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Agenda - 04-21-20; 8-e - Adoption of the Final Financing Resolution Authorizing the Issuance of $40,750,000 in Installment Purchase Financing for Various Capital Investment Plan Projects
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Agenda - 04-21-20; 8-e - Adoption of the Final Financing Resolution Authorizing the Issuance of $40,750,000 in Installment Purchase Financing for Various Capital Investment Plan Projects
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BOCC
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4/21/2020
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Agenda
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8-e
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Agenda 04-21-20 Virtual Business Meeting
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\Board of County Commissioners\BOCC Agendas\2020's\2020\Agenda - 04-21-20 Virtual Business Meeting
Minutes 04-21-2020 Virtual Business Meeting
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\Board of County Commissioners\Minutes - Approved\2020's\2020
RES-2020-026 Resolution authorizing the borrowing of approximately $40,750,000 in installment financing to finance capital investment projects and equipment for the fiscal year
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\Board of County Commissioners\Resolutions\2020-2029\2020
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4 <br /> District Attorney's office building; (b) the County's Emergency Operations Center on <br /> Meadowlands Drive in Hillsborough; (c) the proposed site of the new Northern <br /> County Campus; and (d) 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 Agreements in final form, however, must be consistent with the financing <br /> plan described in this resolution and must provide (a) for the amount financed by the <br /> Town not to exceed $43,000,000, (b) for an annual interest rate not to exceed 2.70% <br /> (in the absence of default, or a change in tax status), and (c) for a financing term not <br /> to extend beyond December 31, 2040. The amount financed under the Documents <br /> may include amounts to pay financing expenses and other necessary and incidental <br /> costs. <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 />
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