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A RESOLUTION AUTHORIZING THE CITY MANAGER TO EXECUTE THE
DOCUMENTS RELATED TO THE SECOND MODIFICATION OF A PROMISSORY NOTE
AND LOAN AGREEMENT BETWEEN THE CITY OF SAVANNAH AND THE GEORGIA
ENVIRONMENTAL FINANCE AUTHORITY
WHEREAS, the Borrower has borrowed $28,470,000 from the GEORGIA
ENVIRONMENTAL FINANCE AUTHORITY (the "Lender"), pursuant to the terms of the
Loan Agreement (the "Loan Agreement"), dated FEBRUARY 23, 2015, between the
Borrower and the Lender; and
WHEREAS, the Borrower's obligation to repay the loan made pursuant to the Loan
Agreement is evidenced by a Promissory Note (the "Note"), dated JANUARY 15, 2015, of
the Borrower; and
WHEREAS, the Borrower and the Lender have determined to amend and modify
the Note and the Loan Agreement, pursuant to the terms of a Second Modification of
Promissory Note and Loan Agreement (the "Second Modification") between the Borrower
and the Lender, the form of which has been presented to this meeting;
NOW, THEREFORE, BE IT RESOLVED by the governing body of the Borrower that
the form, terms, and conditions and the execution, delivery, and performance of the Second
Modification are hereby approved and authorized.
BE IT FURTHER RESOLVED by the governing body of the Borrower that the terms
of the Second Modification are in the best interests of the Borrower, and the governing body
of the Borrower designates and authorizes the following persons to execute and deliver,
and to attest, respectively, the Second Modification, and any related documents necessary
to the consummation of the transactions contemplated by the Modification.
The undersigned further certifies that the above resolution has not been repealed or
amended and remains in full force and effect.
ADOPTED this August 1, 2019.
:M:ATYzOR AN:D ;ALD1ERME:N 1L
Mayor
~
Mark Massey
Clerk of Cou~

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CLERK OF COUNCIL CERTIFICATE
I, the undersigned Clerk of Council of the Mayor and Aldermen of the City of Savannah,
keeper of the records and seal thereof, hereby certify that the foregoing is a true and correct
copy of a resolution approved and adopted by the governing body of said political
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subdivision in public meeting assembled on August 1, 2019, the original of which resolution
has been entered in the official records of said political subdivision under my supervision
and is in my official possession, custody, and control.