Orange County NC Website
Browse       Search
6 <br />AMENDED RESOLIITION OF <br />THE COIINTY OF ORANGE, NORTH CAROLINA <br />APPROVING A FACILITIES/SERVICES AGREEMENT <br />AND RELATED MATTERS <br />WHEREAS, the County of Orange, North Carolina (the "County") is a <br />validly existing political subdivision of the State of North Carolina, <br />existing as such under and by virtue of the Constitution, statutes and laws <br />of the State of North Carolina (the "State"); - <br />- WHEREAS, the County has the power, pursuant to North Carolina General <br />Statutes, to (i) provide community activity facilities used, or to be used, <br />for public purposes and (ii) enter into contracts with respect to the <br />provision of -such facilities; <br />WHEREAS, pursuant to a certain Indenture of-Trust dated as of March <br />1, 1994 (the "Indenture"), between Orange County Community Activity <br />Corporation (the "Corporation") and First Union National Bank of North <br />Carolina, as trustee (the "Trustee"), the Corporation will issue its Orange <br />County Community Activity Center Revenue Bonds, Series 1994A and Series 1994E <br />(collectively, the "Bonds") and apply the proceeds thereof to the acquisition, <br />construction and equipping of a public ice hockey rink, two swimming pools and <br />related facilities to be located in the County (the."Project"); <br />WHEREAS, the County has determined that it is in the best interest of <br />the County that, instead of building and operating its own swimming pool, the <br />County contract with the Corporation pursuant to a Facilities/Services <br />Agreement dated as of March 1, 1994 (the "Agreement") between the County and <br />the Corporation to provide. public swimming pools and management services <br />through the operation of the Project for the benefit of County residents and <br />other persons visiting the County; <br />WHEREAS, the obligation of the County ,to make payments under the <br />Agreement shall constitute a valid, binding and legally enforceable <br />contractual obligation of the County to the payment of which the County is <br />obligated to appropriate funds in each year thereof, and payable from. the <br />.County's general fund and from the earnings and all income received by the <br />County from whatever source derived unless the use of such finds are <br />restricted other than by action of the Board of Commissioners of the County <br />or the use thereof is otherwise restricted by law, and enforceable in <br />accordance with its terms, except as such enforceability may be limited by <br />applicable bankruptcy, insolvency, reorganization, moratorium or other laws <br />relating to or affecting generally the enforcement of creditors' rights <br />heretofore or hereafter enacted or by equitable principles; <br />WHEREAS, there have been presented to the Board of Commissioners of <br />the County (the "Board") the following documents (collectively, the <br />"Instruments"), copies of which are attached hereto, which the County proposes <br />to approve, enter into and deliver to effectuate the proposed purchase <br />financing: <br />