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Agenda - 11-16-2010 - 4k
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Agenda - 11-16-2010 - 4k
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11/16/2010 12:55:23 PM
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BOCC
Date
11/16/2010
Meeting Type
Regular Meeting
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Agenda
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4k
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Minutes 11-16-2010
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\Board of County Commissioners\Minutes - Approved\2010's\2010
RES-2010-088 Resolution Providing Final Approval of Terms and Documents for County's 2010 Installment Refinancings and Equipment Refinancing
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\Board of County Commissioners\Resolutions\2010-2019\2010
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will be limited to the particular breach so waived and will not be deemed a waiver of any • <br />other breach under this Contract. <br />ARTICLE X <br />ASSIGNMENTS <br />10.1. County's Assignments. The County will not sell or assign any <br />interest in this Contract without the Company's prior written consent. <br />11.2. Company's Assignment. The Company will assign substantially all <br />of its rights under this Contract, including rights to receive and enforce Contract <br />Payments (but excluding the Company's rights to indemnification and payment of costs <br />and its rights to receive notices) to the Trustee pursuant to the Trust Agreement, without <br />recourse against the Company. The County consents to such assignment, and agrees to <br />accept performance, direction and any other action by the Trustee to the same extent <br />provided in this Contract for the action of the Corporation, and to render performance to <br />the Trustee to the same extent provided in this Contract for performance to the <br />Corporation (in each case, except with respect to the Corporation's reserved rights). <br />Notice of any further assignment must be provided to the County. The County will <br />keep a complete and accurate record of all assignments. After the giving of any such • <br />notice, the County will thereafter make all payments in accordance with the notice to the <br />assignee named therein and shall, if so requested, acknowledge such assignment in <br />writing, but such acknowledgment will in no way be deemed necessary to make the <br />assignment effective. <br />ARTICLE XI <br />COUNTY'S LIMITED OBLIGATION <br />Notwithstanding any other provision of this Contract, the parties intend that this <br />transaction comply with North Carolina General Statutes Section 160A-20. No deficiency <br />judgment may be entered against the County in violation of such Section 160A-20. <br />No provision of this Contract will be construed or interpreted as creating a pledge <br />of the County's faith and credit within the meaning of any constitutional debt limitation. <br />No provision of this Contract will be construed or interpreted as an illegal delegation of <br />governmental powers or as an improper donation or lending of the County's credit within <br />the meaning of the North Carolina constitution. The County's taxing power is not and <br />may not be pledged directly or indirectly or contingently to secure any moneys due under <br />this Contract. • <br />is <br />
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