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Agenda - 09-08-2011 - 8a
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Agenda - 09-08-2011 - 8a
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9/7/2011 3:50:12 PM
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9/7/2011 3:50:11 PM
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BOCC
Date
9/8/2011
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
8a
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Minutes 09-08-2011
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\Board of County Commissioners\Minutes - Approved\2010's\2011
RES-2011-078 Resolution Providing Approval of Terms and Documents for County's 2011 Installment Refinancing Transaction
(Linked From)
Path:
\Board of County Commissioners\Resolutions\2010-2019\2011
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4 <br />Board directs the Finance Officer, after the sale of the bonds, to complete and otherwise prepare <br />the preliminary official statement as an official statement in final form. <br />The Board approves and appoints BB~°iT Capital- Markets (a division of Scott & <br />Stringfellow, LLC) and Wells Fargo Securities as the underwriters of the bonds. The Board <br />authorizes and approves the use of the preliminary official statement and final official statement <br />by the underwriters in connection with the sale of the bonds. <br />The Board acknowledges that it is the County's responsibilit3~, and ultimately the Board's <br />responsibility, to ensure that the Official Statement in its final form neither contains an untrue <br />statement of a material fact nor omits to state a material. fact required to be included therein for <br />the purpose for which such Offioial Statement is to be used or necessary to make the statements <br />therein, in light -of the circumstances under which they were made, not misleading. By the <br />adoption of this resolution, the Board members approve the- Official Statement as materially <br />correct ~nd_complete,_and_further acknowledge and accept their own responsibility for causing <br />the County to fulfill these responsibilities for the Official-Statement. <br />4. Authorization To Refinance obligations with Existing Lenders -The Board <br />understands that for certain of the County's outstanding_installment financing obligations, it may <br />be in the County's best interest to modify the existing agreements with the current lenders, <br />instead of refinancing those obligations through the issuance of the limited obligation bonds. The <br />Finance Officer, and all other County officers and representatives, are authorized and directed to <br />take all appr-opriate action to carry out such modifications and refinancings with the existing <br />lenders. <br />5. Authorization to County ll~anager and Finance O~~cer To Comlrlete Closing - <br />The County Manager, the Finance Officer and all other County officers and employees are <br />authorized and directed to take all proper steps to complete the financing in accordance with the <br />terms of this resolution. <br />The Board authorizes- and directs the Finance Officer to hold executed copies of all <br />financing documents authorized or permitted by this resolution in escrow on the County's behalf <br />until the conditions for their delivery have been completed to such officer's satisfaction, and <br />thereupon to release the executed copies of such documents for delivery to the appropriate <br />persons or organizations. <br />Without limiting -the generality of the foregoing, the Board specifically authorizes the <br />Finance Officer (a} to approve any additional agreements appropriate to carry out the plan of <br />financing contemplated by this resolution, including agreements for the custody or investment of <br />bond proceeds and agreements for appropriate professional services, and (b) to approve changes <br />to any documents or closing certifications previously signed by County officers or employees, <br />provided that such changes do not conflict with this resolution or substantially alter the intent <br />from that expressed in the form originally signed. The Finance Offtcer's authorization of the <br />release of any such document for delivery will constitute conclusive evidence of such officer's <br />approval of any such changes. <br />2 <br />
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