SECTION 200:20-5-5. Authority final action

  Subsequent to inducement action, the project shall be placed upon the Authority's agenda for a regular (or special) Authority meeting and shall be considered for final action. Upon final approval of a project, the Authority may adopt a final resolution authorizing and approving:

(1)   The Trustees executing and delivering an indenture of mortgage and loan agreement with the applicant for the purpose of financing the project;

(2)   The issuance, sale and delivery of bonds, notes or other evidences of indebtedness to finance the cost of acquiring, constructing, furnishing and equipping the project of the applicant; and

(3)   The Trustees executing and delivering such instruments, agreements, certifications and other documents as might be necessary to accomplish the financing of the project.

(4)   Setting a date by which a bond purchase agreement or similar agreement shall be executed and put into effect, which date may be subsequently extended by action of a majority of Trustees.