Resolution of Members or Stockholders

Position 5

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

FORM APPROVED
OMB NO. 0572-0121

UNITED STATES DEPARTMENT OF AGRICULTURE
RURAL DEVELOPMENT

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.

3.

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.
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
of the above named Association, hereby

I, the undersigned, as
(Secretary) (Acting Secretary)
certify that said Association on the

day of

,

, had
(Number)
of these

; that
(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

,

said members

that the foregoing resolution was adopted at such meeting by the affirmative vote of
or stockholders or shares of voting stock; and that said resolution has not been rescinded or amended in any way.
Dated this day

,

of

;

.

Secretary of
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