Orange County NC Website
7 <br /> County's behalf until the conditions for the delivery of the Bonds and other <br /> documents have been completed to the Finance Officer's satisfaction, and thereupon <br /> to release the executed Bonds and other documents for delivery to the appropriate <br /> persons or organizations. . <br /> Without limiting the generality of the foregoing, this authorization and <br /> direction is specifically extended to authorize the Finance Officer (a) to enter into <br /> such agreements or take such other actions as such officer may deem appropriate in <br /> connection with obtaining bond insurance for the Bonds or completing the refunding <br /> that is the purpose of the Refunding Bonds (such as giving notice of the redemption of <br /> the 1994 school bonds, executing an escrow agreement with an escrow agent and <br /> arranging for the verification of calculations related to the refunding), and (b) to <br /> approve changes to any documents or closing certifications previously signed by <br /> County officers or employees, provided that the Bonds will be in substantially the <br /> form approved by this resolution and that any such changes will not substantially alter <br /> the intent of such certificates from that expressed in the forms of such certificates as <br /> executed by such officers or employees. The Finance Officer's authorization of the <br /> release of any such document for delivery will constitute conclusive evidence of such <br /> officer's approval of any such changes. <br /> 13. Undertaking for Continuing Disclosure -- The County undertakes, for <br /> the benefit of the beneficial owners of the Bonds, to provide continuing disclosure <br /> with respect to the Bonds as described in Exhibit B. The provisions for continuing <br /> disclosure will terminate upon payment, or provision having been made for payment <br /> (in a manner consistent with Rule 15c2-12), in full of the principal of and interest on <br /> all of the Bonds.. <br /> 14. Finance Officer as Disclosure Official -- The Board designates the <br /> Finance Officer, on the County's behalf, to deem the supplemented Official Statement <br /> to be a "Final Official Statement" within the meaning of Rule 15c2-12. The LGC's <br /> distribution of the'supplemented Official Statement will be conclusive evidence that <br /> the County has deemed it final as of its date. The Board further designates the <br /> Finance Officer as the County officer to be primarily responsible for the County's <br /> compliance with its undertakings for continuing disclosure provided for in this <br /> resolution. The Finance Officer will provide for the filings and reports (including the <br /> reports of material events) constituting the continuing disclosure provided for in this <br /> resolution. <br /> 15. Resolutions As To Tax Matters -- The County will not take or omit to <br /> take any action the taking or omission of which will cause the Bonds to be "arbitrage <br /> bonds," within the meaning of Section 148 of the "Code" (as defined below), or <br /> "private activity bonds" within the meaning of Code Section 141, or otherwise cause <br /> interest on the Bonds to be includable in gross income for federal income tax <br /> purposes. Without limiting the generality of the foregoing, the County will comply <br />