Orange County NC Website
i <br />3 <br />Resolution concerning the proposed installment financing <br />for the planned new Orange County high school <br />WHEREAS, Orange County has previously approved in principle a plan to <br />finance a portion of the construction costs for a new high school for the Orange <br />County school district through an installment financing contract, as authorized <br />under Section 160A-20 of the North Carolina General Statutes; <br />WHEREAS, by resolution adopted June 6, 2000, the Board of <br />Commissioners made certain findings of fact and tentative determinations to <br />proceed with such an installment financing, <br />WHEREAS, those findings and determinations were made subject to the <br />Board's further consideration in light of any public comment received at the public <br />hearing that is required by law prior to such an installment financing; <br />WHEREAS, the Board has now conducted the required public hearing; <br />NOW, THEREFORE, BE IT RESOLVED that the Board of <br />Commissioners of Orange County, North Carolina, confirms its determination to <br />proceed with an installment financing for the new Orange County high school <br />project, and confirms the findings of fact contained in the resolution of June 6; <br />BE IT FURTHER RESOLVED that BB&T Capital Markets shall be <br />retained as the County's senior managing underwriter for the installment financing; <br />BE IT FURTHER RESOLVED that Finance Officer, the County's bond <br />counsel and all other County officers and employees are authorized and directed to <br />proceed with the formation of the nonprofit financing corporation necessary for the <br />contemplated plan of financing; and <br />BE IT FURTHER RESOLVED that the Finance Officer and all other <br />County officers and employees are authorized and directed to proceed with all such <br />further action as they may consider necessary or desirable to complete the <br />installment financing contemplated by this resolution. <br />