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Agenda 10-01-19 Item 6-a - Adoption of the Final Financing Resolution Authorizing the Issuance of $37,000,000 in Installment Purchase Financing for Various CIP Projects Including Refinancing County Debt
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Agenda 10-01-19 Item 6-a - Adoption of the Final Financing Resolution Authorizing the Issuance of $37,000,000 in Installment Purchase Financing for Various CIP Projects Including Refinancing County Debt
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9/26/2019 1:13:08 PM
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BOCC
Date
10/1/2019
Meeting Type
Regular Meeting
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Agenda
Agenda Item
6-a
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Agenda 10-01-19 Regular Board Meeting
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\BOCC Archives\Agendas\Agendas\2019\Agenda - 10-01-19 Regular Meeting
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15 <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 /> (a) Any communication provided for in this Supplement must be in writing <br /> (not to include facsimile transmission or electronic mail). <br /> (b) Any communication under this Supplement will be deemed given on <br /> the delivery date shown on a United States Postal Service certified mail receipt, or a <br /> delivery receipt (or similar evidence) from a national commercial package delivery <br /> service, if addressed as follows: <br /> (i) if to the County, to Orange County Manager, Re: Notice under <br /> 2019B LOBS Deed of Trust, Post Office Box 8181, Hillsborough, NC 27278 <br /> (ii) if to the Deed of Trust Trustee, to Deed of Trust Trustee, c/o <br /> The Bank of New York Mellon Trust Company, N.A., Re: Notice for 2019B <br /> 6 <br />
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