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RES-2004-054 Resolution Providing Final Approval of Terms & Documents for County’s 2004 Installment Financing
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RES-2004-054 Resolution Providing Final Approval of Terms & Documents for County’s 2004 Installment Financing
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Last modified
4/19/2011 9:46:04 AM
Creation date
2/21/2011 12:40:31 PM
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BOCC
Date
6/23/2004
Meeting Type
Regular Meeting
Document Type
Resolution
Agenda Item
8c
Document Relationships
Agenda - 06-23-2004-8c
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\Board of County Commissioners\BOCC Agendas\2000's\2004\Agenda - 06-23-2004
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~ 5 ~ ~c~ c~ ~ ~- G S c,1 <br />G~ <br />Resolution Providing Final Approval of Terms and Documents <br />For County's 2004 Installment Financing <br />WFIEREAS: <br />The Board of Commissioners of Orange. County, North Carolina, has <br />previously determined to carry out a plan to finance certain public projects, <br />as described on Exhibit A (the "Projects"), through the use of an installment <br />financing including certificates of participation. <br />The County's Finance Officer has presented to this meeting the draft <br />documents listed on Exhibit B (the "Documents") and a draft dated June 7, <br />2004, of an official statement providing for the disclosure of information to <br />prospective investors in the County's financing obligations. All of these <br />items relate to the County's carrying out the financing plan. <br />BE IT THEREFORE RESOLVED by the Board of <br />Commissioners of Orange County, North Carolina, as follows: <br />1. abDetermination To Proceed with Projects -- The Board <br />confirms its decision to carry out the financing plan for the Projects. This <br />plan includes the County's acquiring the site of the proposed new high <br />school from the Chapel Hill - Carrboro school board to facilitate the <br />financing plan; the Board approves the County's acquisition of such <br />property, and hereby directs the County Manager and the County Attorney <br />to take all appropriate action toward that end. <br />2. abApproval of Documents; Direction To Execute Documents <br />-- The Board approves the forms of the Documents submitted to this <br />meeting. The Board authorizes and directs the Board's Chair and the <br />County Manager, or either of them, to execute and deliver those Documents <br />to which the County is a parry. The Documents in their respective final <br />forms must be in substantially the forms presented, with such changes as the <br />Chair or the County Manager may approve. The execution and delivery of <br />any Document by an authorized County officer will be conclusive evidence <br />of his approval of -any such changes. The Documents in final form, <br />however, must provide for the amount financed by the County not to exceed <br />
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