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Agenda - 04-19-2016 - 7-a - Adoption of the Final Financing Resolution Authorizing the Issuance of $8,150,000 in Installment Purchase Financing for Various Capital Investment Plan Projects
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Agenda - 04-19-2016 - 7-a - Adoption of the Final Financing Resolution Authorizing the Issuance of $8,150,000 in Installment Purchase Financing for Various Capital Investment Plan Projects
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4/15/2016 9:26:09 AM
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BOCC
Date
4/19/2016
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
7a
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RES-2016-032 Resolution providing final approval of terms and documents for 2016 County installment financing
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\Board of County Commissioners\Resolutions\2010-2019\2016
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12 <br /> 3.2. Utilities. The County will pay all charges for utility services furnished <br /> to or used on or in connection with the Pledged Site and the Pledged Facilities. <br /> 3.3. Risk of Loss. The County bears all risk of loss to and condemnation of <br /> the Mortgaged Property. <br /> 3.4. Lender's Performance of County's Responsibilities. The Lender may, <br /> but is in no event required to, (a) undertake any performance required of the County or <br /> (b) make any payments required to be made by the County, in either case for the insur- <br /> ance, maintenance or preservation of the Mortgaged Property that the County fails to <br /> make or pay. The County will then reimburse the Lender for any such payments and for <br /> any associated costs and expenses, legal or otherwise, together with interest at the annual <br /> rate of 4.00%. <br /> 3.5. Compliance with Requirements.The County will promptly and faithfully <br /> comply with all requirements of governmental authorities relating to the use or condition <br /> of the Mortgaged Property (or be diligently and in good faith contesting the require- <br /> ments), if the violation of any such requirement would adversely affect the use, value or <br /> condition of the Mortgaged Property. This compliance (or contest) is required of the <br /> County whether or not any requirement necessitates structural changes or improvements <br /> or interferes with the County's use or enjoyment of the Mortgaged Property. Unless re- <br /> quired by applicable law or unless the Lender has otherwise agreed in writing, the County <br /> will not use the Mortgaged Property for any purposes other than those for which the <br /> property was intended as of the Closing Date. <br /> The County will in no event use the Mortgaged Property, or any portion, nor allow <br /> it to be used, (a) for any unlawful purpose, (b) in violation of any certificate of occupancy <br /> or other permit or certificate, or (c) in violation of any law, ordinance or regulation. <br /> 3.6. Use and Operation; Leasing. (a) The County will use and operate the <br /> Pledged Facilities for their intended public purposes. The County will be solely responsi- <br /> ble for the operation of the Pledged Facilities, and will not contract with any other person <br /> or entity for such operation. <br /> 4.6. Use and Operation; Leasing. (a) The County represents that the <br /> Pledged Facilities will be useful to the County in carrying out its required functions. The <br /> County expects that the County and the School Board will need and use the Pledged Fa- <br /> cilities continuously during the Contract term. The County does not expect this need or <br /> use to diminish in any material respect during the Contract term. <br /> (b) The County will be solely responsible for the operation of the Pledged Fa- <br /> cilities, and will not contract with any other person or entity for such operation. The <br /> Pledged Facilities will not be used in any private business or put to any private business use, <br /> except for such minor and occasional uses as may be consistent with their use as local gov- <br /> 5 <br />
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