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Agenda - 03-21-2000-5a
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Agenda - 03-21-2000-5a
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Last modified
8/29/2008 6:01:18 PM
Creation date
8/29/2008 11:16:25 AM
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BOCC
Date
3/21/2000
Document Type
Agenda
Agenda Item
5a
Document Relationships
2000 S EDC - Approval of Resolution Concerning Revised Documents Governing Orange County Small Business Loan Program
(Linked From)
Path:
\Board of County Commissioners\Contracts and Agreements\General Contracts and Agreements\2000's\2000
Minutes - 03-21-2000
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Path:
\Board of County Commissioners\Minutes - Approved\2000's\2000
RES-2000-021 Resolution Regarding Orange County Small Business Loan Program
(Linked From)
Path:
\Board of County Commissioners\Resolutions\2000-2009\2000
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AttachmemC A <br />Resolution Re ardin Small Business Loan Pro ram <br />WHEREAS: <br />Orange County's Board of Commissioners (the "Board") has determined that it is <br />appropriate and desirable for the County to stimulate the creation of good jobs for Orange <br />County citizens as well as to stimulate successful business development and expansion in <br />Orange County. To that end, the Board has determined to provide far the creation of a <br />small business loan company to serve as a lender to small businesses, and to support the <br />company and a program of small business loans by appropriating funds to serve as a loan <br />loss reserve for the loan program. <br />The County Manager has presented to this meeting the Articles of Incorporation <br />and Bylaws for the loan company, along with proposed forms of a "Support Agreement" <br />and a "Loan Agreement" to- carry out the loan program and a final revised version of <br />proposed loan program guidelines (collectively referred to below as the "Loan Program <br />Documents"). <br />BE IT RESOLVED by the Board of Commissioners of Orange County, North <br />Carolina, as follows: <br />1. The County approves the Loan Program Documents as presented to this <br />meeting. The Clerk of this Board shall retain with the permanent records of this meeting <br />copies of the draft Loan Program Documents as so presented. <br />2. The Board's Chair is authorized and directed to execute and deliver the <br />Support Agreement and the Loan Agreement in final forms, and the Clerk to this Board is <br />authorized and directed to affix the County's seal to such agreements and to attest the <br />same. The Support Agreement and the Loan Agreement shall be in substantially the <br />forms submitted to this meeting, with such changes as the Chair may approve upon <br />recommendation from the County Manager and the County Attorney. The Chair's <br />execution of such documents shall constitute conclusive evidence of the Chair's approval <br />of any such changes. <br />3. The County Manager is authorized and directed to hold executed copies of <br />the Support Agreement and the Loan Agreement, and any other documents appropriate <br />for the purposes of this resolution, in escrow on the County's behalf until the conditions <br />for the delivery of such documents have been completed to his satisfaction, and <br />thereupon to release the executed copies of such documents for delivery. <br />~. All County officers are authorized and directed to deliver all certificates <br />and instruments and to take all such further action as they may consider necessary ar <br />desirable in connection with the execution and delivery of the Laan Program Documents <br />and otherwise to initiate the County's small business loan program. All other actions of <br />County officers in furtherance of the purposes and intents of this resolution are ratified, <br />approved and confirmed. <br />
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