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RES-2020-021 Resolution for the sale of General Obligation Bonds for Cedar Ridge High School Wing and Various other Orange County School Improvements
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RES-2020-021 Resolution for the sale of General Obligation Bonds for Cedar Ridge High School Wing and Various other Orange County School Improvements
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Last modified
9/1/2020 11:57:05 AM
Creation date
9/1/2020 11:51:09 AM
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BOCC
Date
4/7/2020
Meeting Type
Business
Document Type
Resolution
Agenda Item
8-g
Document Relationships
Agenda 04-07-20 Virtual Business Meeting
(Attachment)
Path:
\Board of County Commissioners\BOCC Agendas\2020's\2020\Agenda - 04-07-20 Virtual Business Meeting
Agenda - 04-07-20; 8-g - General Obligation Bond Sale of $20,060,000 for Cedar Ridge Wing and Various Other OCS Improvements
(Attachment)
Path:
\Board of County Commissioners\BOCC Agendas\2020's\2020\Agenda - 04-07-20 Virtual Business Meeting
Minutes 04-07-2020 Virtual Business Meeting
(Attachment)
Path:
\Board of County Commissioners\Minutes - Approved\2020's\2020
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in the County sufficient to pay the principal of and interest on the Bonds as the same <br /> become due . <br /> 4. Approval of Official Statement for Offering - There has been made <br /> available to each member of the Board a draft of an official statement (the " Official <br /> Statement " ) relating to the Bonds , which is designed to provide appropriate <br /> information about the County and the financing to prospective investors in the <br /> Bonds . The draft Official Statement remains , subject to completion and amendment . <br /> The Board approves the LGC ' s distribution of the Official Statement to <br /> prospective purchasers of the Bonds . The Official Statement as distributed must be <br /> in substantially the form presented to this meeting, which the Board approves , with <br /> changes as the Finance Officer may approve . The Board ratifies the prior actions of <br /> the Finance Officer and other County representatives , in collaboration with the LGC <br /> staff, in preparing the text of the Official Statement, <br /> The Board acknowledges that it is the County' s responsibility, and ultimately <br /> the Board 's responsibility, to ensure that the Official Statement in its final form <br /> neither contains an untrue statement of a material fact nor omits to state a material <br /> fact required to be included therein for the purpose for which the Official Statement <br /> is to be used or necessary to make the statements therein, in light of the <br /> circumstances under which they were made , not misleading. By the adoption of this <br /> resolution, the Board members acknowledge and accept their own responsibility for <br /> causing the County to fulfill these responsibilities for the Official Statement . <br /> The County deems the Official Statement as distributed by the LGC to be a <br /> " final official statement" within the meaning of Rule 15c242 of the Securities <br /> Exchange Act of 1934 , as amended ( " Rule 15c242 " ) , except for the omission of <br /> certain final Bond pricing and other information that Rule 15c2 - 12 allows to be <br /> omitted . <br /> 5. Prepayment Provisions - The Board directs the Finance Officer, upon <br /> advice from the LGC , to determine the terms and conditions under which the Bonds <br /> will be subject to prepayment prior to maturity. The Finance Officer shall execute a <br /> certificate prior to the initial delivery of the Bonds designating prepayment terms <br /> 2 <br />
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