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USDA-FmtIA <br />Form FmHA 4'42-47 LOAN RESOLUTION <br />Rev. 2-5-811 (Public Bodies) <br /> County Con,missioners <br /> A RESOLUTION' OF 'Fl-IH <br /> <br /> COUNTY OF CABARRUS <br /> OFTHE <br /> AlffHORIZING AND PROVIDING FOR TIlE [NCURRENCE OF INDEBTEDNESS FOR THE PURPOSE OF PRO. <br /> VIDING -\ PORTION OF THE COST OF ACQUIRING, CONSTRUCTING. ENLARGING, IMPROVING, AND/OR <br /> <br /> EXTENDING ITS Water Service Facilities <br /> <br /> PAC]L~TY TO SERVE :\N AREA LAWFULLY W]TII[N ~TS JURISDICTION TO SERVE. <br /> <br /> COU~rY GF CA-nARRUS <br />WIIEREAS. s ecessarv for the <br /> <br />tt~erein after called associalion) to raise a portion of the cost of such undertaking by issuance of its bonds in the principal <br /> Five Million Five Hundred Seventy-Four Thousand Dollars (5,574,000.00) <br /> <br />Act [7 U.S.C. 1921 ct seq.) in tile planning, financing, and supervision of such undertaking and to purchasing of bonds <br />NOW TIIEREFORE ill co s dera io of lie premises the association hereby resolves: <br /> <br /> any time il shall appear to the Government that tire association is able to refinance its bonds by obtaining a loan <br /> <br /> similar purposes and periods of tbne as required by section 333(c) of said Consolidated Fi~rm and Rura'l Develop- <br /> merit Act (7 U.S.C. 1953(c)). <br /> 3. To pro¥ide for, execute, ~nd comply witb Form FmHA 400-~, "Nondiscrimination Agreement"; and Form <br /> FmHA 400-1. "Equal Opportunity Agreement", including an "Equal Opportunity Clause", ',vbiclt clanse is to be <br /> <br /> SI0.000. <br /> 4~ To ii dc m fy die Government for an:,, paymenls made or losses suffered by the Govarnment on behalf of the <br /> association. Such indemnification shall be payable fiom the same soume of fuuds pledged to pay the bonds or <br /> <br /> immediately due and payable, (b) for tim account of tim association (payable from the source of funds pledged <br /> of default, and/or (c) take possessioo of the facility, repair, maintain, and operate or rent it. Dcfault under tire <br /> <br /> ;,.'ilh the facility (exclusive of normal maintenance) without the prior written consent of thc Government if such <br /> underlaking would involve die source of funds pledged to pa:,' the bonds. <br /> <br /> 9. To comply v.,itb all applicable State and Federal laws and regulations and.to continually operate and maintain the <br /> <br /> <br />