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4 <br /> Under the financing plan, the County will receive funds from the sale of the <br /> limited obligation bonds to carry out the projects and the refinancings. The County <br /> will repay the funds over time, with interest. The County will secure its repayment <br /> obligation by granting a mortgage-like interest in some or all of the following <br /> facilities: (a) the County's Government Services Annex at 208 S. Cameron St. in <br /> Hillsborough, along with the County's Link Center and the District Attorney's office <br /> building; (b) the County's Emergency Operations Center on Meadowlands Drive in <br /> Hillsborough; (c) the County's Visitors Center on Franklin St. in Chapel Hill; (d) the <br /> proposed site of the new Northern County Campus; and (e) the County's Southern <br /> Campus in Chapel Hill. <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 the Documents when in final form. The Documents in their respective final <br /> forms must be in substantially the forms presented, with changes as the Chair or the <br /> County Manager may approve. The execution and delivery of any Document by an <br /> authorized County officer will be conclusive evidence of that officer's approval of <br /> any changes. <br /> The Documents in final form, however, must provide for the principal amount <br /> of limited obligation bonds to not exceed $37,000,000, an annual true interest cost <br /> of the financing not to exceed 3.75%, and a financing term not to extend beyond <br /> December 31, 2039. Any obligations to be refinanced should be refinanced over <br /> approximately the same financing term as the existing obligation. The amount <br /> financed under the Documents may include amounts to pay financing expenses and <br /> other necessary and incidental costs. <br /> 3. Sale of Bonds; Approval of Official Statement - The Board appoints <br /> Robert W. Baird & Co. Incorporated, as senior manager, and FTN Financial Capital <br /> Markets, as co-manager, 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 underwriters <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 /> 2 <br />