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United States Internal Revenue Code of 1986, as amended, and includes applicable <br /> Treasury regulations. <br /> S. Obligations are "Bank-Qualified" - The County designates its payment <br /> Obligations as "qualified tax-exempt obligations" for the purpose of Code Section <br /> 265(b)(3), which provides certain tax advantages for financial institutions investing in <br /> obligations similar to the financing Obligations the County now plans to incur. <br /> 6. Miscellaneous Provisions -- All County officers and employees are <br /> authorized to take all such further action as they may consider necessary or desirable in <br /> furtherance of the purposes of this resolution. All such prior actions of County officers <br /> and employees are ratified. Upon the absence, unavailability or refusal to act of the <br /> County Manager, the Chair or the Finance Officer, any other of such officers may assume <br /> any responsibility or carry out any function assigned in this resolution. In addition, the <br /> Vice Chair or any Deputy or Assistant Clerk to the Board may in any event assume any <br /> responsibility or carry out any function assigned to the Chair or the Clerk, respectively, in <br /> this resolution. All other Board proceedings, or parts thereof, in conflict with this <br /> resolution are repealed, to the extent of the conflict. This resolution takes effect <br /> immediately. <br /> I certify as follows: that the foregoing resolution (which includes the attached <br /> Exhibits A and B) was properly adopted at a meeting of the Board of Commissioners of <br /> Orange County, North Carolina; that this meeting was properly called and held on June <br /> 18, 2013; that a quorum was present and acting throughout the meeting; and that this <br /> resolution has not been modified or amended, and remains in full effect as of today. <br /> Dated this I� day of June, 2013. <br /> tvj& ' 04, <br /> �' Donna S. Ba <br /> it Clerk, Board of Commissioners <br /> �a. Orange County, North Carolina <br /> firth QCALO���4 <br /> 3 <br />