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RES-2009-065 Reimbursement Resolution - Solid Waste Transfer Station Project
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RES-2009-065 Reimbursement Resolution - Solid Waste Transfer Station Project
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Last modified
5/13/2011 9:46:38 AM
Creation date
9/25/2009 4:36:09 PM
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Template:
BOCC
Date
9/1/2009
Meeting Type
Regular Meeting
Document Type
Resolution
Agenda Item
6a
Document Relationships
Agenda - 09-01-2009 - 6a
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\Board of County Commissioners\BOCC Agendas\2000's\2009\Agenda - 09-01-2009
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A-N~ach,men-t~ ~- ~E. S - aoo~ - oc~s <br />~~ <br />~~ <br />Reimbursement Resolution -- Solid Waste Transfer Station Proiect <br />WHEREAS, the Manager and the Finance Officer have described to the Board <br />the desirability of adopting a resolution, as provided under federal tax law, to facilitate <br />the County's using proceeds of tax-exempt financing to restore the County's funds when <br />the County makes capital expenditures prior to closing on the financing. <br />BE IT RESOLVED by the Board of Commissioners of Orange County, <br />North Carolina, as follows: <br />Section 1. The project is site acquisition and development of a solid <br />waste transfer station. <br />Section 2. The County intends to fmance the project. The expected type <br />of financing (which is subject to change) is installment financing under Section 160A-20 <br />of the General Statutes or special obligation revenue bonds under Chapter 159I of the <br />General Statutes. The currently expected maximum amount of bonds or other obligations <br />to be issued or contracted for the project is $6,000,000, although the total amount <br />ultimately financed for the project may be higher or lower. <br />Section 3. The County intends that funds that have been advanced, or <br />may be advanced, from the County's general fund, the solid waste enterprise fund or any <br />other County fund for project costs will be reimbursed from the financing proceeds. <br />Section 4. The County intends that the adoption of this resolution will be <br />a declaration of the County's official intent to reimburse project expenditures from <br />financing proceeds. <br /> <br />I certify that the foregoing resolution was duly adopted at a meeting of the Board of <br />Commissioners of Orange County, North Carolina, duly called and held on September 15, <br />2009, and that a quorum was present and acting throughout such meeting. Such resolution <br />remains in full effect as of today. <br />Dated this day of September, 2009. <br />[SEAL] <br />Donna S. Baker <br />Clerk, Board of Commissioners <br />Orange County, North Carolina <br />
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