Official Action. The Authority represents that on December 10, 1996 and September 10, 1997, the Authority adopted its resolutions (the "INDUCEMENT RESOLUTIONS") stating its findings as to the public benefits of the Project and its intention to issue its industrial development revenue bonds to assist in the financing of the Project. The Inducement Resolutions state the Authority's intent to issue revenue bonds for the purpose of financing the Project. The Inducement Resolutions were intended to constitute a declaration of official intent by the Authority within the meaning of Sections 1.1150-2 and 1.103-8(a)(5) of the Treasury Regulations.
Appears in 2 contracts
Sources: Tax Certificate and Regulatory Agreement (Intracel Corp), Tax Certificate and Regulatory Agreement (Intracel Corp)