Minutes - 25

24

Authority to
President to
sell $7,500,000
Preferred Stk

Thereupon the following resolution was presented seconded
and unanimously adopted.

Resolved: the President be and he is hereby authorized to sell
$7,500,000 of the preferred stock of the Company at not less
than par and to select such agent or agencies to make sales
as he may deem proper

Thereupon on motion the Board of Directors adjourned, subject
to call by proper authority

Secretary President