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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 1:09:19 PM
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BOCC
Date
10/1/2019
Meeting Type
Regular Meeting
Document Type
Agenda
Agenda Item
6-a
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Agenda 10-01-19 Regular Board Meeting
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Path:
\Board of County Commissioners\BOCC Agendas\2010's\2019\Agenda - 10-01-19 Regular Meeting
Minutes 10-01-2019 Regular Meeting
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Path:
\Board of County Commissioners\Minutes - Approved\2010's\2019
RES-2019-059 Resolution Approving Financing Terms and Documents for 2019 Installment Financing
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Path:
\Board of County Commissioners\Resolutions\2010-2019\2019
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12 <br /> June 1, 2018 (the "2018 Deed of Trust") and recorded at RB 6486, Page 413, Orange <br /> County Registry, which has been previously supplemented by the Deed of Trust <br /> Supplement dated as of May 1, 2019 and recorded at RB 6613, Page 17, Orange <br /> County Registry (that supplement together with the 2018 Deed of Trust, the <br /> "Existing Deed of Trust). The Existing Deed of Trust, as modified by this Supplement, <br /> is referred to as the "Modified Deed of Trust" in this Supplement. <br /> The Mortgaged Property includes the real property and facilities described in <br /> Exhibits A-1 and A-2. 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 2019B Agreement of [$50,000,000] as well as (1) outstanding advances <br /> under the Prior Agreement with respect to the Prior Bonds of approximately <br /> $20,850,000, and (2) potential future advances up to a total maximum principal <br /> amount of$200,000,000, all as described and pursuant to the Existing Deed of Trust. <br /> The time during which such future advances may be made is 30 years from June 1, <br /> 2018. The current scheduled date for final repayment of amounts secured under the <br /> Modified Deed of Trust is October 1, 2039. <br /> NOW, THEREFORE, <br /> (1) in consideration of the execution and delivery of the 2019B Bonds and <br /> the 2019B Agreement and other good and valuable consideration, the receipt and <br /> sufficiency of which the County acknowledges, <br /> (2) to secure the County's performance of all its covenants under this <br /> Supplement, the Existing Deed of Trust, the Prior Agreement, the 2019B Agreement, <br /> the Prior Bonds and the 2019B Bonds (together, the "Loan Documents"), and <br /> (3) to charge the Mortgaged Property with that payment and performance, <br /> the County sells, grants and conveys to the Deed of Trust Trustee, her successors <br /> and assigns forever, in trust, with power of sale, the following (collectively, the <br /> "Mortgaged Property"): <br /> (a) the Mortgaged Property as that term is defined in the Existing Deed of <br /> Trust, which includes the real property and all related improvements and fixtures <br /> show on Exhibit A-1; <br /> 3 <br />
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