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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
Meeting Type
Business
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Agenda
Agenda Item
8-h
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Agenda 04-07-20 Virtual Business Meeting
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\Board of County Commissioners\BOCC Agendas\2020's\2020\Agenda - 04-07-20 Virtual Business Meeting
Minutes 04-07-2020 Virtual Business Meeting
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Path:
\Board of County Commissioners\Minutes - Approved\2020's\2020
RES-2020-022 Resolution Authorizing the Issuance of Approx. $40,000,000 in Installment Purchase Financing for CIP Projects
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\Board of County Commissioners\Resolutions\2020-2029\2020
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5 <br /> the Board's responsibility, to ensure that the Official Statement neither contains an <br /> untrue statement of a material fact nor omits to state a material fact required to be <br /> included therein for the purpose for which the Official Statement is to be used or <br /> necessary to make the statements therein, in light of the circumstances under which <br /> they were made, not misleading. <br /> 4. Officers to Complete Closing - The Board authorizes the County <br /> Manager, the Finance Officer and all other County officers and employees to take all <br /> proper steps to complete the financing in accordance with the terms of this <br /> resolution. <br /> The Board authorizes the County Manager to hold executed copies of all <br /> financing documents authorized by this resolution in escrow on the County's behalf <br /> until the conditions for their delivery have been completed to her satisfaction, and <br /> then to release the executed documents for delivery to the appropriate persons or <br /> organizations. <br /> Without limiting the generality of the previous paragraphs, the Board <br /> specifically authorizes the County Manager (a) to approve and enter into, on behalf of <br /> the County, any additional agreements appropriate to carry out the financing plan <br /> contemplated by this resolution, and (b) to approve changes to any documents <br /> previously signed by County officers or employees, provided that the changes do not <br /> substantially alter the intent from that expressed in the form originally signed. The <br /> County Manager's authorization of the release of any document for delivery will <br /> constitute conclusive evidence of her approval of any changes. <br /> In addition, the County Manager and the Finance Officer are authorized to take <br /> all appropriate steps for the efficient and convenient carrying out of the County's on- <br /> going responsibilities with respect to the financing. This authorization includes, <br /> without limitation, contracting with third parties for reports and calculations that may <br /> be required under the Documents, this resolution or otherwise with respect to the <br /> bonds. <br /> 5. Other Financing Participants - Sanford Holshouser LLP will serve as <br /> the County's bond counsel. Davenport & Company LLC will serve as the County's <br /> financial adviser. The Bank of New York Mellon Trust Company, N.A., will serve as <br /> Trustee under the Supplemental Trust Agreement referenced in Exhibit B. <br />
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