Agenda - 09-08-2011 - 8a - Laserfiche WebLink

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5 In-addition, the Finance Officer is authorized and directed to take alI appropriate steps for the efficient and convenient carrying out of the County's on-going responsibilities with respect to the bands. This authorization includes, without limitation, contracting with third parties for reports and calculations that-may be required under tree bonds, this resolution or otherwise with respect to the bonds. 6. Miscellaneous Provisions -All -County officers and- employees are authorized and directed to take all such further action as they may consider necessary or desirable in furtherance of the purposes of this resolution. All such prior actions of County officers and employees are ratified, approved and confirmed. Upon the absence, unavailability or refusal to act of the County Manager, the Board's Chair or the Finance- Officer, any other of such officers may assume any responsibility or carry out-any function assigned in this resolution. In addition, upon the unavailability of the Chair or the Clerk, respectively, any of the rights or responsibilities directed to such officers may be carried out or exercised by the Vice Chair or any Deputy or Assistant__Clerk._All _other Board proceedings, or parts thereof, in conflict with this resolution are repealed; to the extent of the conflict. This resolution takes effect immediately. Exhibit A -- Dra#t Documents (a) A draft da#ed August 22, 2011, of an Installment Financing Contract to be dated on- or about September 1, 2011 (the "Financing Contract"), between the County and Orange County Public Facilities Company (the "Company), providing for the advance of funds to the County for the County to refinance other financing obligations, and further providing for the County's obligation to repay the amounts advanced. (b) A draft dated-August 22, 2011, of a Deed of Trust and Security Agreement to be dated on or about September 1, 2011, from the County to a deed of trust trustee for the Company's benefit, providing fora security interest in certain County property (including Morris Grove Elementary School and the 2007 County Justice Facility improvements) to secure the County's obligations under the Financing Contract. (c) A draft dated August 22, 2011, of a Trust Agreement to be dated on or about September 1, 2011, between the Company and a Trustee, providing for the issuance of limited obligation bonds to generate funds for the advance to the County under- the Financing Contract. The bonds are payable from amounts paid by the County under the Financing Contract. (d) A draft of a Bond Purchase Agreement to be dated on or about September 1, 2011, providing for the underwriters' obligations to purchase the bonds. The Bond Purchase Agreement includes a Letter of Representation to be delivered by the County. The final form of this Agreement will set out the final principal amount, principal payment schedule and interest rates for the bonds.