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REIMBURSEMENT RESOLUTTON -- <br />ORANGECOUNTYSENIORCENTER6PR0 (T <br />WHEREAS, the Manager and Finance Officer have described to the <br />Boazd the desirability of adopting a resolution, as provided uvder federal fax ]aw, <br />to facilitate the County's using Cmancmg proceeds to restore [he County's fuvds <br />when the County makes capital expenditures prior m dosing on a bond issue or <br />other financing. <br />BE IT RESOLVED by the Hoard of Commissioners of Orange County, <br />North Carolina, as the governing board ofOrmrge Couvty, as follows: <br />Sa[ion 1. The project is providing senior centers for Orange <br />County. <br />C tivn The project is to be financed. The currently expected <br />type oC financing (which ie avbjeU to cheuge) ie County general obligation bovds. <br />The currently expected maximum amount of bonds or other obligations to be <br />issued or contracted for Ne project is $4,000,000. <br />6 tin Funda that have been advanced, or may be advanced, <br />from the Cvunty's General Fuvd, Cor project costs are intended iq be reimbursed <br />fiom the financing proceeds. <br />9ec~o~ The edopfion of this resolution is ivtcnded as a <br />dcclam[ion of [lils County's of5cial intent m reimburse project expendimres from <br />financing proceeds. <br />Rm~dAesultSResAtt11r9 <br />