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OTHER-2024-031-Trust Agreement
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OTHER-2024-031-Trust Agreement
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Last modified
10/24/2024 10:55:47 AM
Creation date
10/24/2024 10:42:03 AM
Metadata
Fields
Template:
BOCC
Date
5/21/2024
Meeting Type
Business
Document Type
Others
Agenda Item
6-B
Document Relationships
Agenda 05-21-24; 6-b - Adoption of the Final Financing Resolution Authorizing the Issuance of Installment Purchase Financing for Various Capital Investment Plan Projects
(Attachment)
Path:
\Board of County Commissioners\BOCC Agendas\2020's\2024\Agenda - 05-21-2024 Business Meeting
Agenda for May 21, 2024 BOCC Meeting
(Attachment)
Path:
\Board of County Commissioners\BOCC Agendas\2020's\2024\Agenda - 05-21-2024 Business Meeting
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ARTICLE I <br /> THE 2024 BONDS <br /> Section 1 . 01 . Provision for 2024 Bonds ; Advance . (a) The County will <br /> issue, and the Trustee will authenticate and deliver, 2024 Bonds in an aggregate <br /> principal amount of $ 11 , 880 , 000 , consisting of two separate series as follows : <br /> * $ 9 , 800 , 000 Limited Obligation Bonds, Series 2024A (the " Series A <br /> Bonds " ) # and <br /> $ 2 , 080 , 000 Taxable Limited Obligation Bonds , Series 2024B ( the <br /> " Series B Bonds " ) <br /> (b ) The County is receiving a total of $ 12 , 616 , 049 . 97 (the "Amount <br /> Advanced ") from the sale of the 2024 Bonds . The County will use the Amount <br /> Advanced as provided in this Supplemental Agreement to pay Project Costs , <br /> Section 1 . 02 . Bonds Constitute Installment Contracts . Each of the 2024 <br /> Bonds , together with the County' s corresponding obligations under the Trust <br /> nstitutes a separate " installment contract" <br /> Agreement and the Deed of Trust, co <br /> within the meaning of Section 160A - 20 between the County and the owner of that <br /> Bond . The County' s payment obligations , and its other obligations under this <br /> Agreement and with respect to the Bonds , are secured by the lien on the Mortgaged <br /> Property created under the Deed of Trust and by the other security provided for in <br /> the Trust Agreement, <br /> Section 1 . 03 . Agreement Supplements Prior Agreement; 2024 Bonds <br /> Are Additional Bonds . ( a) This Supplemental Agreement is a " supplemental <br /> agreement" for the issuance of Additional Bonds as provided in the Prior <br /> Agreement, and the 2024 Bonds are "Additional Bonds " as defined in the Prior <br /> Agreement. <br /> (b ) Except as modified by this Supplemental Agreement, all terms of the <br /> Prior Agreement remain in effect and apply with respect to the 2024 Bonds to the <br /> same extent as to all Prior Bonds . <br /> 3 <br />
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