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THE COUNTY OF HALL, NEBRASKA RESOLUTION NO. ()(j -DD L{.<g F20000247 A RESOLUTION DECLARING THE INTENTION OF THE COUNTY OF HALL TO ISSUE INDUSTRIAL DEVELOPMENT REVENUE BONDS OF THE COUNTY OF HALL IN AN AMOUNT NOT TO EXCEED FOUR MILLION DOLLARS TO FINANCE A PORTION OF mE COSTS TO ACQUIRE CONSTRUCT AND EQUIP A MANUFACTURING FACILITY FOR THE USE OF GLOBAL INDUSTRIES, INC. WHEREAS, the County of Hall, State of Nebraska (the "County") is duly organized and existing as a County under the Constitution and laws of the State of Nebraska and is authorized and empowered by the provisions of the Nebraska Industrial Development Act, Chapter 13, Article 11, Nebraska Revised Statutes, as amended (the "Act"), to issue its industrial development revenue bonds for the purpose of financing the costs of acquiring, constructing and equipping of "proj ects," as that term is defined in the Act; and ' WHEREAS, the County has been requested to issue and sell its industrial development revenue bonds pursuant to the provisions of the Act for the purpose of paying a portion of the costs to acquire, construct and equip a manufacturing project, consisting of an approximately 60,000 square foot building and equipment for the manufacture of commercial and farm equipment, for the use of Global Industries, Inc. (the "Borrower') located at 2928 East Highway 30 in Grand Island, Hall County, Nebraska (the "Project"); and WHEREAS, it is deemed necessary and advisable that the County take such action as may be required under the Act to authorize and issue its revenue bonds in order to promote, develop and advance the general prosperity and economic welfare of the people of Nebraska; and WHEREAS, the Board of Supervisors of the County wishes to declare its intention to authorize an issue of industrial development revenue bonds of the County qualifying under Section 144( a)(I) of the Internal Revenue Cod~ of 1986, as amended, for the purpose of paying a portion of the costs of acquiring, constructing and equipping the Project, when so requested by the Borrower, upon such terms and conditions as may then be agreed by the County, the Borrower and the purchasers of the bonds. NOW, mEREFORE, BE IT RESOLVED ByrnE BOARD OF SUPERVISORS OF HALL COUNTY, NEBRASKA: 1. That the County does hereby declare its intention to authorize the issuance of industrial development revenue bonds of the C01,!Ilty under and in accordance with the applicable statutes of the State of Nebraska, and particularly the Act, in such amounts, but not to exceed $4,000,000, and upon such terms and conditions as may be agreed upon by the County, the Borrower and the purchasers of the bonds, for the purpose of paying a portion of the costs to acquire, construct and equip the Project 2. That the issuance of such bonds shall be authorized by resolution of the Board of Supervisors at a meeting to be held for such purpose after a public hearing at which comment from the public shall be invited, subject to (i) the receipt of an agreement on the part of the Borrower to indemnify the County for any claims against the County in connection with the proposed bond issue, (ii) the