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<br />(Z,OO()SSl9 <br /> <br />RESOLUTION NO. Cill..:..O 105 <br /> <br />A RESOLUTION AUTHORIZING THE ISSUANCE OF VARIABLE RATE <br />DEMAND INDUSTRIAL DEVELOPMENT REVENUE BONDS OF THE <br />COUNTY OF HALL, NEBRASKA IN THE PRINCIPAL AMOUNT OF <br />THREE MILLION DOLLARS ($3,000,000) WITH THE PROCEEDS TO BE <br />USED TO ACQUIRE, CONSTRUCT AND EQUIP A MANUFACTURING <br />F ACILI~YTO BE LEASED TO GLOBAL INDUSTRIES,INC.; APPROVING <br />AND AUTHORIZING EXECUTION OF AN INDENTURE OF TRUST, <br />LEASE AGREEMENT, TAX REGULATORY AGREEMENT, DEED OF <br />TRUST AND CONSTRUCTION SECURITY AGREEMENT, BOND <br />PURCHASE AGREEMENT AND RELATED DOCUMENTS; MAKING <br />FINDINGS AND DETERMINATIONS WITH REFERENCE TO THE <br />BONDS; AUTHORIZING THE SALE AND DELIVERY OF THE BONDS; <br />PROVIDING THAT THE INVALIDITY OF ANY PART OF TillS <br />RESOLUTION SHALL NOT AFFECT THEREMAlNDER; AUTHORIZING <br />THE EXECUTION AND DELIVERY OF RELATED DOCUMENTS; <br />REPEALING ALL RESOLUTIONS OR PORTIONS THEREOF IN <br />CONFLICT HEREWITH AND PROVIDING FOR THE EFFECTIVE DATE <br />OF TillS RESOLUTION. <br /> <br />WHEREAS, the County of Hall, Nebraska (the "County") is a duly organized and <br />existing county under the Constitution and laws of the State of Nebraska (the "State"); and <br /> <br />WHEREAS, the County is authorized by Neb. Rev. Stat. 913-1101 et seq., as <br />amended (the "Act"), to issue, sell and deliver its revenue bonds and to use the proceeds thereoffor <br />the purpose of financing manufacturing facilities and to secure payment of such revenue bonds as <br />therein provided, all in accordance with the provisions of the Act; and <br /> <br />WHEREAS, the need for increased economic activity and increased tax base exists <br />in the County of HaIl, Nebraska, and the County desires to cause to be p~ovided manufacturing <br />facilities in the County; and <br /> <br />WHEREAS, the County is authorized and empowered by law, including the Act, to <br />issue obligations and to provide funds to enable- acquisition, construction and equipping of <br />manufacturing facilities; and <br /> <br />WHEREAS, the County has deemed it necessary and advisable for the promotion <br />of the public health, welfare, safety, convenience and prosperity of the citi~ens of the State of <br />Nebraska, and in order to stimulate increased economic activity and increased tax base to issue bonds <br />for such purposes; and <br /> <br />WHEREAS, Global Industries, Inc. (collectively the" Company"), has requested that <br />the County issue revenue bonds and use the proceeds thereof to acquire, construct and equip a <br />manufacturing facility (the "Project") to be leased to Company; and <br />