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RESOLUTION NO. 2-84 <br />A RESOLUTION AUTHORIZING THE EXECUTION <br />OF A MEMORANDUM OF AGREEMENT (FPM ASSOCIATES/ <br />FPM HEAT TREATING, INC. PROJECT) <br />WHEREAS, FPM ASSOCIATES, a partnership (Associates) <br />and FPM HEAT TREATING, INC., an Illinois corporation (FPM), cr each <br />of them, wish to finance the construction and equipping of a new <br />manufacturing facility and wish to have the Village of E1:: Grove <br />Village, Illinois (the "Issuer") issue its revenue bonds to finan- <br />ce such construction and equipping; and <br />WHEREAS, a Memorandum of Agreement has been presented to <br />the Issuer under the terms of which the Issuer agrees, subject <br />to the provisions of such Agreement, to issue its revenue bonds <br />to finance such contruction and equipping; <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF TRUSTEES <br />OF THE VILLAGE OF ELK GROVE VILLAGE, ILLINOIS, as follows: <br />SECTION 1: That the President of the Issuer is hereby <br />authorized to execute, and the Clerk of the Issuer is hereby <br />authorized to attest a Memorandum of Agreement with Associates and <br />FPM in substantially the form of such agreement appended to this <br />Resolution as Exhibit A. <br />SECTION 2: That the officers and employees of the <br />Issuer are hereby authorized to take such further action as is <br />necessary to carry out the intent and purposes of the Memorandum <br />of Agreement as executed and to issue not to exceed $2,100,000 of <br />