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Agenda - 04-21-1998 - 8d
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Agenda - 04-21-1998 - 8d
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Last modified
7/15/2010 12:48:15 PM
Creation date
7/15/2010 12:48:15 PM
Metadata
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BOCC
Date
4/21/1998
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
8d
Document Relationships
1998 S Finance -BB&T - Modification Agreement for Southern Village Elementary Financing 04-21-1998-8d
(Linked From)
Path:
\Board of County Commissioners\Contracts and Agreements\General Contracts and Agreements\1990's\1998
Minutes - 19980421
(Linked From)
Path:
\Board of County Commissioners\Minutes - Approved\1990's\1998
RES-1998-021 - Finance - Resolution Approving a Modification for Southern Village Elementary Financing Documents To Correct the Payment Schedules 04-21-1998-8d
(Linked From)
Path:
\Board of County Commissioners\Resolutions\1990-1999\1998
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2 <br />Resolution Approving a Modification for Southern Village Elementary <br />Financing Documents, To Correct the Payment Scherlnlps <br />WHEREAS: <br />In late 1996 and early 1997, Orange County, North Carolina (the "County"), entered into <br />financing agreements for Southern Village Elementary School. <br />There has been presented to this meeting a draft dated March 19, 1998, of a Modification <br />Agreement (the "Agreement") related to such financing agreements. The Agreement provides <br />for an adjustment to the payment schedules for the financings. These adjustmens will bring the <br />payment schedules in line with the County's overall capital improvement program, as intended at <br />the time of the financings. <br />BE IT THEREFORE RESOLVED by the Orange County Board of Commissioners, <br />as follows: <br />1. The Chair and Vice Chair of the County's Board of Commissioners, or either of <br />them, are hereby authorized and directed to execute and deliver the Agreement, and the Clerk to <br />this Boazd (or any assistant clerk) is hereby authorized and directed to affix the County's seal to <br />the Agreement and to attest the same. The Agreement shall be in substantially the form <br />submitted to this meeting, which is hereby approved, with such changes as may be approved by <br />the Chair or Vice Chair, such officer's execution to constitute conclusive evidence of such <br />officer's approval of any such changes. <br />2. The County's officers are hereby authorized and directed to take all such further <br />action as they may consider necessary or desirable in connection with the execution and delivery <br />of the Agreement and the consummation of the transactions contemplated thereby. The County <br />Finance Officer is hereby authorized and directed to hold executed copies of the Agreement, and <br />any other documents authorized or permitted by this resolution, in escrow on the County's behalf <br />until the conditions for the delivery of such documents have been completed to such officer's <br />satisfaction, and thereupon to release the executed copies of such documents for delivery to the <br />appropriate persons or organizations. <br />3. All other actions of County officers in furtherance of the purposes of this <br />resolution are hereby ratified, approved and confirmed. All other resolutions, or parts thereof, in <br />conflict with this resolution are hereby repealed to the extent of the conflict. This resolution <br />shall take effect immediately. <br />
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