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Authorize Sale/Lease Back
RESOLUTION:
AUTHORIZE SALE AND LEASEBACK
WHEREAS, it is advisable for the Corporation to raise capital through a sale/leaseback of certain of its assets; be it
RESOLVED, that the Corporation sell the following property:
[Description of Property] to [Buyer] for the price of $ [Amount of Money] U.S. Dollars and that concurrently the Corporation execute a lease for said property for a period of [Number of Years] years at a net annual rental not to exceed [Percentage] % of the sales price, all in accordance with generally prevailing sales/leaseback terms.
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