05-11-2015 EDA Packet - Laserfiche WebLink

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4. Paying Agent. There has been presented before the Board a form of Paying Agent Agreement, to be dated on or after June 1, 2015 (the “Paying Agent Agreement”), between the Authority and U.S. Bank National Association, as paying agent (the “Paying Agent”). Pursuant to the Paying Agent Agreement, the Paying Agent will agree to perform the duties as paying agent and bond registrar for the Bonds. 5. Authorization of Documents. (a) The President and Executive Director are authorized and directed to execute and deliver the Ground Lease, the Lease, and the Paying Agent Agreement on behalf of the Authority, substantially in the forms on file with the Authority, but with all such changes therein as shall be approved by the officers executing the same, which approval shall be conclusively evidenced by the execution thereof. Copies of all of the transaction documents shall be delivered, filed and recorded as provided therein. The President, Executive Director, and other Authority officers are also authorized and directed to execute such other instruments as may be required to give effect to the transactions herein contemplated. (b) The officers of the Authority are authorized and directed to prepare and furnish to the original purchaser of the Bonds, and to the attorneys approving the Bonds, certified copies of all proceedings and records of the Authority relating to the power and authority of the Authority to enter into the Ground Lease, the Lease, and the Paying Agent Agreement within their knowledge or as shown by the books and records in their custody and control, and such certified copies and certificates shall be deemed representations of the Authority as to the facts stated therein. Adopted by the Board of Commissioners of the Lino Lakes Economic Development Authority this 11th day of May, 2015. President ATTEST: Executive Director 2 460962v1 JAE LN140-112