RESOLUTION OF BOARD OF DIRECTORS FORM — (updated Sept. 2015)
Economic Development Bank 1 of 2 Rev 9/2015 Resolution of Board of Directors Form ECONOMIC DEVELOPMENT BANK RESOLUTION OF BOARD OF DIRECTORS OF __________________________________________ (Name of Applicant) (1) RESOLVED, that the officers of this corporation named below, or any one of them, or their, or any one of their, duly elected or appointed successors in office, be and they are hereby authorized and empowered in the name and on behalf of this corporation and under its corporate seal to execute and deliver to the Economic Development Authority (hereinafter called “EDA”) in the form required by EDA, the following documents: (a) application for a loan or loans, the total thereof not to exceed in the principal amount $____________________, maturing upon such date or dates and bearing interest at such rate or rates as may be prescribed by EDA; (b) applications for any renewals or extensions of all or any of such loan or loans and of any other loans, heretofore or hereafter made by EDA to this corporation; (c) the promissory note or notes of this corporation evidencing such loan or l …
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Economic Development Bank 1 of 2 Rev 9/2015 Resolution of Board of Directors Form ECONOMIC DEVELOPMENT BANK RESOLUTION OF BOARD OF DIRECTORS OF __________________________________________ (Name of Applicant) (1) RESOLVED, that the officers of this corporation named below, or any one of them, or their, or any one of their, duly elected or appointed successors in office, be and they are hereby authorized and empowered in the name and on behalf of this corporation and under its corporate seal to execute and deliver to the Economic Development Authority (hereinafter called “EDA”) in the form required by EDA, the following documents: (a) application for a loan or loans, the total thereof not to exceed in the principal amount $____________________, maturing upon such date or dates and bearing interest at such rate or rates as may be prescribed by EDA; (b) applications for any renewals or extensions of all or any of such loan or loans and of any other loans, heretofore or hereafter made by EDA to this corporation; (c) the promissory note or notes of this corporation evidencing such loan or loans or any renewals or extensions thereof; an (d) any other instruments or agreements of this corporation therefore, and may receive and endorse in the name of this corporation any checks or drafts representing such loan or loans or any such installments; (2) FURTHER RESOLVED, that the aforesaid officers or any one of them or their duly elected or appointed successors in office, be and they are hereby authorized and empowered to do any acts, including but not limited to the mortgage, pledge, or hypothecation from time to time with EDA of any or all assets of this corporation to secure such loan or loans, renewals and extensions, and to execute in the name and on behalf of this corporation and under its corporate seal or otherwise, any instruments or agreements deemed necessary or proper by EDA, in respect of the collateral securing any indebtedness of this corporation; (3) FURTHER RESOLVED, that any indebtedness heretofore contracted and any contracts or agreements heretofore made with EDA on behalf of this corporation, and all acts of officers or agents of this corporation in connection with said indebtedness or said contracts or agreements, are hereby ratified and confirmed; (4) FUTHER RESOLVED, that the officers referred to in the foregoing resolutions are as follows; _____________________________ ___________________ __________________________ (Type or print name) (Title) (Signature) _____________________________ ___________________ __________________________ (Type or print name) (Title) (Signature) _____________________________ ___________________ __________________________ (Type or print name) (Title) (Signature) SIGN SIGN SIGN Economic Development Bank 2 of 2 Rev 9/2015 Resolution of Board of Directors Form _____________________________ ________________________ __________________________ (Type or print name) (Title) (Signature) _____________________________ ________________________ __________________________ (Type or print name) (Title) (Signature) (5) FURTHER RESOLVED, that the EDA is authorized to rely upon the aforesaid resolutions until receipt of written notice of any change. CERTIFICATION I HEREBY CERTIFIED that the foregoing is a true and correct copy of a resolution regularly presented to and adopted by the Board of Directors of _________________________________________________ at (Name of Applicant) _______________________________ on the ________ day of ____________________, 20____, at which a quorum was present and voted, and that such resolution has been duly recorded in the minute book of this corporation; that the officers named in said resolution have been duly elected or appointed to, and are the present incumbents of, the respective offices set after their respective names; and that the signatures set opposite their respective names are their true and genuine signatures. (Seal) ____________________________________ Secretary SIGN SIGN