Laserfiche WebLink
BK:00024 PG:0862 <br />(i) Special counsel to the County will render an opinion to the effect that the proposed <br />undertaking as described above is authorized by law and is a purpose for which public funds may <br />be expended pursuant to the Constitution and laws of the State of North Carolina. <br />0) The debt management policies of the County have been carried out in strict <br />compliance with law, and the County is not in default under any obligation for repayment of <br />borrowed money. <br />(k) No tax rate increase is expected in order to make the Installment Payments under the <br />Agreement. <br />Section 2. The Board hereby authorizes, ratifies and approves the tiling of an application <br />with the Local Government Commission for approval of the Contract and requests the Local <br />Government Commission to approve the Contract and the proposed refinancing in connection <br />therewith. <br />Section 3. This resolution shall take effect immediately upon its passage. <br />Upon motion of Commissioner the foregoing resolution entitled <br />"RESOLUTION MAKING CERTAIN FINDINGS AND DETERMINATIONS REGARDING <br />THE REFINANCING OF CERTAIN OUTSTANDING INSTALLMENT FINANCING <br />OBLIGATIONS OF THE COUNTY PURSUANT TO AN INSTALLMENT FINANCING <br />CONTRACT AND REQUESTING THE LOCAL GOVERNMENT COMMISSION TO <br />APPROVE THE FINANCING ARRANGEMENT" was adopted by the following vote: <br />Ayes: <br />5 <br />