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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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33 <br /> EXHIBIT B-1 — <br /> Schedule of Installment Payments for First Advance <br /> For repayment of the First Advance, principal is payable in the amounts and on the <br /> dates as shown below, subject to prepayment as provided in this Contract. Interest is pay- <br /> able on each May 1 and November 1, beginning November 1, 2016. <br /> Each portion of the Amount Advanced will bear interest from the Closing Date <br /> until paid. Interest on the First Advance is calculated at the annual rate of 2.30%, as de- <br /> scribed below. Interest will be calculated on the basis of a 360-day year consisting of <br /> twelve 30-day months. The schedule below shows the expected interest payment <br /> amounts. <br /> First Advance = $2,275,000 <br /> [Table to come] <br /> EXHIBIT B-2 — <br /> Schedule of Installment Payments for Second Advance <br /> For repayment of the Second Advance, principal is payable in the amounts and on <br /> the dates as shown below, subject to prepayment as provided in this Contract. Interest is <br /> payable on each May 1 and November 1, beginning November 1, 2016. <br /> Each portion of the Amount Advanced will bear interest from the Closing Date <br /> until paid. Interest on the Second Advance is calculated at the annual rate of 2.95%, as <br /> described below. Interest will be calculated on the basis of a 360-day year consisting of <br /> twelve 30-day months. The schedule below shows the expected interest payment <br /> amounts. <br /> Second Advance = $5,875,000 <br /> [Table to come] <br /> 26 <br />
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