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Agenda - 04-07-20; 8-h - Adoption of the Final Resolution Authorizing the Issuance of Approx. $40,000,000 in Installment Purchase Financing for CIP Projects
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Agenda - 04-07-20; 8-h - Adoption of the Final Resolution Authorizing the Issuance of Approx. $40,000,000 in Installment Purchase Financing for CIP Projects
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4/3/2020 9:51:48 AM
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BOCC
Date
4/7/2020
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Business
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Agenda
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8-h
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Agenda 04-07-20 Virtual Business Meeting
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4 <br /> County's Link Center and the District Attorney's office building; (b) the County's <br /> Emergency Operations Center on Meadowlands Drive in Hillsborough; (c) the <br /> County's Visitors Center on Franklin St. in Chapel Hill; (d) the proposed site of the <br /> new Northern County Campus; and (e) the County's Southern Campus in Chapel Hill. <br /> 2. Approval of Documents;Direction to Execute Documents--The Board <br /> 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 deliver <br /> the Documents when in final form. The Documents in their respective final forms <br /> must be in substantially the forms presented,with changes as the Chair or the County <br /> Manager may approve. The execution and delivery of any Document by an authorized <br /> County officer will be conclusive evidence of that officer's approval of any changes. <br /> The Documents in final form, however, must provide for the principal amount <br /> of limited obligation bonds to not exceed $45,000,000, an annual true interest cost of <br /> the financing not to exceed 5.50%, and a financing term not to extend beyond <br /> December 31, 2040.The amount financed under the Documents may include amounts <br /> to pay financing expenses and 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 FHN 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 will <br /> offer the bonds for sale. The preliminary official statement as distributed to <br /> prospective investors must be in substantially the form presented,with such changes <br /> as the Finance Officer may approve. The Board directs the Finance Officer, after the <br /> sale of the bonds, to complete and otherwise prepare the preliminary official <br /> statement as an official statement in final form. <br /> The Board authorizes the use of the preliminary official statement and the final <br /> official statement (collectively, the "Official Statement") by the underwriters in <br /> connection with the sale of the bonds. <br /> The Board acknowledges that it is the County's responsibility, and ultimately <br />
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