Charter Township of Delhi, Ingham County, Michigan (the "Township").

A regular meeting of the Township Board of Trustees (the "Board") of the Township was held in the __________________________________________________, on Tuesday, the 21st day of February, 2012, at ____________ o'clock in the evening. Present: Absent: Board Members Board Members

The following preamble and resolution were offered by Board Member _______________ and supported by Board Member ________________: WHEREAS: 1. This Board has previously adopted a resolution of intent to issue bonds to finance a portion of the cost of the project described in Exhibit A (the "Project") through the issuance of bonds by the Township, and now desires to put the question of issuing such bonds before the registered electors of the Township; and 2. This Board estimates the necessary cost of the Project to be $5,500,000, of which a portion of the Project cost will be paid through Township funds on hand and an S2 grant from the Michigan Department of Environmental Quality in the amount of $421,554, with the remaining portion of the Project cost being financed through the issuance of bonds by the Township; and 3. The Township will seek to issue the proposed bonds through the MDEQ's Clean Water State Revolving Loan Fund, administered through the Michigan Finance Authority, which makes funds available for municipal water supply and sewer disposal system improvement projects at a below-market interest rate (currently 2.50% per annum); and 4. The proposed bonds are further eligible for 50% principal forgiveness through a Michigan Department of Environmental Quality ("MDEQ") Green Project Reserve program; and 5. It will be necessary for the Township to borrow the sum of not to exceed Five Million One Hundred Thousand Dollars ($5,100,000) and issue its limited tax general obligation revenue bonds therefor pursuant to Act 94, Public Acts of Michigan, 1933, as amended ("Act 94"), and Act 34, Public Acts of Michigan, 2001, as amended, to finance a portion of the Project cost; and 6. Pursuant to Act 94, before the Township may issue the proposed bonds, the question of issuing the bonds must be approved by the vote of a majority of the electors of the Township qualified to vote and voting on the bonds at an election; and 7. This Board intends to submit a proposition regarding the proposed bonds at the election to be held on Tuesday, May 8, 2012; and


8. On or before 4:00 p.m. on Tuesday, February 28, 2012, the Board shall certify any ballot proposition to be submitted to the voters at the May 8, 2012 election. NOW, THEREFORE, BE IT RESOLVED THAT: 1. 2012. 2. The proposition to be voted on at the election shall be stated on the ballots in substantially the form as set forth in Exhibit A. 3. All resolutions and parts of resolutions insofar as they conflict with the provisions of this resolution be and the same are hereby rescinded. Ayes: Board Members Nays: Board Members Resolution declared adopted. Evan Hope, Clerk Charter Township of Delhi The undersigned duly qualified and acting Clerk of the Charter Township of Delhi, County of Ingham, State of Michigan, hereby certifies that the foregoing is a true and complete copy of a resolution adopted by the Township Board at a regular meeting held on Tuesday, February 21, 2012, the original of which resolution is a part of the Township Board's minutes, and further certifies that notice of the meeting was given to the public under the Open Meetings Act, 1976 PA 267, as amended. An election of the electors of the Township be called and held on Tuesday, May 8,

Evan Hope, Clerk Charter Township of Delhi MDG/djp