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BK:00024 PG:0867 <br />WHEREAS, the County has solicited proposals from banks to provide the source of <br />funds for such refinancing; and <br />WHEREAS, upon careful review and consideration of the proposals submitted by banks <br />to provide such financing, the County desires to accept the proposal of PNC Bank, National <br />Association (the "Lender'); <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners (the "Board ") <br />for the County as follows: <br />I. The proposal of the Lender to advance funds to the County pursuant to an installment <br />financing arrangement in the aggregate principal amount not to exceed of $24,000,000 for the <br />purpose of providing funds, together with any other available funds, to refund all or a portion the <br />Series 2004 Certificates and paying the related financing costs is hereby accepted, subject to <br />further 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 the foregoing resolution was <br />adopted by the following vote: <br />Noes: <br />2 <br />