SAMPLE BOARD RESOLUTION

SAMPLE BOARD RESOLUTION BOARD RESOLUTION REQUESTING GUARANTEED FEDERAL FINANCING BANK (FFB) LOAN WHEREAS, it has been determined on the basis of the current Construction Work Plan that financing is needed for electric facilities as shown on RUS Form 740c, Cost Estimates and Loan Budget for Electric Borrowers, as follows: RUS Guaranteed Federal Financing Bank (FFB) Loan Requested for Facilities [$ ] NOW THEREFORE BE IT RESOLVED, that [insert name of borrower] makes application to the Rural Utilities Service pursuant to 7 CFR Part 1710 for a guaranteed FFB loan in the approximate amount of [$ ] to be used in accordance with the provisions of 7 CFR Part 1710 to finance the above mentioned facilities. BE IT ALSO RESOLVED, that the RUS guaranteed FFB loan shall bear a maturity date to cover an approximate period of [insert the term of the loan] . BE IT ALSO RESOLVED, that the Board of Directors of [insert name of borrower] authorizes its officers to execute and attest all necessary papers, documents, and applications related to the foregoing. BE IT FURTHER RESOLVED, that [title(s) of corporate official(s) authorized, and any official(s) authorized to act in such corporate position(s) and to perform the functions of such positions(s)] (is/are) authorized on behalf of the Borrower (a) to execute and deliver from time to time advance requests, maturity extension election notices, prepayment election notices and refinancing election notices, in the form of such instruments attached to the note payable to FFB, and (b) to specify information and select option as provided in such instruments. BE IT FURTHER RESOLVED, that the (insert name of applicant) hereby authorizes the RUS to release appropriate information and data relating to the application to the FFB and any existing supplemental lenders. I, [insert applicable name], Secretary of [insert name of borrower], do hereby certify that the above is a true and correct copy of a resolution adopted at the meeting of the Board of Directors of [insert name of borrower] on [insert date], at which a quorum was present and voted. SEAL [insert applicable name], Secretary