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Commissioner Brown made reference to the new park at Efland Cheeks Elementary School and said that there <br />are two carloads of kids playing basketball every day. <br />4. COUNTY MANAGER'S REPORT - NONE <br />5. RESOLUTIONSIPROCLAMATIONS <br />a. Approval of Resolution Concerning Revised Documents Governing Orange County Small Business <br />Loan Program <br />The Board considered approving legal documents and policies and procedures governing the Small <br />Business Loan Program, and authorizing their execution. <br />John Link said that these were the final legal documents, policies, and procedures that govern the small <br />business loan program. The banks have all reviewed the documents and have approved them. The attorneys have <br />approved the final language. <br />Commissioner Gordon made reference to Attachment D and the changes made to the policies and <br />procedures. She asked for an explanation of how the loan committee would work. <br />County Attorney Geoffrey Gledhill said that there was no change in substance. The Small Business Loan <br />Company Board of Directors consists of six bank representatives and three County representatives. He said that <br />everything in the document that is marked through is now part of the small business loan company documentation. <br />Commissioner Jacobs asked that "non-natural person" be defined in the document. <br />Commissioner Brown asked who the other two County representatives of the loan committee were <br />besides her. She was told that John Link and Ken Chavious were the other two. <br />A motion was made by Commissioner Jacobs, seconded by Commissioner Halkiotis to approve and <br />authorize the Chair to sign the resolution as stated below: <br />Resolution Regarding Small Business Loan Program <br />WHEREAS: <br />Orange County's Board of Commissioners (the "Board"} has determined that it is appropriate and desirable for <br />the County to stimulate the creation of good jobs for Orange County citizens as well as to stimulate successful <br />business development and expansion in Orange County. To that end, the Board has determined to provide for the <br />creation of a small business loan company to serve as a lender to small businesses, and to support the company and <br />a program of small business loans by appropriating funds to serve as a loan loss reserve for the loan program. <br />The County Manager has presented to this meeting the Articles of Incorporation and Bylaws for the loan <br />company, along with proposed forms of a "Support Agreement" and a "Loan Agreement" to carry out the loan program <br />and a final revised version of proposed loan program guidelines (collectively referred to below as the "Loan Program <br />Documents"}. <br />BE IT RESOLVED by the Board of Commissioners of Orange County, North Carolina, as follows: <br />1. The County approves the Loan Program Documents as presented to this meeting. The Clerk of this <br />Board shall retain with the permanent records of this meeting copies of the draft Loan Program Documents as so <br />presented. <br />2. The Board's Chair is authorized and directed to execute and deliver the Support Agreement and the <br />Loan Agreement in final forms, and the Clerk to this Board is authorized and directed to affix the County's seal to such <br />agreements and to attest the same. The Support Agreement and the Loan Agreement shall be in substantially the <br />farms submitted to this meeting, with such changes as the Chair may approve upon recommendation from the County <br />Manager and the County Attorney. The Chair's execution of such documents shall constitute conclusive evidence of <br />the Chair's approval of any such changes. <br />3. The County Manager is authorized and directed to hold executed copies of the Support Agreement <br />3 <br />