Orange County NC Website
<br />Without limiting the generality of the foregoing, the Board specifically authorizes the <br />Finance Officer to approve changes to any Documents, agreements or certifications previously <br />signed by County officers or employees, provided that such changes do not conflict with this <br />resolution or substantially alter the intent from that expressed in the form originally signed. The <br />Finance Officer's authorization of the release of any such document for delivery will constitute <br />conclusive evidence of such officer's approval of any such changes,. <br />4. Resolrrtiorrs As To Tax Matters -- The County will not take or omit to take any <br />action the taking or omission of which will cause its obligations to pay principal acrd interest (the <br />"Obligations") to be "arbitrage bonds," within the meaning of Section 148 of the "Code" (as <br />defined below), or "private activity bonds" within the meaning of Code Section 141, or otherwise <br />cause interest components of the installment paytnents to be includable in gross income for <br />federal income tax purposes. Without limiting the generality of the foregoing, the County will <br />comply with any Code provision that may require the County at any tune to pay to the United <br />States any part of the earnings derived from the investment of the financing proceeds. Itr this <br />resolution, "Code" meads the United States Internal Revenue Code of 1986, as annended, acrd <br />includes applicable Treasury regulations. <br />S. Miscellaxeorrs Provisions -- All County officers and employees are authorized <br />and directed to take all such further action as they may consider necessary or desirable in <br />furtherance of the purposes of this resolution. All such prior actions of County officers and <br />employees are ratified, approved and confirmed. Upon the absence, unavailability or refusal to <br />act of the County Manager, the Board's Chair or the Finance Officer, any other of such officers <br />may assume any responsibility or carry out any function assigned in this resolution.. All other <br />Board proceedings, or parts thereof, in conflict with this resolution are repealed, to the extent of <br />the conflict. This resolution takes effect inunediately. <br />