Orange County NC Website
4 <br /> authorizes the Chair and the County Manager,or either of them,to execute and deliver <br /> the Documents when in final form. The Documents in their respective final forms <br /> must be in substantially the forms presented,with changes as the Chair or the County <br /> Manager may approve. The execution and delivery of any Document by an authorized <br /> County officer will be conclusive evidence of that officer's approval of any changes. <br /> The Documents in final form, however, must be consistent with the financing <br /> plan described in this resolution and must provide (a) for the amount financed by the <br /> County not to exceed $14,500,000, (b) for an annual interest rate or rates not to <br /> exceed 3.83% (in the absence of default, or a change in tax status as may be described <br /> in the final Documents), and (c) for a financing term not to extend beyond February <br /> 1, 2043. The amount financed under the Documents may include amounts to pay <br /> financing expenses and other necessary and incidental costs. <br /> 3. Officers To Complete Closing - The Board authorizes the County <br /> Manager, the Finance Officer and all other County officers and employees to take all <br /> proper steps to complete the financing in accordance with this resolution. <br /> The Board authorizes the County Manager to hold executed copies of all <br /> financing documents authorized by this resolution in escrow on the County's behalf <br /> until the conditions for their delivery have been completed to her satisfaction, and <br /> then to release the executed documents for delivery to the appropriate persons or <br /> organizations. <br /> Without limiting the generality of the previous paragraphs, the Board <br /> specifically authorizes the County Manager (a) to approve and enter into, on behalf of <br /> the County, any additional agreements appropriate to carry out the financing plan <br /> contemplated by this resolution, and (b) to approve changes to any documents <br /> previously signed by County officers or employees, provided that the changes do not <br /> 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 County Manager and the Finance Officer are authorized to take <br /> all appropriate steps for the efficient and convenient carrying out of the County's on- <br /> going responsibilities with respect to the financing. This authorization includes, <br /> without limitation, contracting with third parties for reports and calculations that may <br /> 2 <br />