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and the Loan Agreement, and any other documents appropriate for the purposes of this resolution, in escrow on the <br />County's behalf until the conditions for the delivery of such documents have been completed to his satisfaction, and <br />thereupon to release the executed copies of such documents for delivery. <br />4. All County officers are authorized and directed to deliver all certificates and instruments and to take all <br />such further action as they may consider necessary or desirable in connection with the execution and delivery of the <br />Loan Program Documents and otherwise to initiate the County's small business loan program. All other actions of <br />County officers in furtherance of the purposes and intents of this resolution are ratified, approved and confirmed. <br />5. All other resolutions, or parts thereof, in conflict with this resolution are repealed to the extent of the <br />conflict. This resolution shall take effect immediately. <br />VOTE: UNANIMOUS <br />6. SPECIAL PRESENTATIONS -NONE <br />7. PUBLIC HEARINGS <br />a. Installment Purchase of Land from Duke University and Acceptance of Grant <br />The Board held a public hearing on the resolution authorizing the installment purchase of land from Duke <br />University and considered approving a grant agreement with the Clean Water Management Trust Fund in the amount <br />of $143,000. <br />Environmental and Resource Conservation Director David Stancil said that this public hearing is required <br />because of the financing mechanism. In early 1999, the Board considered the purchase of the 63-acre tract of land <br />that is located west of Hillsborough on US 70, previously part of Duke Forest. The Board agreed to an option to <br />purchase in the spring of 1999 and authorized the submittal of a grant to the Clean Water Management Trust Fund. <br />The Board agreed to exercise the option to purchase the land in December of 1999. The projected closing is March <br />31 St. The Attorney has prepared a Resolution of Purchase that covers all of the necessary actions that are needed. <br />Commissioner Brown asked about the easement on the property. <br />David Stancil said that the conservation easement that would be granted to the Clean Water Management <br />Trust Fund and to the state of North Carolina is their portion of the funding of the project. The easement is a 300-foot <br />area along the stream of the property and the boundaries of the property that are adjacent to Corporation Lake and <br />McGowen Creek. <br />A motion was made by Commissioner Jacobs, seconded by Commissioner Halkiotis to close the public <br />hearing and approve and authorize the Chair to sign the resolution as stated below: <br />RESOLUTION APPROVING AGREEMENTS BETWEEN ORANGE COUNTY <br />AND DUKE UNIVERSITY AND BETWEEN ORANGE COUNTY AND THE <br />STATE OF NORTH CAROLINA CONCERNING THE INSTALLMENT <br />PURCHASE BY THE COUNTY OF A 62.65-ACRE PARCEL OF LAND <br />DESCRIBED HEREIN AND THE CREATION OF A CONSERVATION <br />EASEMENT ON THE RIPARIAN BUFFER AREAS OF THE PROPERTY <br />ALL AS SHOWN ON THE DOCUMENTS THAT ARE EXHIBITS TO <br />THIS RESOLUTION< APPROVING CERTAIN OTHER ACTIONS <br />RELATING THERETO AND AUTHORIZING CERTAIN ACTIONS IN <br />CONNECTION THEREWITH <br />WHEREAS, the County of Orange, North Carolina, a political subdivision of the State of North Carolina (the <br />"County"), has previously approved the acquisition of the Property; and <br />WHEREAS, the County has previously approved the application for a Clean Water Management Trust Fund <br />grant to help pay for the acquisition of the Property, which grant has been approved by the Clean Water Management <br />Trust Fund under the terms and the conditions generally of the Grant Agreement, Temporary Conservation Easement, <br />and Permanent Conservation Easement, drafts of which are exhibits to the resolution; and <br />WHEREAS, the County is authorized to finance the acquisition of the Property by a contract or contracts that <br />create in the Property a security interest to secure repayment of moneys made available for such purpose; and <br />WHEREAS, the County has determined to proceed with the proposed financing of the purchase of the Property <br />and to approve agreements providing for the installment payment with respect thereto; and <br />