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3 <br /> RES-2020-026 Attachment 1 <br /> s*h draft of Mri18 <br /> Resolution providing final approval of terms and <br /> documents for Spring 2020 installment financing <br /> WHEREAS- <br /> The Board of Commissioners has previously determined to carry out various <br /> public improvements and acquisitions, as identified in the County's capital <br /> improvement plan and as described on Exhibit A. The Board has determined to carry <br /> out the financings by using an installment financing, as authorized under Section <br /> 160A-20 of the North Carolina General Statutes. <br /> Capital One Public Funding, LLC (the "Lender"), has submitted a proposal to <br /> provide the financing. County staff has made available to the Board the draft <br /> documents listed on Exhibit B (the "Documents"), which relate to the County's <br /> carrying out the financing plan. <br /> This resolution provides the County Board's final approval of the financing <br /> terms and the substantially final financing documents. <br /> BE IT THEREFORE RESOLVED by the Board of Commissioners of Orange <br /> County, North Carolina, as follows: <br /> 1. Determination to Proceed with Financing -- The Board confirms its <br /> decision to carry out the proposed installment financing as described above, to <br /> provide financing for new public assets and improvements. The County will carry out <br /> the projects with financing from the Lender substantially in accordance with a <br /> financing proposal from the Lender dated April 1, 2020. <br /> Under the financing plan, the County will receive funds from the Lender to <br /> carry out the projects. The County will repay the funds over time, with interest. The <br /> County will secure its repayment obligation by granting a mortgage-like interest in <br /> some or all of the following facilities: (a) the County's Government Services Annex at <br /> 208 S. Cameron St. in Hillsborough, along with the County's Link Center and the <br />