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4 <br /> Resolution Providing Final Approval of Terms and Agreements <br /> For County's 2009 Alternative Financing <br /> WHEREAS: <br /> The Orange County Board of Commissioners has previously determined to <br /> undertake certain capital projects (together, the "Project"), as further described below: <br /> Project Approximate Amount To Be Financed <br /> Acquisition and equipping of County $25,000,000 <br /> portion of Gateway Center, County office <br /> building and library, and library <br /> development <br /> Parks and open space projects $2,800,000 <br /> Affordable housing projects $1,400,000 <br /> Solid waste equipment $217,000 <br /> Property management information system $1,500,000 <br /> The Board has previously made a preliminary determination to finance costs for <br /> these projects by the use of an installment contract, as authorized under Section 160A-20 <br /> of the North Carolina General Statutes. <br /> The County has solicited competitive proposals from banks to provide the desired <br /> financing, and Branch Banking and Trust Company (the "Bank") has submitted the best <br /> overall proposal. <br /> BE IT RESOLVED by the Board of Commissioners of Orange County, North <br /> Carolina, as follows: <br /> 1. Determination To Proceed with Project-- The Board confirms its decision to <br /> carry out the Project. The County will carry out the Project with financing from the Bank, <br /> substantially in accordance with the financing proposal from the Bank dated March 2, <br /> 2009. <br />