Orange County NC Website
Browse       Search
<br />Resolution Providing Final Approval of Terms and Documents <br />For County's 2006 Installment Financing <br />WHEREAS: <br />The Boai°d of Commissioners of Orange County, North Carolina, has <br />previously determined to carry out a plan to finance certain public projects, as <br />described on Exhibit A (the "Projects"), tlu-ough the use of an installment financing <br />inchiding certificates ofparticipation. <br />The County's Finance Officer has made available to this Board the draft <br />documents listed on Exhibit B (the "Documents"), and a draft of an official <br />statement providing for the disclosure of infoi°mation to prospective investors in <br />the County's financing obligations, All of these items relate to the County's <br />carrying out the financing plan. <br />BE IT THEREFORE RESOLVED by the Board of Commissioners of <br />Orange County, North Carolina, as follows: <br />1. Determir:atiorc To Proceed with Projects -- The Board confines its <br />decision to cant' out the financing plan for the Projects. This plan includes the <br />County's acgluring the site of the new Gravelly Hill Middle School fi-om the <br />Orange Comity school board to facilitate the financing plan; the Board approves <br />the County's acquisition of such property, and hereby directs the County Manager <br />and the Cormty Attonley to take all appropi°iate action toward that end. <br />Z. AI7~1'07~C1i Oj° DOCllnrerZtS~ Direction To Execute Documents -- The <br />Board approves the forms of the Documents submitted to this meeting. The Board <br />author°izes and directs the Board's Chair and the Cormty Manager, or either of <br />them, to execute and deliver those Documents to which t11e County is a party. The <br />Documents in their respective final foinis mist be in substantially the forms <br />presented, with such changes as the Chair or the County Manager may approve, <br />The execution and delivery of any Document by an author°ized Cormty off cei° will <br />be conclusive evidence of his approval of any such changes. The Documents in <br />final form, however, must provide for the amount financed by the County not to <br />exceed $24,000,000 and for a financing teen not to extend beyond December 31, <br />'2026. <br />93869v3 <br />