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BK:00024 PG:0919 <br />which the Corporation will advance to the County amounts sufficient to pay the costs of <br />refunding the 2004 Certificates maturing on and after April 1, 2016 (the "Refunded 2004 <br />Certificates ") and paying certain financing costs relating thereto (the "Advancement'), and the <br />County will repay the Advancement in installments, with interest (the "Installment Payments "). <br />(c) In order to provide the amount of the Advancement, the Corporation will enter into a <br />Supplemental Indenture, Number 2, to be dated as of the date of delivery thereof (the "Second <br />Supplement'), between the Corporation and U.S. Bank National Association, as trustee (the <br />"Trustee''), supplementing and amending an Indenture of Trust, dated as of January 1, 2004 (the <br />"Original Indenture" and, together with the Second Supplement, the "Indenture"), between the <br />County and First - Citizens Bank & Trust Company (succeeded by the Trustee), pursuant to which <br />the Corporation will execute and deliver a certificate of participation (the "2012 Certificate") <br />evidencing proportionate undivided interests in the right to receive the Installment Payments to <br />be made by the County pursuant to the Contract. <br />(d) The County's obligations under the Contract will be secured by a Deed of Trust, dated <br />as of January 1, 2004 (the "Deed of Trust "), from the County to the deed of trust trustee named <br />therein for the benefit of the Corporation, granting a first lien of record on a portion of the sites <br />of the facilities financed with the 2004 Certificates, together with all improvements and fixtures <br />thereon (the "Mortgaged Property "). <br />(e) The 2012 Certificate will initially be sold to PNC Bank, National Association (the <br />"Purchaser "). <br />(f) There have been presented to the Board drafts of the following documents relating to <br />the transaction hereinabove described: <br />(l) the Second Contract Amendment; <br />(2) the Second Supplement, together with the form of the 2012 Certificate <br />attached as Exhibit A thereto; and <br />(3) an Escrow Deposit Agreement, to be dated as of the date of delivery thereof <br />(the "Escrow Agreement'), among the County, the Corporation and U.S. Bank National <br />Association, as escrow agent (the "Escrow Agent "). <br />Section 2. In order to provide for the refunding the Refunding 2004 Certificates, the <br />County is hereby authorized to enter into the Second Contract Amendment and receive the <br />Advancement pursuant thereto in the principal amount not to exceed $17,500,000. In order to <br />provide the funds for the Advancement to be made by the Corporation to the County, the <br />Corporation is hereby requested to enter into the Second Contract Amendment, the Second <br />Supplement and the Escrow Agreement and to execute and deliver the 2012 Certificate. The <br />actual principal amount of the Advancement shall be determined by the County at the time of <br />execution of the Second Contract Amendment, such execution and delivery to constitute <br />approval by the County of the principal amount of such Advancement as set forth in the Second <br />Contract Amendment and the approval by the County of the execution and delivery by the <br />Corporation of the 2012 Certificate in such principal amount. The amount of the Advancement <br />shall be the amount that, in the best judgment of the person executing the Contract, shall be the <br />amount necessary to provide sufficient funds to (a) refund the Refunded 2004 Certificates and <br />2 <br />