Orange County NC Website
Resolution Providing Final Approval of Terms and Documents <br /> For New Orange County High School Financing Project <br /> WHEREAS. <br /> The Board of Commissioners of Orange County, North Carolina, has <br /> previously approved and determined to carry out a plan for the construction and <br /> financing (the "Project") of a new Orange County high school (the "New School"). <br /> The County's Finance Officer has presented to this meeting the draft <br /> documents listed on Exhibit A (the "Documents") and a draft dated November 9, <br /> 2000, of an official statement providing for the disclosure of information to <br /> prospective investors. All of these items relate to the County's carrying out the <br /> Project and appear to be in forms appropriate for carrying out the Project. <br /> BE IT THEREFORE RESOLVED by the Board of Commissioners of <br /> Orange County, North Carolina, as follows: <br /> 1. Determination To Proceed with Project -- The Board confirms its <br /> decision to carry out the Project in accordance with the plan described in the <br /> Documents. <br /> 2. Approval of Documents; Direction To Execute Documents -- The <br /> Board approves the forms of the Documents submitted to this meeting and directs <br /> the Board's Chair to execute and deliver those Documents to which the County is a <br /> party. The Documents in their final form must be in substantially the forms <br /> presented, with such changes as the Chair may approve; the execution and delivery <br /> of any Document by the Chair shall be conclusive evidence of such officer's <br /> approval of any such changes. The Documents in final form, however, must <br /> provide for the amount to be financed by the County not to exceed $14,000,000 <br /> and for financing term not to extend beyond December 31, 2010. <br /> 3. Approval of Official Statement - The Board approves the draft official <br /> statement submitted to this meeting as the form of the preliminary official statement <br /> pursuant to which the Certificates (as defined in Exhibit A) will be offered for sale. <br /> The preliminary official statement as distributed to prospective investors must be in <br /> substantially the form presented, with such changes as the Finance Officer may <br /> approve. The Board directs the Finance Officer, after the sale of the Certificates, to <br />