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Authorize Borrowing On Line Of Credit
AUTHORIZE LOAN ON LINE OF CREDIT
WHEREAS, this Company desires to borrow money, be it
RESOLVED, that the correct officers of this Company are hereby authorized to borrow from the [Name of Bank] Bank, for and in behalf of this Company, a sum not to be more than $ [Amount of Money] U.S. Dollars on its promissory note maturing [Number of Days] days from the date hereof, to be signed by the proper officers of this Company, and to bear interest not to exceed the rate of [Percentage] % per annum, and with the additional privilege of renewing the balance of said loan at its maturity, for another period of [Number of Days] days, and the proper officers of this Company are hereby authorized and directed to sign any new or renewal note or notes required by said Bank to carry out the provisions of this resolution, which new note or notes shall bear such rate of interest as shall be agreed upon between this Company and the Bank at the time of such renewal or renewals.
The undersigned hereby certifies that [he/she] is the duly elected and qualified Secretary and the custodian of the records and books and seal of the [Name of Corporation] corporation. The undersigned also certifies that this corporation has been duly formed in accordance with the laws of [State of Jurisdiction]. Furthermore, the undersigned certifies that the foregoing is a true record of a resolution duly adopted at a meeting of the Board of Directors, and that said meeting was held in accordance with the applicable laws and the Bylaws of the [Name of Corporation] Corporation on [Date of Meeting], and that said resolution is now in full force and effect without modification or rescission.
IN WITNESS WHEREOF, I have executed my name as Secretary and have hereunto affixed the corporate seal of the [Name of Corporation] Corporation on [Date signed]
A True Record.
Attest.
Secretary