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Resolution No. 50-2016 - Authorizing Borrowing by a Tax and Revenue Anticipation Note

A RESOLUTION AUTHORIZING A BORROWING IN AN AMOUNT NOT TO EXCEED $6,000,000 IN ANTICIPATION OF CURRENT TAXES AND REVENUES AND THE ISSUANCE OF A TAX AND REVENUE ANTICIPATION NOTE; ESTABLISHING THE FORM OF SUCH NOTE; APPROVING AND ACCEPTING A PROPOSAL OF FIRST NATIONAL BANK OF PENNSYLVANIA TO PURCHASE THE NOTE AND AUTHORIZING THE NEGOTIATED SALE THEREOF TO SAID BANK; AUTHORIZING AND DIRECTING CERTAIN OFFICIALS TO DELIVER A CERTIFICATE AS TO TAXES AND REVENUES TO BE COLLECTED, TO CAUSE TO BE MADE THE FILINGS REQUIRED BY LAW, TO EXECUTE AND DELIVER THE NOTE, AND TO TAKE SUCH OTHER ACTIONS AS MAY BE NECESSARY OR DESIRABLE.