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RES-2007-037 Resolution Providing Final Approval for County Installment Financing
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RES-2007-037 Resolution Providing Final Approval for County Installment Financing
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Last modified
8/3/2012 9:37:52 AM
Creation date
5/20/2010 8:46:10 AM
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BOCC
Date
5/3/2007
Meeting Type
Regular Meeting
Document Type
Resolution
Agenda Item
5a
Document Relationships
Agenda - 05-03-2007-5a
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Path:
\Board of County Commissioners\BOCC Agendas\2000's\2007\Agenda - 05-03-2007
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21 <br />Trust or the Project Fund Agreement or any other documents relating to such <br />agreements. The County's performance of its obligations under this Contract, the <br />Deed of Trust and the Project Fund Agreement, and compliance with the <br />provisions hereof and thereof, under the circumstances contemplated hereby or <br />thereby, does not and will not in any material respect constitute on the County's <br />part a breach of or default under, or result in the creation of a lien or other <br />encumbrance on any County property (except as contemplated herein or therein), <br />pursuant to any agreement or other instrument to which the County is a party, or <br />any existing law, regulation, court order or consent decree to which the County is <br />subject. <br />(f) No County representation, covenant or warranty in this Contract is <br />false or misleading in any material respect. <br />(g) The County is vested with fee simple title to the Pledged Sites. There <br />are no liens or encumbrances on the Pledged Facilities or the Pledged Sites other <br />than the Existing Encumbrances, as defined in the Deed of Trust. <br />(h) The resolutions relating to the County's performance of this Contract, <br />the Deed of Trust and the transactions contemplated hereby and thereby have been <br />duly adopted, are 'in full force and effect, and have not been in any respect <br />modified, revoked or rescinded. <br />(i) The County reasonably believes funds will be available to satisfy all <br />of its obligations under this Contract. <br />(j) The Financed Facilities have been or will be designed and <br />constructed so as to comply with all applicable subdivision, building and zoning <br />ordinances and regulations, if any, and any and all applicable federal and State <br />standards and requirements relating to the Financed Facilities. The Financed <br />Facilities have not been and will not be used in any private business or put to any <br />private business use. . <br />(k) T'he County will- not take or permit, or omit to take or cause to be <br />taken, any action that would cause its obligations under this Contract to be <br />"arbitrage bonds" or "private activity bonds" within the meaning of the Code, or <br />otherwise adversely affect the exclusion from gross income for federal income tax <br />purposes of the designated interest component of Installment Payments to which <br />such components would otherwise be entitled and, if it should take or permit, or <br />omit to take or cause to be taken, any such action, the County will take or cause to <br />97562v1 Zj <br />
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