal Revenue Code of 1954, as amended, and the regulations promulgated thereunder, apply to the Bonds, and the President and the Secretary of the Issuer are hereby severally authorized and directed to execute and deliver a statement to the Internal Revenue Service to the effect that the Issuer has so elected, and to deliver a copy of such statement to the Purchaser, the Corporate Guarantor, and the User. The Board further directs that an officer of the Issuer submit to the Secretary of the Treasury., not later than the 15th day of the second calendar month after the close of the calendar quarter in which the Bonds are issued, a statement containing the information required by section 103(1) of the Code. Section 15. All action (not inconsistent with provisions of this Resolution) heretofore taken by the Board and officers of the ,Issuer directed toward the financing of the Project and the issuance of the Bonds be and the same hereby is ratified, approved, and confirmed. 5 -