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RES-2021-032-Resolution providing final approval of terms and documents for Spring 2021 installment financing for capital projects and loan refinancings
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RES-2021-032-Resolution providing final approval of terms and documents for Spring 2021 installment financing for capital projects and loan refinancings
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Last modified
5/20/2021 9:05:03 AM
Creation date
5/20/2021 8:53:24 AM
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BOCC
Date
5/18/2021
Meeting Type
Business
Document Type
Agenda
Agenda Item
8-ei
Document Relationships
Agenda - 05-18-2021;12-2 - Information Item - Memorandum - Blackwood Farm Park – Phase II Status Report
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\Board of County Commissioners\BOCC Agendas\2020's\2021\Agenda - 05-18-2021 Virtual Business Meeting
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substantially alter the intent from that expressed in the form originally signed . The <br /> County Manager ' s authorization of the release of any document for delivery will <br /> constitute conclusive evidence of her approval of any changes . <br /> In addition, the Board authorizes the County Manager and the Finance Officer <br /> to take all appropriate steps for the efficient and convenient carrying out of the <br /> County' s on - going responsibilities with respect to the financing . This authorization <br /> includes, without limitation, contracting with third parties for reports and calculations <br /> that may be required under the Documents , this resolution or otherwise with respect <br /> to the bonds . <br /> 5, Other Financing Participants - Sanford Holshouser LLP will serve as <br /> the County' s bond counsel . Davenport & Company LLC will serve as the County' s <br /> financial adviser. The Bank of New York Mellon Trust Company, N .A. , will serve as <br /> Trustee under the Trust Agreement referenced in Exhibit C . <br /> 6. Redemption of Prior Obligations - The Board directs the Finance <br /> Officer to make, on the County' s behalf, an irrevocable call for prepayment or <br /> redemption of such of the County' s existing loan and financing obligations as the <br /> Finance Officer deems beneficial to the County, including any or all of obligations <br /> described in Exhibit B . The Finance Officer shall make this call for redemption by the <br /> execution and delivery of an appropriate certificate in connection with the original <br /> delivery of the Documents . <br /> 7. Release of County Library Property - The County requests that The <br /> Bank of New York Mellon Trust Company, N .A ., as Trustee , release the existing <br /> financing lien on the Orange County Library property in Hillsborough . This property <br /> currently secures an existing County financing. The County wants the existing lien <br /> released so the Library property can form part of the collateral for this 2021 financing . <br /> This will facilitate the County' s plan of refinancing some existing loans . <br /> 8. Additional Provisions - The Board authorizes all County officers and <br /> employees to take all further action as they may consider desirable to carry out the <br /> purposes of this resolution . In particular, the Board directs the Clerk to this Board to <br /> apply the County' s seal to the final form Documents , and to attest to the application <br /> of the seal . The Board ratifies all prior actions of County officers and employees to this <br /> 4 <br />
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