2003 - 01-21-03 Regular Meeting - Laserfiche WebLink

Home Browse Search

rsG. s.67 (3) the Construction Agreement; and (4) the Lease Agreement. Section 2. The Board hereby approves the Agreement, the Deed of Trust, the Construction Agreement and the Lease Agreement in substantially the forms presented at this meeting. The Chairman and the Vice Chairman of the Board and the County Manager are each hereby authorized to execute and deliver on behalf of the County each of said documents in substantially the forms presented at this meeting, containing such insertions, deletions and filling in of blanks as the person executing such documents shall approve, such execution to be conclusive evidence of approval by the Board of any such changes. The Clerk or any Deputy or Assistant Clerk to the Board is hereby directed to affix the corporate seal of the County to each of `said documents and to attest the same. Section 3. No deficiencyjudgment may be rendered against the County in any action for breach of any contractual obligation under the Agreement or the Deed of Trust, and the taxing power of the County is not and may not be pledged directly or indirectly to secure any moneys due under the Agreement or the Deed of Trust. Section 4. The Chairman, the Vice Chairman, the County Manager, the Finance Officer, County Attorney and the Clerk to the Hoard, and any other officers, agents and employees of the County, are hereby authorized and directed to execute and deliver such closing certificates, opinions and other items of evidence as shall be deemed necessary to consummate the transactions described above, including (a) the execution of any necessary financing statements relating to fixtures located on the Mortgaged Property, (b) the execution of any documents necessary for the conveyance of the Site to the County and (c) the filing of a Form 8038-G with the Internal Revenue Service in connection with the financing. Section 5. The County hereby represents that it reasonably expects that it and all entities issuing obligations on behalf of the County and all subordinate entities of the County will not issue in the aggregate more than $10,000,000 of tax-exempt obligations (not counting private activity bonds except for qualified 501(c)(3) bonds as defined in the Internal Revenue Code of 1986, as amended) during calendar year 2003- In addition, the County hereby designates each of the Installment Payments as a "qualified tax-exempt obligation" for the purposes of Section 265(b)(3) of the Internal Revenue Code of 1986, as amended. Section 6. This resolution shall take effect immediately upon its passage. CAROLINA, LEE COtJ fY for registration on th day 204L3 at 0 V AWPM recorded In Book Page PS Nellie W. Thomas, Register of Deeds