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[Equipment] <br />j~~~ .~oa~ O v? 3 <br />RESOLUTION ~ ~~ ^~ `~ <br />The governing body for the Count~r~of Orange, North Carolina, held a regular mee ~ gda~. <br />the 3 ,. e regular place of meeting, on at <br />(Ja.m./p.m. / <br />Present: ~,~~11~cl~Y~L~~ ~ ~~~~~tl.O .~~~`ztt~ ~,`~ <br />Absent: <br />Also Present: <br />in <br />RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF <br />AN INSTALLMENT FINANCING CONTRACT IN THE AMOUNT OF <br />$419,640.00 WITH RBC CENTURA BANK TO FINANCE THE <br />ACQUISITION OF CERTAIN VEffiCLES FOR USE BY THE COUNTY <br />OF ORANGE, NORTH CAROLINA, AUTHORIZING THE EXECUTION <br />AND DELIVERY OF RELATED INSTRUMENTS, AND DETERMINING <br />OTHER MATTERS IN CONNECTION THEREWITH <br />BE IT RESOLVED by the governing body for the County of Orange, North Carolina (the <br />"Unit" <br />Section 1. The governing body of the Unit does hereby fmd and determine: <br />a) The County of Orange proposes the acquisition of certain equipment, which may <br />include fixtures as more fully described in the hereinafter mentioned Contract <br />(collectively, the "Equipment"); <br />b) After consideration, the governing body of the Unit. has determined that the most <br />advantageous manner of financing thereof is by an installment contract pursuant <br />to Section 160A-20 of the General Statutes of North Carolina, as amended; <br />c) Pursuant to Section 160A-20, the Unit is authorized to finance the acquisition of <br />personal property, including fixtures, by installment contracts that create a <br />security interest in the property fmanced to secure repayment of the financing; <br />and <br />troduced the following resolution which was read: <br />d) RBC Century Bank ("RBC Century") has proposed that RBC Century enter into <br />an Installment Financing Contract with the Unit to fmance the Equipment <br />pursuant to which RBC Century will lend the Unit then amount of $419,640.00 <br />