RESOLUTION ALLOCATING SOUTH HAVEN COMMUNITY HOSPITAL AUTHORITY HOSPITAL REVENUE BONDS, SERIES 2007

Minutes of a regular meeting of the Township Board of the Township of Columbia,

Van Buren, Michigan, held in said township on the 15th day of May, 2007, at 7 o’clock p.m., Eastern Time.

PRESENT: Members Bradford, Burgett, Fogarty, Hurley, Harrington.

ABSENT: Members None

The following preamble and resolution were offered by Member Burgett and supported by Member Fogarty.

WHEREAS, the Township Board of the Township of Columbia (the "Township") has been informed that the South Haven Community Hospital Authority (the "Authority"), a public corporation organized and existing under authority of Act 47, Public Acts of Michigan, 1945, as amended, of which the Township is a constituent member, intends to make certain improvements to its facilities; and

WHEREAS, the Authority proposes to issue its Hospital Revenue Bonds, Series 2007 (the "Bonds") to finance the cost of said improvements; and

WHEREAS, it is reasonable and necessary to allocate the principal amount of the Bonds among the members of the Authority for purposes of Section 265 (b)(3)(C)(iii) of the Internal Revenue Code of 1986, as amended.

NOW THEREFORE, BE IT RESOLVED THAT:

1. The Bonds in the principal amount of $4,500,000 be and is hereby allocated among the members of the Authority as set forth in Exhibit A attached thereto and made part

hereof.

    1. All resolutions and parts of resolutions insofar as they conflict

with the provisions of this resolution be and the same hereby are rescinded.

 

AYES: Members Bradford, Burgett, Fogarty, Hurley, Harrington.

NAYS: Members None

RESOLUTION DECLARED ADOPTED.