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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
Date
5/2/2019
Meeting Type
Regular Meeting
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Agenda
Agenda Item
6-a
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Agenda 05-02-2019 Regular Board Meeting
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\Board of County Commissioners\BOCC Agendas\2010's\2019\Agenda - 05-02-19 Regular Meeting
Minutes 05-02-2019 Regular Meeting
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\Board of County Commissioners\Minutes - Approved\2010's\2019
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13 <br /> 1-3 Waiver of Rights To Release. The County waives and surrenders its <br /> rights under Section 1-6(c) of the 2018 Deed of Trust to release buildings and related <br /> property without otherwise complying with the requirements of Section 1-6(b) of the <br /> 2018 Deed of Trust <br /> 1-4 2018 Deed of Trust Otherwise Confirmed. Except as provided by <br /> this Supplement, the County ratifies, approves and confirms the terms of the 2018 <br /> Deed of Trust. <br /> 1-5 County's Obligation Limited. Notwithstanding any other provision <br /> of the Loan Documents, the parties intend that this transaction will comply with <br /> North Carolina General Statutes Section 160A-20. No deficiency judgment may be <br /> entered against the County in violation of Section 160A-20. <br /> No provision of this Supplement should be construed or interpreted as <br /> creating a pledge of the County's faith and credit within the meaning of any <br /> constitutional debt limitation. No provision of this Supplement should be construed <br /> or interpreted as an illegal delegation of governmental powers, nor as an improper <br /> donation or lending of the County's credit within the meaning of the North Carolina <br /> constitution. The County's taxing power is not and may not be pledged, directly or <br /> indirectly contingently, to secure any moneys due under this Supplement. <br /> Nothing in this Section is intended to impair or prohibit foreclosure under the <br /> Modified Deed of Trust if the Obligations are not paid when due or otherwise upon <br /> the occurrence of an Event of Default under the Loan Documents. <br /> No provision of this Supplement restricts the County's future issuance of any <br /> of its bonds or other obligations payable from any class or source of the County's <br /> moneys (except to the extent the Loan Documents restrict the incurrence of <br /> additional obligations secured by the Mortgaged Property). <br /> To the extent of any conflict between this Section and any other provision of <br /> this Supplement, this Section takes priority. <br /> 2. Miscellaneous <br /> 2-1 Notices. <br /> s <br />
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