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4 <br /> REIMBURSEMENT RESOLUTION— <br /> BUILDING ACQUISITION PROJECT <br /> WHEREAS, the Finance Officer has described to the Board the desirability of <br /> adopting a resolution, as provided under federal tax law, to facilitate the County's using <br /> financing proceeds to restore the County's funds when the County makes capital <br /> expenditures prior to closing on a bond issue or other financing. <br /> BE IT RESOLVED by the Board of Commissioners of Orange County, North <br /> Carolina, as follows: <br /> Section 1 The project is the acquisition of a building for offices of the Department <br /> of Purchasing and Central Services at 228 S. Churton Street, Hillsborough, NC. <br /> Section 2. The project is to be financed. The currently expected type of financing <br /> (which is subject to change) is installment financing pursuant to Section 160A-20 of the <br /> General Statutes. The currently expected maximum amount of obligations to be issued or <br /> contracted for the project is $296,000. <br /> Section 3. The County intends that funds advanced, or which may be advanced, <br /> from the County's General Fund for costs of this project are to be reimbursed from the <br /> financing proceeds. <br /> Section 4. The adoption of this resolution is intended as a declaration of this <br /> County's official intent to reimburse project expenditures from financing proceeds. <br /> I hereby certify that the foregoing resolution was duly adopted at a meeting of the <br /> Board of Commissioners of Orange County, North Carolina, duly called and held on June <br /> 29, 2000, and that a quorum was present and acting throughout such meeting. Such <br /> resolution remains in full effect as of today. <br /> Dated this day of 112000. <br /> [SEAL] <br /> Beverly A. Blythe <br /> Clerk, Board of Commissioners <br /> Orange County, North Carolina <br />