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Agenda - 11-19-2002-7b
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Agenda - 11-19-2002-7b
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Last modified
9/1/2008 11:52:49 PM
Creation date
8/29/2008 11:13:19 AM
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BOCC
Date
11/19/2002
Document Type
Agenda
Agenda Item
7b
Document Relationships
Minutes - 20021119
(Linked To)
Path:
\Board of County Commissioners\Minutes - Approved\2000's\2002
RES-2002-083 Resolution Providing Final Approval of Financing Terms and Documents - Public Hearing on Alternative Capital Financing Plan
(Linked From)
Path:
\Board of County Commissioners\Resolutions\2000-2009\2002
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6 <br />completed to such officer's satisfaction, and thereupon to release the executed copies <br />of such documents for delivery to the appropriate persons or organizations. Without <br />limiting the generality of the foregoing, the Board specifically authorizes the Finance <br />Officer to approve changes to any documents (including the Documents and any <br />closing certifications) previously signed by County officers or employees, provided <br />that such changes shall not substantially alter the intent of such documents from that <br />expressed in the forms of such documents as executed by such officers. The Finance <br />Officer's authorization of the release of any such document for delivery will <br />constitute conclusive evidence of his approval of any such changes. <br />S. Resolutions As To Tax Matters -- The County will not take or omit to <br />take any action the taking or omission of which will cause its obligations to pay <br />principal and interest components of installment payments under the Financing <br />Agreement (as described on Exhibit A) (the "Obligations") to be "arbitrage bonds," <br />within the meaning of Section 148 of the "Code" (as defined below), or "private <br />activity bonds" within the meaning of Code Section 141, or otherwise cause interest <br />components of the installment payments to be includable in gross income for federal <br />income tax purposes. Without limiting the generality of the foregoing, the County <br />will comply with any Code provision that may require the County at any time to pay <br />to the United States any part of the earnings derived from the investment of the <br />proceeds made available to it under the Financing Agreement, and the County will <br />pay any such required rebate from its general funds. For the purposes of this <br />resolution, "Code" means the United States Internal Revenue Code of 1986, as <br />amended through the date of the initial delivery of the Financing Agreement, <br />including applicable Treasury regulations. <br />6. Obligations Are wank-Qualified " Obligations -- The County <br />designates the Obligations as "qualified tax-exempt obligations" for the purpose of <br />Code Section 265(b)(3). <br />7. Authorization to School Board Attorney -The Board authorizes and <br />approves actions taken and to be taken by the School Board's attorney in connection <br />with the conveyance of the Orange High School property to the County and in <br />obtaining a title insurance policy on that property for the County's benefit. The Board <br />waives any conflict that may arise between such activities on the County's behalf and <br />the attorney's representative of the School Board. <br />8. Miscellaneous Provisions -- All County officers and employees are <br />authorized and directed to take all such further action as they may consider necessary <br />or desirable in furtherance of the purposes of this resolution. All such prior actions <br />ALTFINANPLANPHRES21119 <br />
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