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• <br /> 3 <br /> 1 The Board approved the lease purchase agreement, adopted <br /> 2 the following resolution and authorized the Finance Director to <br /> 3 execute all required documents, subject to review by the County <br /> 4 Attorney. <br /> 5 <br /> 6 RESOLUTION <br /> 7 <br /> 8 The Board of Commissioners (Governing Body) of Orange County, North <br /> 9 Carolina (Purchaser) has determined that it is necessary for the <br /> 10 Purchaser to acquire and install certain personal property ("Project") <br /> 11 for the Purchaser and to obtain financing for the Project through an <br /> 12 installment purchase transaction; <br /> 13 <br /> 14 NOW, THEREFORE, BE IT RESOLVED BY THE GOVERNING BODY: <br /> 15 <br /> 16 1. Authorization of Financing. The Governing Board determines <br /> 17 that the financing of the acquisition and installation of the Project <br /> 18 pursuant to the terms of Installment Purchase Contract-Number Three <br /> 19 ("Agreement") providing for the installment purchase of the Project by <br /> 20 the Purchaser from Wachovia Leasing Corporation is in the best <br /> 21 interest of the Purchaser and such installment purchase financing is <br /> 22 authorized. <br /> 23 <br /> 24 2. Designation. The Governing Body designates the obligations of <br /> 25 the Purchaser to make payments under the Agreement as non-qualified, <br /> 26 tax exempt, tax-exempt obligation; in accordance with the provisions <br /> 27 of Section 265 (b) (3) (ii) of the Internal Revenue Code of 1986, as <br /> 28 amended. <br /> 29 <br /> 30 3. Further Actions. The Governing Body authorizes Ken Chavious, <br /> 31 Finance Director to execute and deliver the Agreement and any and all <br /> 32 other documents, instruments, opinions, and certificates necessary to <br /> 33 carry out the purposes of this Resolution and all such action <br /> 34 previously taken is ratified and confirmed. <br /> 35 <br /> 36 4. This resolution shall take effect immediately. <br /> 37 <br /> 38 C. C.A.T. AGREEMENT ADDENDUM <br /> 39 The Board approved and authorized the Chair to sign the <br /> 40 C.A.T. Agreement Addendum with Wake Opportunities, Inc. to increase <br /> 41 Head Start transportation to five days per week and to increase the <br /> 42 assigned drivers' hours accordingly. <br /> 43 <br /> 44 D. ESTABLISH PUBLIC HEARING: CULBRETH PARK INTERIM <br /> 45 ASSISTANCE GRANT PROGRAM <br /> 46 The Board established October 18, 1994 as the Public <br /> 47 Hearing date to receive citizen comments prior to official closeout of <br /> 48 the Culbreth Park Interim Assistance (CDBG) Program. <br /> 49 <br /> 50 E. LAND RECORDS MANAGEMENT GRANT <br /> 51 The Board accepted the grant and authorized the Chair to <br /> 52 sign the agreement subject to final review by the County Attorney. <br /> 53 <br /> 54 F. REALIGNMENT OF STAFF HOURS IN THE COUNTY COMMISSIONERS' <br /> 55 OFFICE <br />