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RESOLUTION NO. 74-84 <br /> A RESOLUTION AUTHORIZING THE EXECUTION OF A <br /> MEMORANDUM OF AGREEMENT (AAR CORP. PROJECT) <br /> WHEREAS, AAR Corp. , a Delaware corporation authorized to <br /> do business in the State of Illinois (the "Company") , wishes to <br /> finance the expansion of an existing commercial facility together <br /> with the acquisition and installation of equipment therein and <br /> improvements thereto and wish to have the Village of Elk Grove <br /> Village, Illinois (the "Issuer" ) issue its revenue bonds to <br /> finance such acquisition 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 to <br /> the provisions of such Agreement, to issue its revenue bonds to <br /> finance such acquisition and equipping; <br /> N041, THEREFORE, BF IT RF,SOLVF.D BY THF 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 the Company in <br /> substantially the form of such agreement appended to this Resolution <br /> as Exhibit A. <br /> SECTION 2. That the officers and employees of the Issuer <br /> are hereby authorized to take such further action as is necessary <br /> to carry out the intent and purposes of the Memorandum of Agreement <br /> as executed and to issue not to exceed $2, 200,000 of its revenue <br />