Agenda - 06-23-2005-8b - Laserfiche WebLink

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`~ It is the Board's intention that the County should issue the maximum amount of bonds referred to in Section 1 above, and as many of the Refunding Bonds as are necessary and appropriate to carry out the planned refunding. The Finance Officer, however, in consultation with the County Manager and the LGC, may approve the issuance of lesser (but not greater) amounts of Referendum Bonds for any of the stated purposes. The Finance Officer is also authorized and directed to determine the final aggregate principal amount of Refunding Bonds to be issued, up to the $35,000,000 authorized maximum. The Finance Officer will execute a certificate prior to the initial delivery of the Bonds designating the final principal amount of bonds to be issued for each purpose, the principal payment schedule for the Bonds and the principal and interest payment dates for the Bonds. This certificate will be conclusive evidence of the Finance Officer's approval and determination of such matters. 4. Pledge of Faitl:, Credit a~:d Taxii:g Power -- The County's full faith and credit are hereby irrevocably pledged for the payment of the principal of and interest on the Bonds. Unless other funds are lawfully available and appropriated for timely payment of the Bonds, the County will levy and collect an annual ad valorem tax, without restriction as to rate or amount, on all locally taxable property in the County sufficient to pay the principal of and interest on the Bonds as the same become due. 5. Approval of Official Statement for Offering - the Bonds will be offered for sale pursuant to an official statement (the "Official Statement") relating to the Bonds in such form as the Finance Officer and County Manager, in consultation with the LGC, may deternine. This Official Statement shall be in a form substantially similar to the form of such documents as previously used by the County for prior sales of general obligation bonds. The Official Statement must have all appropriate updating of infornration and such other changes as may be necessary or appropriate to provide for such Official Statement to be accurate and complete in all material respects given its intended use in the marketing of the County's bonds. The Board acknowledges that it is the County's responsibility to ensure that the Official Statement, ili its final form, neither contains an untrue statement of a material fact nor omits to state a material fact required to be included therein for the purpose for which such Official Statement is to be used or necessary to make the statements therein, in light of the circumstances under which they were made, not misleading, By the adoption of this resolution, the Board members aclrnowledge and accept their responsibility for causing the County to fulfill these responsibilities for the Official Statement.