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Agenda 05-16-2023; 8-c - Adoption of the Final Resolution Authorizing 2023 Installment Financing for Various Capital Investment Plan Projects for Up to $14,500,000
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Agenda 05-16-2023; 8-c - Adoption of the Final Resolution Authorizing 2023 Installment Financing for Various Capital Investment Plan Projects for Up to $14,500,000
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5/11/2023 4:01:35 PM
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BOCC
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5/16/2023
Meeting Type
Business
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Agenda
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8-c
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32 <br /> County's adopted budget ordinance within 30 days after its adoption by the County <br /> Board. The County shall also furnish the Lender, at such reasonable times as the <br /> Lender may request, all other financial information as the Lender may reasonably <br /> request to supplement or verify financial assumptions or to verify the County's <br /> creditworthiness. The County shall permit the Lender or its agents and <br /> representatives to inspect the County's books and records and make extracts <br /> therefrom. <br /> Section 4.02. Amendments Require Lender's Consent. This Supplemental <br /> Agreement may only be amended by a writing signed by the Lender. Otherwise, the <br /> provisions of the Trust Agreement concerning the amendment of the Trust <br /> Agreement apply. <br /> Section 4.03. No Advisory or Fiduciary Relationship. The County <br /> acknowledges and agrees as follows: (a) the Lender is acting solely as a principal for <br /> the purchase of the 2023 Bonds, and not as a municipal advisor, financial advisor or <br /> fiduciary to the County or any other person or entity regardless of whether the <br /> Lender or an affiliate has or is currently acting as such on a separate transaction; (b) <br /> the Lender has not assumed any advisory or fiduciary responsibility to the County <br /> with respect to the transaction contemplated hereby and the discussions, <br /> undertakings and procedures leading thereto (irrespective of whether the Lender or <br /> its affiliates have provided other services or are currently providing other services <br /> to the County on other matters); (c) the Lender's only obligations to the County with <br /> respect to the transaction contemplated are as expressly set out in the financing <br /> documents; and (d) the County has consulted its own legal, accounting, tax, financial <br /> and other advisors, as applicable, to the extent it has deemed appropriate. <br /> Section 4.04. Additional Event of Default. Along with the Events of Default <br /> specified in the Prior Agreement, it shall be an Event of Default if the County's <br /> unenhanced general obligation bond rating is downgraded (but not if ratings are <br /> withdrawn) below (a) Baal by Moody's Investor's Service, Inc., (b) BBB by S&P <br /> Global Ratings or (c) BBB by Fitch Ratings. <br /> 14 <br />
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