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Under the financing plan, the County will receive funds from the sale of the <br /> Bonds to carry out the projects . The County will repay the funds over time , with <br /> interest . The County will secure its repayment obligation by granting a mortgage - like <br /> interest in some or all of the facilities listed on Exhibit C . <br /> 2. Approval of Documents; Direction To Execute Documents - - The Board <br /> approves the forms of the Documents submitted to this meeting. The Board <br /> authorizes the Board Chair and the County Manager, or either of them, to execute and <br /> deliver the Documents when in final form . The Documents in their respective final <br /> forms must be in substantially the forms presented, with changes as the Chair or the <br /> County Manager may approve . The execution and delivery of any Document by an <br /> authorized County officer will be conclusive evidence of that officer ' s approval of any <br /> 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 $ 32 , 000 , 000 , (b) for a true interest cost of the financing not to <br /> exceed 5 . 00 % , and ( c) for a financing term not to extend beyond December 31 , 2047 . <br /> The amount financed under the Documents will include amounts to reimburse the <br /> County for prior project expenditures and to pay financing expenses and other <br /> necessary and incidental costs . <br /> 3. Sale of Bonds; Approval of Official Statement - The Board appoints ( a) <br /> Robert W. Baird & Co . Incorporated, as senior manager, and (b) Hilltop Securities Inc . , <br /> as co - manager, to underwrite a public offering of the proposed Bonds . <br /> The Board approves the draft official statement submitted to this meeting as <br /> the form of the preliminary official statement pursuant to which the underwriters will <br /> offer the Bonds for sale . The preliminary official statement as distributed to <br /> prospective investors must be in substantially the form presented , with such changes <br /> as the Finance Officer may approve . The Board directs the Finance Officer, after the <br /> sale of the Bonds , to complete and otherwise prepare the preliminary official <br /> statement as an official statement in final form . <br /> The Board authorizes the use of the preliminary official statement and the final <br /> official statement ( collectively, the " Official Statement") by the underwriters in <br /> 2 <br />