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attest and affix the seal of the Authority to, the final form of <br />the Lease Agreement for and in the name and on behalf of the <br />Authority. The Commission hereby authorizes the delivery and <br />performance of the Lease Agreement. <br /> <br /> Section 5. Sale of Bonds. The Commission hereby <br />approves the sale of the Bonds by negotiation with the <br />Underwriter, pursuant to the Purchase Contract in substantially <br />the form on file with the Secretary, together with such additions <br />thereto and changes therein as the Authority Attorney shall deem <br />necessary, desirable or appropriate, the execution of which by the <br />Executive Director shall be conclusive evidence of the approval of <br />any such additions and changes. The Purchase Contract shall be <br />executed in the name and on behalf of the Authority by the <br />Executive Director, who is hereby authorized and directed to <br />execute and deliver said form of Purchase Contract on behalf of <br />the Authority upon submission of a proposal by the Underwriter to <br />acquire the Bonds; provided, however, that such proposal is <br />acceptable to the Executive Director and is consistent~ with the <br />requirements of this Resolution. The amount of Underwriter's <br />discount shall be not more than two percent (2%) of the par amount <br />thereof and the net effective rate of interest to be represented <br />by the Bonds (taking into account any original issue discount on <br />the sale thereof) shall not exceed eight percent (8%) per annum. <br /> <br /> Section 6. Official Statement. The Commission hereby <br /> approves the preparation of, and hereby authorizes the Chairman to <br /> deem final within the meaning of Rule 15c2-12 of the Securities <br /> Exchange Act of 1934 except for permitted omissions, a preliminary <br /> <br /> -5- <br /> <br /> <br />