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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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65 <br /> may require that any future purchase orders or contracts be entered into by the County in <br /> its own name or be entered into by the County and the School Board jointly. <br /> All contracts must comply with the public procurement laws and any other State <br /> laws applicable to either the School Board or the County, as appropriate, with regard to <br /> entering into such contracts. The School Board must provide that contractors provide <br /> bonds and insurance coverages that comply with the requirements of North Carolina law. <br /> 4. RIGHTS AND RESPONSIBILITIES FOR THE PROJECT. <br /> The School Board will be responsible for carrying out the Project, and the School <br /> Board will have all rights to supervise the Project. <br /> The County and its representatives and agents have the right to enter upon the <br /> Project sites and inspect the Project work from time to time during construction and after <br /> the completion of construction. The School Board will cause any vendor, contractor or sub- <br /> contractor to cooperate with the County and its representatives and agents during such <br /> inspections. No right of inspection or approval granted in this Section imposes upon the <br /> County any duty or obligation whatsoever to undertake any inspection or to make any <br /> approval. No inspection made or approval given by the County imposes upon the County <br /> any duty or obligation whatsoever to identify or correct any defects in Grady Brown or to <br /> notify any person with respect thereto. The County makes no warranties (either express or <br /> implied) as to the quality or fitness of any improvement, any such inspection and approval <br /> being solely for the County's benefit. <br /> 5. SCHOOL BOARD'S RIGHT TO ENFORCE CONTRACTS. <br /> So long as the School Board is not in default of any of the provisions of this <br /> Agreement and the "Lease," as defined below, the School Board will have the right to <br /> enforce in its own name or in the County's name purchase orders or contracts entered in <br /> the County's name or the School Board's name for the Project, including the approval of <br /> any change orders to any contracts; provided however, that if the School Board is in <br /> default of any provisions of this Agreement or the Lease for a period of thirty days after <br /> being notified by the County of such default without cure, the County will have the right <br /> to terminate this Agreement and assume all the School Board's responsibilities for the <br /> Project. <br /> Upon any such termination of this Agreement, the School Board will assign to the <br /> County any and all right, title and interest to any and all contracts relating to the Project, <br /> including but not limited to any architect agreements, any and all engineering <br /> agreements, any and all construction agreements, and any and all plans, specifications <br /> and other drawings or documents prepared or to be prepared for the Project. <br /> 2 <br />
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