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BK:00027 PG -0983 <br />and recreation facility, (c) renovating various facilities at Central Carolina Community College <br />and (d) installing a new roof and other related improvements to the County's Civic Center; and <br />WHEREAS, the County has solicited proposals from various financial institutions to <br />provide the source of funds for such refinancing; and <br />WHEREAS, upon careful review and consideration of the proposals submitted by various <br />financial institutions to provide funds for such refinancing, the County desires to accept the <br />proposal of Capital One Public Funding_ (the "Lender"); <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners (the "Board") <br />for the County as follows: <br />1. The proposal of the Lender to advance funds to the County pursuant to an installment <br />financing contract in an aggregate principal amount not to exceed of $23,250,000 for the purpose <br />of providing funds, together with any other available funds, to refund all or a portion the Series <br />2006 Certificates and paying the related financing costs is hereby accepted, subject to further <br />approval of the particular documentation related thereto by the Board. <br />2. The Finance Director of the County is hereby authorized and directed to execute and <br />deliver such documentation as may be necessary to accept the proposal of the Lender. <br />3. This resolution shall take effect immediately upon its passage. <br />Upon motion of Commissioner Reives , the foregoing resolution <br />was adopted by the following vote: <br />Ayes: DalryMple, Frazier, Knecht, Oldham, Reives, Sloan, and Smith <br />Noes: None <br />2 <br />