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16 <br /> These funds account for assets held by the County as an agent for other government units, <br /> and by State Statutes, these funds are not subject to appropriation by the Board of County <br /> Commissioners, and not included in this ordinance. <br /> Section XIII. Other Post-Employment Benefits (OPEB) Trust Fund <br /> The Board of Commissioners approves the following resolution as a part of the Budget <br /> Ordinance to formally establish an OPEB Trust Fund: <br /> WHEREAS, the Local Government Other Post-Employment Benefits Fund (the "OPEB Fund") <br /> established pursuant to North Carolina General Statutes ("NCGS") Section 147-69.4 consists <br /> of contributions made by local governments, public authorities and other entities authorized to <br /> make contributions to the OPEB Fund ("Participants"), which contributions are irrevocable; <br /> WHEREAS, the assets of the OPEB Fund are not subject to the claims of creditors of any <br /> Participants and may only be withdrawn by a Participant to provide other postemployment <br /> benefits to individuals, who are former employees, or beneficiaries of former employees of the <br /> Participant, and who are entitled to other post-employment benefits payable by the Participant <br /> within the meaning of NCGS Section 147-69.4; and <br /> WHEREAS, the Commissioners of Orange County, North Carolina has determined that it is <br /> advisable and in the best interests of Orange County, North Carolina to make contributions to <br /> the OPEB Fund, as provided in that certain Contribution Agreement between Orange County, <br /> North Carolina and the Treasurer, the form of which has previously been made available to <br /> the Commissioners of Orange County, North Carolina (the "Contribution Agreement"). <br /> NOW, THEREFORE, BE IT RESOLVED, that the Commissioners hereby acknowledges and <br /> approves an initial contribution of $250,000 to the OPEB Fund (the "Contribution") pursuant to <br /> the terms and conditions of the Contribution Agreement between Orange County, North <br /> Carolina and the Treasurer in the form presented to the Commissioners; <br /> FURTHER RESOLVED, that the appropriate officers, managers, and representatives of <br /> Orange County, North Carolina (the "Authorized Representatives") are hereby authorized <br /> and directed to execute and deliver the Contribution Agreement, to take any other actions <br /> deemed necessary or appropriate to consummate the transactions provided for therein, and to <br /> cause the Contribution to be made; <br /> FURTHER RESOLVED, that all actions heretofore taken by any of the Authorized <br /> Representatives of Orange County, North Carolina acting on behalf of the County in <br /> furtherance of the foregoing resolutions are hereby ratified, adopted, approved and confirmed <br /> in all respects; and <br /> FURTHER RESOLVED, that the Authorized Representatives of Orange County, North <br /> Carolina acting on behalf of the County are hereby authorized to take all such other actions <br /> as they may deem necessary or appropriate to give effect to the foregoing resolutions. <br /> Section XIV. Encumbrances <br />