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'~~„~-02'~~ D 3 a <br />~-i~ .~~~ <br />~~ <br />REIMBURSEMENT RESOLUTION - <br />THE OFFICE BUILDING AND LIBRARY PROJECT <br />WHEREAS, the Manager has described to the Board the desirability of <br />adopting a resolution, as provided under federal tax law, to facilitate the County's using <br />proceeds of tax-exempt financing to restore the County's funds when the County makes <br />capital expenditures prior to closing on the fmancing. <br />BE IT RESOLVED by the Board of Commissioners of Orange County, <br />North Carolina, as follows: <br />Section 1. The project is the acquisition, construction and equipping of a <br />new County office building and library as outlined in an Agreement for Purchase and <br />Sale of the Office Building and the Library approved by the Boazd of County <br />Commissioners on January 15, 2008. <br />Section 2. The County intends to finance the project. The expected type <br />of financing (which is subject to change) is installment financing pursuant to Section <br />160A-20 of the General Statutes. The expected maximum amount of bonds or other <br />obligations to be issued or contracted for the project is $17,939,079. <br />Section 3. The County intends that funds that have been advanced, or <br />may be advanced, from the County's general fund for project costs will be reimbursed <br />from the financing proceeds. <br />Section 4. The County intends that the adoption of this resolution will be <br />a declazation of this 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 <br />Boazd of Commissioners of Orange County, North Cazolina, duly called and held on <br />April 15, 2008, and that a quorum was present and acting throughout such meeting. Such <br />resolution remains in full effect as of today. <br />Dated this ~~ day of April, 2008. <br />{SEAL] <br />~'p ~x'i~"9v'~`tii <br />C~ ~ ~ P i ti =' .d <br />0~1 <br />Donnpa Baker <br />Clerk, Boazd of Commissioners <br />Orange County, North Cazolina <br />