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Agenda 05-19-2026; 6-a - Adoption of the Final Financing Resolution Authorizing the Issuance of 2026A Installment Purchase Financing for Various Capital Investment Plan Projects
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Agenda 05-19-2026; 6-a - Adoption of the Final Financing Resolution Authorizing the Issuance of 2026A Installment Purchase Financing for Various Capital Investment Plan Projects
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5/14/2026 11:04:39 AM
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BOCC
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5/19/2026
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Business
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Agenda
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6-a
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Agenda for May 19, 2026 BOCC Meeting
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13 <br /> as the "Existing Deed of Trust" in this Supplement). The Existing Deed of Trust, as <br /> modified by this Supplement, is referred to as the "Modified Deed of Trust" in this <br /> Supplement. <br /> To secure its obligations under the 2026A Trust Agreement and with respect <br /> to the 2026A Bonds, the County is providing for the conveyance by this Modified <br /> Deed of Trust of the real property described in Exhibit A, all improvements to that <br /> real property and all other "Mortgaged Property," as more completely defined <br /> below. <br /> The Mortgaged Property includes the real property described in Exhibit A. <br /> The County is the record owner of that real property. <br /> This Modified Deed of Trust is given to secure current advances under the <br /> 2026A Agreement of $32,000,000 as well as (a) total outstanding advances with <br /> regard to the Prior Bonds of approximately $[76,837,000], and (b) potential future <br /> advances up to a total maximum principal amount outstanding at any one time of <br /> $200,000,000, all as described and pursuant to the Existing Deed of Trust. The time <br /> during which such future advances may be made is 30 years from June 1, 2018. The <br /> current scheduled date for final repayment is on or about April 1, 2047. <br /> NOW, THEREFORE, <br /> (1) in consideration of the execution and delivery of the 2026A Agreement <br /> and other good and valuable consideration, the receipt and sufficiency of which the <br /> parties acknowledge, <br /> (2) to secure the County's performance of all its covenants under the "Loan <br /> Documents," as defined in Section 5-4, <br /> (3) to charge the Mortgaged Property with that payment and performance, <br /> the County sells, grants and conveys to the Deed of Trust Trustee, her successors <br /> and assigns forever, in trust, with power of sale, the Mortgaged Property," which is <br /> now defined as the following: <br /> (a) The "Mortgaged Property" as defined in the Existing Deed of Trust; along <br /> with <br /> 3 <br />
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