RES-2026-018- Amendments to the Series 2019 A and B Limited Obligation Bond Documents

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part of the property being financed, but not by any pledge of the County' s taxing power or any specific revenue stream . The two 2019 bond issues are secured by a variety of County facilities, and the proposed amendments will not result in any changes to the pledged collateral . 1 . The Orange County Board of Commissioners RESOLVES, as follows : ( a) The County determines to apply the unspent proceeds in hand from the 2019A and the 2019B bonds to additional project costs , and in particular the project costs described on Exhibit A . (b) The Board approves the forms of the Agreements submitted to this meeting. The Board authorizes the Board ' s Chair and the County Manager, or either of them, to execute and deliver the Agreements in their final forms . The amending agreement for the 2019A bonds in its final form must be in substantially the form presented, with such changes as the Chair or the County Manager may approve . The amending agreement for the 2019B bonds must be in substantially the same form as the agreement for the 2019A bonds . The execution and delivery of any Agreement by an authorized County officer will be conclusive evidence of that officer ' s approval of any changes . ( c) The Board, on behalf of the County, asks the LGC and the bond trustee to approve the amendment requests as provided in the draft Agreements . 2 . The Board makes the following findings of fact in support of the County's request to the LGC : ( a) The proposed projects are necessary and appropriate for the County under all the circumstances . (b ) The proposed installment financing amendments are preferable to any available alternative financings . The two sets of 2019 bonds carry effective interest costs well below what would be available to the County in today' s markets . Without the amendments , the County will need to seek new higher - rate financing, or make other funds available , to carry out the desired projects . 2