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4 <br />REIMBURSEMENT RESOLUTION -- <br />BUILDIN A UYSITTO T <br />WHEREAS, the Finance Officer has described to the Board the desirability of <br />adopting a resolution, as provided under federal tax law, to facilitate, the County's using <br />financing proceeds to restore the County's funds when the County makes capital <br />expenditures prior to closing on a bond issue or other financing. <br />BE IT RESOLVED by the Board of Commissioners of Orange County, North <br />Carolina, as follows: <br />Sect'o The project is the acquisition of a building for offices of the Department <br />of Purchasing and Central Services at 228 S. Churton Street, Hillsborough, NC. <br />ect' n 2 The project is to be financed. The currently expected type of financing <br />(which is subject to change) is installment financing pursuant to Section 160A-20 of the <br />General Statutes. The currently expected maximum amount of obligations to be issued or <br />contracted for the project is $296,000. <br />Section 3. The County intends that funds advanced, or which may be advanced, <br />from the County's General Fund for costs of this project are to be reimbursed from the <br />financing proceeds. <br />Section 4. The adoption of this resolution is intended as a declaration of this <br />County's official intent to reimburse project expenditures from financing proceeds. <br />~ ~ ~ ~ ~ ~ ~ <br />I hereby certify that the foregoing resolution. was duly adopted at a meeting of the <br />Board of Commissioners of Orange County, North Carolina, duly called, and held on June <br />29, 2000, and that a quorum was present .and acting throughout such meeting. Such <br />resolution remains in fiill effect as of today. <br />Dated this day of _ _ , 2000. <br />CSEAL] <br />Beverly A. Blythe <br />Clerk, Board of Commissioners <br />Orange County, North Carolina <br />