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2A4 re n r` ~~ ~l~~Ue:~a WHEREAS, the execution and delivery of this Indenture and the issuance of the Bonds undP:_ ':.he Act have been in all respects duly and validly authorized by a Resolution of the Governing Body of the Issuer, duly adopted and approved on December 8, 1981; WHEREAS, the Governing Body has considered reports, information, data and materials respecting the fair market value of the Project, the need and desirability of the Project, the financing of the Project through the issuance of industrial develol.nent revenue bonds under the Act, the financial stability, credit standing, stature in the industry and the qualifications and experience of k'~e Company and the Sublessee, the desirability of the Issuer's leasing the Project to the Company, the Company's subleasing the Project to the Sublessee, and other matters as required under the Act; WHEREAS, the Governing Body has determined that the acquisition and construction of the Project and its financing by the Issuer through the issuance of industrial development revenue bonds pursuant to the Act, will promote industry and develop trade, and will help secure and maintain a balanced and stable economy in all parts of this state; WHEREAS, the Governing Body has further found and determined that the Company and the Sublessee are financially responsible and fully capable and willing to fulfill their obligations under the Lease and the Sublease, including the obligation to pay rent in the amounts and at the time required, the obligation to operate, repair and maintain at their own expense the Project, and to serve the purposes of the Act and fulfill such other responsibilities as may be imposed under the Lease; WHEREAS, the Governing Body has determined that it is desirable and in the public interest to lease, in accordance with the Act, the Project to the Company and for the Company to Sublease the Project to the Sublessee, there has beer_ duly executed by the Issuer, as Lessor, and by the Company, as Lessee, the Lease, leasing the Project to the Company; WHEREAS, the Company and the Sublessee have duly executed the Sublease, thereby subleasing the Project to the Sublessee; WHEREAS, the Governing Body has further found and determined that the provisions of the Lease and the Sublease are in conformity with the Act and are necessary and convenient to effectuate the purposes of the Act, and the Lease provides for the operation, repair and maintenance of the Project at the expense of the Company and obligates the Company to pay rent under the Lease, consisting of (i) Basic Rent, as therein defined, which shall be an amount sufficient for the payment in full of the industrial 3 l._.