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RES-2003-013 Resolution for Sale of 2001 Bonds and Refunding of 1993 Bonds
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RES-2003-013 Resolution for Sale of 2001 Bonds and Refunding of 1993 Bonds
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Last modified
6/29/2011 9:44:06 AM
Creation date
6/29/2011 9:44:01 AM
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BOCC
Date
2/17/2003
Meeting Type
Regular Meeting
Document Type
Resolution
Agenda Item
5b
Document Relationships
Agenda - 02-17-2003-5b
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\Board of County Commissioners\BOCC Agendas\2000's\2003\Agenda - 02-17-2003
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executing an escrow agreement with an escrow agent), and (b) to approve changes to <br />any documents or closing certifications previously signed by County officers or <br />employees, provided that the Bonds will be in substantially the form approved by this <br />resolution and that any such changes will not substantially alter the intent of such <br />certificates from that expressed in the forms of such certificates as executed by such <br />officers or employees. The Finance Officer's authorization of the release of any such <br />document for delivery will constitute conclusive evidence of such officer's approval <br />of any such changes. <br />14. Undertaking for Continuing Disclosure -- The County <br />undertakes, for the benefit of the beneficial owners of the Bonds, to provide <br />continuing disclosure with respect to the Bonds as described in Exhibit B. The <br />provisions for continuing disclosure will terminate upon payment, or provision <br />having been made for payment (in a manner consistent with Rule 15c2-12), in full of <br />the principal of and interest on all of the Bonds. <br />15. Finance Officer as Disclosure Official -- The Board designates <br />the Finance Officer, on the County's behalf, to deem the supplemented Official <br />Statement to be a "Final Official Statement" within the meaning of Rule 15 c2-12. The <br />LGC's distribution of the supplemented Official Statement will be conclusive <br />evidence that the County has deemed it final as of its date. The Board further <br />designates the Finance Officer as the County .officer to be primarily responsible for <br />the County's compliance with its undertakings for continuing disclosure provided for <br />in this resolution. The Finance Officer will provide for the filings and reports <br />(including the reports of material events) constituting the continuing disclosure <br />provided for in this resolution. <br />16. Resolutions As To Tax Matters -- The County will not take or <br />omit to take any action the taking or omission of which will cause the Bonds to be <br />"arbitrage bonds," within the meaning of Section 148 of the "Code" (as defined <br />below), or "private activity bonds" within the meaning of Code Section 141, or <br />otherwise cause interest on the Bonds to be includable in gross income for federal <br />income tax purposes. Without limiting the generality of the foregoing, the County <br />will comply with any Code provision that may require the County at any time to pay <br />to the United States .any part of the earnings derived from the investment of the <br />proceeds of the Bonds, and the County will pay any such required rebate from its <br />general funds. For this paragraph, "Code" means the United States Internal Revenue <br />85902.1 <br />
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