Orange County NC Website
Browse       Search
7 <br /> Board of Commissioners passed on December 5, 1994 . The Chairman of <br /> the Board of Commissioners, the County Manager of the County, the <br /> Finance Director of the County and the Clerk to the Board of <br /> Commissioners are hereby authorized and directed to execute and <br /> deliver the Agreement, the Installment Purchase Contract, the Deed <br /> of Trust and the Lease, as may be applicable, in substantially the <br /> forms presented to the County, together with such additions, <br /> changes, modifications and deletions as they, with the advice of <br /> counsel, may deem necessary and appropriate, and such execution and <br /> delivery shall be conclusive evidence of the approval and <br /> authorization thereof by the Board of Commissioners and the County; <br /> provided, however, that the County Manager or the Finance Director <br /> of the County or his respective designee shall determine that the <br /> price to be paid by the County for the Site under the Agreement <br /> does not exceed $100 and that, under the Installment Purchase <br /> Contract, the final Installment Payment is due not later than July <br /> 15, 2009, the maximum stated interest rate with respect to any <br /> interest component of the Installment Payments does not exceed <br /> 5.71% per annum and the aggregate amount of the principal <br /> components of the Installment Payments does not exceed $9 , 600, 000. <br /> Section 4 . The Board of Commissioners hereby approves, <br /> ratifies and confirms the actions of the Assistant County Manager, <br /> the Finance Director and the County Attorney of the County in <br /> connection with this matter. <br /> Section 5. The officers and employees of the County are <br /> authorized and directed (without limitation except as may be <br /> 6 <br />