Orange County NC Website
7 <br /> RES-2013-032 Attachment 4 <br /> Resolution Providing Preliminary <br /> Approval for Installment Financing <br /> WHEREAS: <br /> The Board has determined to pursue the financing of various public improvements, <br /> including utility improvements in the Buckhorn Economic Development District, vehicle <br /> replacements, and roof, information technology and HVAC improvements. <br /> BE IT RESOLVED by the Board of Commissioners of Orange County, North <br /> Carolina, as follows: <br /> 1. Approval for installment financing -- The Board makes a preliminary <br /> determination to proceed with financing approximately $10 million for the approved projects. <br /> The financing will take the form of an installment financing, as provided for under Section <br /> 160A-20 of the General Statutes. The Board will make a final determination to proceed with <br /> the financing, and to approve financing terms, by one or more subsequent Board actions. <br /> 2. Staff to proceed with issue — The County Manager, the Finance Officer and all <br /> other County officers are directed to take all proper steps to proceed with the financing, <br /> including proceeding with an application to the North Carolina Local Government Commission <br /> for its required approval of the financing and soliciting financing proposals from financial <br /> institutions. The Board appoints the Finance Officer as the County's authorized representative <br /> with respect to the LGC application process. <br /> 3. Call for public hearing-- The County Manager, in collaboration with the <br /> Clerk to this Board, is directed to provide for the scheduling of the required public hearing for <br /> this financing, and to provide for notice of the hearing to be given in accordance with law. <br /> 4. Miscellaneous provisions -- All County officers and employees are authorized to <br /> take all such further action as they may consider necessary or desirable in connection with the <br /> furtherance of the purposes of this resolution. All such prior actions of County officers and <br /> employees are ratified. All other resolutions, or parts thereof, in conflict with this resolution are <br /> repealed, to the extent of the conflict. This resolution takes effect immediately. <br /> * * * * * * * <br /> I certify as follows: that the foregoing resolution was properly adopted at a meeting of the <br /> Board of Commissioners of Orange County, North Carolina; that this meeting was properly <br /> called and held on ; that a quorum was present and acting throughout <br /> the meeting; and that this resolution has not been modified or amended, and remains in full effect <br /> as of today. <br /> Dated this day of , 2013. <br /> [SEAL] <br /> Clerk, Board of Commissioners <br /> Orange County, North Carolina <br />