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4 <br /> granting a mortgage-like interest in the property of Morris Grove Elementary School <br /> and the County office building on West Margaret Lane in Hillsborough. <br /> 2. Approval of Documents; Direction To Execute Documents -- The <br /> Board approves the forms of the Documents submitted to this meeting. The Board <br /> authorizes the Chair and the County Manager, or either of them, to execute and <br /> deliver those Documents to which the County is a party. The Documents in their <br /> respective final forms must be in substantially the forms presented, with changes as <br /> the Chair or the County Manager may approve. The execution and delivery of any <br /> Document by an authorized County officer will be conclusive evidence of that <br /> officer's approval of any changes. <br /> The Documents in final form, however, must provide for the principal amount <br /> of limited obligation bonds to not exceed $51,000,000, a true interest cost of the <br /> financing not to exceed , and a financing term not to extend beyond <br /> December 31, 20 (and not extending beyond the latest bond payment date of any <br /> of the obligations refinanced). The amount financed under the Documents may <br /> include amounts to pay financing expenses and other necessary and incidental costs. <br /> 3. Sale of Bonds; Approval of Official Statement - The Board appoints <br /> Robert W. Baird & Co. to underwrite a public offering of the proposed limited <br /> obligation bonds. <br /> The Board approves the draft official statement submitted to this meeting as <br /> the form of the preliminary official statement pursuant to which the underwriter <br /> will offer the bonds for sale. The preliminary official statement as distributed to <br /> prospective investors must be in substantially the form presented, with such <br /> changes as the Finance Officer may approve. The Board directs the Finance Officer, <br /> after the sale of the bonds, to complete and otherwise prepare the preliminary <br /> official statement as an official statement in final form. <br /> The Board authorizes the use of the preliminary official statement and the <br /> final official statement (collectively, the "Official Statement") by the underwriter in <br /> connection with the sale of the bonds. <br /> The Board acknowledges that it is the County's responsibility, and ultimately <br /> the Board's responsibility, to ensure that the Official Statement in its final form <br /> neither contains an untrue statement of a material fact nor omits to state a material <br /> 2 <br />