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VW <br /> RES - 2020 - 042 <br /> RESOLUTION <br /> ORANGE COUNTY BOARD OF COMMISSIONERS <br /> ORANGE COUNTY , NORTH CAROLINA <br /> WHEREAS , the Orange County Board of Education wishes to enter into a continuing <br /> contract for financing with J . P . Morgan , LLC pursuant to N . C . Gen . Stat . § 115C - 528 for the <br /> purchase of certain computer hardware , software , and related equipment to be used for public <br /> school purposes ; and <br /> WHEREAS , the contract will require the Board of Education to pay J . P . Morgan up to <br /> $ 3 , 084 , 467 . 76 over the 2020 - 21 , 2121 - 22 , 2022 - 23 , and 2023 - 24 fiscal years ; and <br /> WHEREAS , the Board of Education will pay J . P . Morgan in approximate installments of <br /> $ 771 , 116 . 94 in the 2020 - 21 fiscal year , $ 771 , 116 . 94 in the 2021 - 22 fiscal year, $ 771 , 116 . 94 in the <br /> 2022 - 23 fiscal year, and $ 771 , 116 . 94 in the 2023 - 24 fiscal year ; and <br /> WHEREAS , the contract may be a continuing contract for capital outlay subj ect to the <br /> provisions of N . C . Gen . Stat . § § 115C - 441 ( c 1 ) and 115C - 528 , including the approval of the Orange <br /> County Board of Commissioners . <br /> NOW, THEREFORE , BE IT HEREBY RESOLVED , that the Orange County Board of <br /> Commissioners agrees to appropriate sufficient funds to the Orange County Board of Education in <br /> ensuing fiscal years to meet the J . P . Morgan contract obligations so long as the amount the Board of <br /> Education shall be obligated to pay under that contract shall be generally equal to the amounts noted <br /> above . Said funds shall be a part of, and not in addition to , regular appropriations made to the <br /> Board of Education . Said funds obligated by this contract for fiscal years 2020 - 21 , 2021 - 22 , 2022 - <br /> 23 , and 2023 - 24 shall be budgeted by the Board of Education for this purpose , and the Orange <br /> County Board of Commissioners shall not be obligated to increase its annual appropriation to the <br /> Orange County Board of Education by the amount due under the contract . <br /> A opted and resolved , this the day of , 2020 by the Orange County Board <br /> of Commissioners ,i <br /> Pey Rich, ha ' r ��� 1� 4t <br /> Orange Cou y ar of mm ' stoners <br /> Vpl A ,4;P <br /> 17 52 <br /> Donna Ba er < � : <br /> Clerk to the Board ' .tt �; a�� ` ' <br />