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2003 - 09-15-03 Regular Meeting
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2003 - 09-15-03 Regular Meeting
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2/26/2009 10:36:32 AM
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Admin-Clerk
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Minutes
Committee
Board of Commissioners
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0 0 <br />na 19 PAGE 549 <br />Official Statement may approve, the execution and delivery thereof to constitute conclusive <br />evidence of such approval. <br />Section 6. Each of the Chairman of the Board of Commissioners, the County Manager <br />and the Director of Finance are authorized to approve all details of the financing of the Project, <br />including, without limitation, the amount advanced under the Contract and the aggregate <br />principal amount of the 2004 Certificates (which shall not exceed $27,500,000), the maturities, <br />the principal amounts and the interest amounts of the Installment Payments and the 2004 <br />Certificates, which interest amounts (calculated with respect to the 2004 Certificates) shall not <br />exceed 6.75% per annum on a true interest cost basis, the prepayment terms and prices (which <br />shall not exceed 103% of the principal amount being prepaid) and the Underwriters' discount <br />(exclusive of any original issue discount) (which shall not exceed 2.0% of the principal amount <br />of the 2004 Certificates). Execution of the Contract by the Chairman of the Board of <br />Commissioners or the County Manager shall conclusively evidence approval of all such details <br />of said financing. <br />Section 7. The Chairman of the Board of Commissioners, the County Manager, the <br />Director of Finance, the Clerk to the Board of Commissioners and the County Attorney are <br />hereby authorized to take any and all such further action, including approval of any <br />modifications to the Financing Documents, and to execute and deliver for and on behalf of the <br />County such other documents and certificates (including, without limitation, agreements with <br />securities depositories, financing statements, appropriate tax certificates and agreements and <br />other documents and agreements (including repurchase agreements) relating to the investment of <br />the proceeds from the execution and delivery of the Contract) as they may deem necessary or <br />advisable to carry out the intent of this resolution and to effect the financing pursuant to the <br />C5980782 6 <br />
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