Orange County NC Website
.(3) The Clerk of the Board of Commissioners is hereby <br />authorized and directed to provide a certified copy of this <br />resolution to the DECD. <br />(4) The Board of County Commissioners hereby requests <br />that the state of North Carolina, pursuant to Chapter 588 of <br />the 1987 North Carolina General Session Laws, or any other <br />executive order or legislation relating to volume <br />limitations on tax - exempt financing, allocate to the above - <br />described revenue bonds and Project $5,500,000 of "unified <br />volume limitation" (as described in said Session Laws or in <br />any such other executive order or legislation), and acknow- <br />ledges that any such allocation shall be only for purposes <br />of said Project and that any portion of such allocation not <br />utilized in connection with such bonds and Project or which <br />terminates or expires as provided in said Session Laws will, <br />without further action, revert to the State of North <br />Carolina, and there is hereby approved the application by <br />the Authority for such an allocation. <br />(5) This resolution shall take effect immediately upon <br />its passage. <br />Commissioner Willhoit moved the passage of the <br />foregoing resolution and Commissioner Marshall seconded the <br />motion, and the resolution was passed by the following vote: <br />AYES: Chairman Carey, Commissioners Hartwell, Marshall and <br />Willhoit <br />NAYS: None <br />