7200 AUTHORIZING THE FINANCING OF INDUSTRIAL FACILITIES (ECONOMIC DEVELOPMENT REVENUE BONDS, SERIES 1976)

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-2- enter into a loan agreement with the Company upon terms which will produce revenues and receipts sufficient to provide for the prompt payment at maturity of the principal, interest and redemption premiums, if any, on such revenue bonds, all as set forth in the details and provisions of the Agreement hereinafter identified; and WHEREAS, it is necessary and proper for the interests and convenience of the Issuer and its inhabitants to authorize the financing of the Project, and the same is a matter pertaining to the government and affairs of the Issuer; and WHEREAS, it is necessary to authorize the execution of a loan agreement between the Issuer and the Company, under the terms of which the Issuer will loan the proceeds of the sale of such revenue bonds to the Company to enable it to acquire and install the Project, the payments to be paid by the Company to the Issuer in repayment of the loan to be sufficient to pay at maturity or by reason of sinking fund redemption the principal, interest and redemption premiums, if any, on the revenue bonds hereinafter authorized; and WHEREAS, it is necessary for the Issuer to execute and deliver a Trust Indenture to The Millikin National Bank of Decatur, as Trustee (the "Trustee") , for the bondholders pursuant to which the said revenue bonds will be issued; and WHEREAS, it is necessary to authorize the sale of said revenue bonds and to execute an Agency Agreement, and delivery of a Placement Memorandum in connection therewith; and WHEREAS, the Issuer has caused to be prepared and presented to this meeting the following documents, which the Issuer proposes to enter into: 1. The form of Agreement dated as of December 1, 1976, between the Issuer and the Company (the "Agreement") ; 2. The form of Trust Indenture dated as of December 1, 1976, between the Issuer and the Trustee, setting forth terms, conditions and security