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RES-1996-025 Resolution approving the purchase and financing of property located at 501-503 West Franklin Street
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RES-1996-025 Resolution approving the purchase and financing of property located at 501-503 West Franklin Street
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Last modified
11/27/2013 10:10:45 AM
Creation date
10/25/2013 12:28:17 PM
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BOCC
Date
6/26/1996
Meeting Type
Regular Meeting
Document Type
Resolution
Agenda Item
VII-D
Document Relationships
Agenda - 06-26-1996 - VII-D
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\Board of County Commissioners\BOCC Agendas\1990's\1996\Agenda - 06-26-1996
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enter into the Installment Purchase Contract and the Deed of Trust <br /> in order to execute the plan for the acquisition and improvement of <br /> the Project and the financing thereof as described above. <br /> Section 3 . The terms and provisions of the Proposal, the <br /> Installment Purchase Contract and the Deed of Trust are hereby <br /> approved in all respects and the Chairman of the Board of <br /> Commissic3ners, the County Manager of the County, the Finance <br /> Director of the County and the Clerk to the Board of Commissioners <br /> are hereby authorized and directed to execute and deliver the <br /> Installment Purchase Contract and the Deed of Trust, as may be <br /> applicable, in substantially the forms presented to the County, <br /> together with such additions, changes, modifications and deletions <br /> as they, with the advice of counsel, may deem necessary and <br /> appropriate, and such execution and delivery shall be conclusive <br /> evidence of the approval and authorization thereof by the Board of <br /> Commissioners and the County; provided, however, that the County <br /> Manager or the Finance Director of the County or his respective <br /> designee shall determine that the provisions of the Installment <br /> Purchase Contract and the Deed of Trust are consistent with the <br /> provisions of the Proposal; that the Installment Purchase Contract <br /> may be in the form of two separate agreements, one of which <br /> reflects an interest component which would be exempt from certain <br /> federal income taxation and the other of which reflects and <br /> . interest component which, would not be so exempt; and that, under <br /> the Installment Purchase Contract, the final Installment Payment is <br /> due not latex than July 16, 2011, the maximum stated interest rate <br /> 359360.1 & <br />
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