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Agenda 05-02-2019 - 6-a - Adoption of the Final Financing Resolution Authorizing the Issuance of $16,950,000 in Installment Purchase Financing for Various Capital Investment Plan Projects
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Agenda 05-02-2019 - 6-a - Adoption of the Final Financing Resolution Authorizing the Issuance of $16,950,000 in Installment Purchase Financing for Various Capital Investment Plan Projects
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BOCC
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5/2/2019
Meeting Type
Regular Meeting
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Agenda
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Agenda 05-02-2019 Regular Board Meeting
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10 <br /> THIS DEED OF TRUST SUPPLEMENT (this "Supplement") is dated as of May <br /> 1, 2019, and is granted by ORANGE COUNTY, NORTH CAROLINA, a political <br /> subdivision of the State of North Carolina (the "County"), to Amy K. Johnson, as <br /> trustee (the "Deed of Trust Trustee"), for the benefit of THE BANK OF NEW YORK <br /> MELLON TRUST COMPANY, N.A.,AS TRUSTEE ("BNY-M"). <br /> RECITALS: <br /> The County is issuing its $ Limited Obligation Bonds, Series 2019 <br /> (the "2019 Bonds"), under a First Supplemental Trust Agreement dated as of May 1, <br /> 2019 (the "2019 Agreement"), between the County and BNY-M, as trustee. The <br /> County is issuing the 2019 Bonds to provide funds, to be used together with other <br /> available funds, to acquire, construct, equip and otherwise improve a variety of <br /> County facilities and assets, as well as to pay financing costs and other related costs. <br /> The 2019 Agreement supplements a Trust Agreement dated as of June 1, <br /> 2018 (the "2018 Agreement"), between the County and BNY-M, as trustee. Under <br /> the 2018 Agreement, the County issued its $7,S10,000 Limited Obligation Bonds, <br /> Series 2018 (the "2018 Bonds"), and secured its repayment obligation with respect <br /> to the 2018 Bonds by granting a security interest in the Mortgaged Property, as <br /> defined below. <br /> The parties have now agreed that the Mortgaged Property will also secure the <br /> County's repayment obligations with respect to the 2019 Bonds as provided in the <br /> 2019 Agreement. <br /> Accordingly, this Supplement supplements the Deed of Trust and <br /> Security Agreement granted by the County for the benefit of BNY-M dated as of <br /> June 1, 2018 (the "2018 Deed of Trust"), and recorded at RB 6486, Page 413, Orange <br /> County Registry. <br /> The Mortgaged Property includes the real property and facilities described in <br /> Exhibit A. The County is the record owner of that real property. <br /> The County executes and delivers this Supplement to secure current advances <br /> under the 2019 Agreement of$ _as well as outstanding advances under <br /> 2 <br />
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