RES-2019-059 Resolution Approving Financing Terms and Documents for 2019 Installment Financing

Browse Search

4. Call of Existing Obligations for Prepayment - - The Board authorizes the Finance Officer to make , on. the County' s behalf, an irrevocable call for redemption or prepayment of such of the obligations shown on Exhibit B as the Finance Officer deems beneficial to the County. The Finance Officer will make this call for redemption by the execution and delivery of an appropriate certificate in connection with the original delivery of the planned limited obligation bonds . 5. Officers to Complete Closing - The Board authorizes the County Manager, the Finance Officer and all other County officers and employees to take all proper steps to complete the financing in accordance with the terms of this resolution . The Board authorizes the County Manager to hold executed copies of all financing documents authorized by this resolution in escrow on the County ' s behalf until the conditions for their delivery have been completed to her satisfaction, and then to release the executed documents for delivery to the appropriate persons or organizations . Without limiting the generality of the previous paragraphs , the Board specifically authorizes the County Manager (a) to approve and enter into , on behalf of the County, any additional agreements appropriate to carry out the financing plan contemplated by this resolution, and (b ) to approve changes to any documents previously signed by County officers or employees , provided that the changes do not substantially alter the intent from that expressed in the form originally signed . The County Manager ' s authorization of the release of any document for delivery will constitute conclusive evidence of her approval of any changes . In addition, the County Manager and the Finance Officer are authorized to take all appropriate steps for the efficient and convenient carrying out of the County' s on - going responsibilities with respect to the financing. This authorization includes, without limitation, contracting with third parties for reports and calculations that may be required under the Documents, this resolution or otherwise with respect to the bonds . 6. Other Financing Participants - Sanford Holshouser LLP will serve as the County' s bond counsel . Davenport & Company LLC will serve as the County' s financial adviser. The Bank of New York Mellon Trust Company, N .A . , will serve as Trustee under the Supplemental Trust Agreement referenced in Exhibit B . 7. Miscellaneous Provisions - The Board authorizes all County officers and employees to take all further action as they may consider desirable to carry out the purposes of this resolution . In particular, the Board directs the Clerk to this Board to apply 3