Orange County NC Website
Browse       Search
-}-E~,r~~~- I <br /> <br />Resolution Providing Final Approval of Terms and Documents <br />For County's 2010 Installment Refinancings And Equipment Financing <br />WHEREAS: <br />The Board of Commissioners of Orange County, North Carolina, has previously <br />determined to carry out to refmance County installment financings and to finance certain <br />equipment, including sheriff's radios, telephone equipment and property information <br />management software (collectively, the "Project"). <br />The financing. for the project will take the form of a new installment financing <br />pursuant to the authority of Section 160A-20 of the General Statutes and will include the <br />use of limited obligation bonds. <br />The County's Finance Officer has made available to this Board the draft <br />documents listed on Exhibit A (the "Documents"), and a draft of an official statement <br />providing for the disclosure of information to prospective investors in the County's <br />financing obligations. All of these items relate to the County's carrying out the financing <br />• plan. <br />BE IT THEREFORE RESOLVED by the Board of Commissioners of Orange <br />County, North Carolina, as follows: <br />1. Determination To Proceed with Project -- The Board confirms its decision <br />to carry out the Project. <br />2. Approval of Documents; Direction To Execute Documents -- The Board <br />approves the forms of the Documents submitted to this meeting. The Board authorizes <br />and directs the Board's Chair and the County Manager, or either of them, to execute and <br />deliver those Documents to which the County is a party. The Documents in their <br />respective final forms must be in substantially the forms presented, with such changes as <br />the Chair or the County Manager may approve. The execution and delivery of any <br />Document by an authorized County officer will be conclusive evidence of such officer's <br />approval of any such changes. The Documents in final form, however, must provide for <br />the principal amount of limited obligation bonds to not exceed $101,600,000 and for a <br />financing term not to extend beyond December 31, 2030. <br />3. Approval of Official Statement -The Board approves the draft official <br />statement submitted to this meeting as the form of the preliminary official statement <br />• pursuant to which the Bonds (as defined in Exhibit A) will be offered for sale. <br />1 <br />