RD 1942-8 Resolution of Members or Stockholders

Form RD 1942-8
(Rev. 2-98)

Position 5
UNITED STATES DEPARTMENT OF AGRICULTURE
RURAL DEVELOPMENT

FORM APPROVED
OMB NO. 0575-0015
OMB NO. 0570-NEW

RESOLUTION OF MEMBERS OR STOCKHOLDERS
____________________________________________________________________________________________________________
(Name of Association)
____________________________________________________________________________________________________________
(Address, including Zip Code)
RESOLVED, that the Governing Board of this Association be and it hereby is authorized and empowered to take all action necessary or
appropriate —
1.
To obtain for and on behalf of the Association through the United States Department of Agriculture (USDA) or any other
Governmental agency:
(a)

A loan in a sum not to exceed $ _____________________________ ;

(b) A grant in a sum not to exceed $ _____________________________ ;
to be advanced by the lender or grantor in one or more advances at such time or times as may be agreed upon.
2.

In case of a loan or grant or both —
(a) For the execution of such application or applications (including exhibits, amendments and/or supplements thereto) as may
be required;
(b) For the execution and delivery to the lender or grantor of all such written instruments as may be required in regard to or as
evidence of such loan or grant; and
(c) In its judgment to carry out the terms of this resolution.
3.

And in case of a loan —
(a) To obligate this Association for the repayment of the loan at such rates of interest and on such other terms and conditions
as the Governing Board shall deem proper;
(b) To pledge, hypothecate, mortgage, convey, or assign property of this Association of any kind and in any amount now
owned or hereafter acquired, as security for any or all obligations (past, present and/or future) of this Association to such lender; and
(c) From time to time to pay, extend, or renew any such obligations.

CERTIFICATION
I, the undersigned, as ______________________________________________________ of the above named Association, hereby
(Secretary) (Acting Secretary)
certify that said Association on the _____________________ day of _____________________ , 19 ____ , had ____________________
(Number)
_________________________________________________________________________ ; that ________________________ of these
(members) (stockholders) or (shares of voting stock outstanding)
constituted a quorum; that ______________________ said members or stockholders or shares of voting stock were present at a meeting
of the members or stockholders duly called and held on the ________________________ day of _____________________ , 19 ____ ;
that the foregoing resolution was adopted at such meeting by the affirmative vote of _____________________________ said members
or stockholders or shares of voting stock; and that said resolution has not been rescinded or amended in any way.
Dated this day ______________________________ of __________________________ ,19 ____ .
__________________________________________________
Secretary of ________________________________________
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