Minutes - May 7, 2012 Regular Meeting

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BK:00024 PG:0920 (b) pay the financing costs incurred in connection with the sale, execution and delivery of the 2012 Certificate. The rate of interest on the Installment Payments with respect to the 2012 Certificate shall be 2.28% per annum, subject to adjustment in certain circumstances as described in the Contract. Section 3. The 2012 Certificate shall be sold to the Purchaser in an amount equal to the par amount thereof. The final maturity of the 2012 Certificate shall not be later than April 1, 2024. Section 4. The Board hereby approves the Second Contract Amendment and the Escrow Agreement in substantially the forms presented at this meeting. The Chairman of the Board, the County Manager and the Finance Director of the County are each hereby authorized to execute and deliver on behalf of the County the Second Contract Amendment and the Escrow Agreement 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 to the Board or any assistant or deputy Clerk to the Board is hereby authorized to affix the official seal of the County to each of said documents and to attest the same to the extent required. Section 5. The Board hereby approves the Second Supplement and the 2012 Certificate in substantially the forms presented at this meeting. (ei Section 6. No deficiency judgment may be rendered against the County in any action for breach of any contractual obligation under the Contract, and the taxing power of the County is not and may not be pledged directly or indirectly to secure any moneys due under the Contract. Section 7. The Chairman of the Board, the County Manager, the Finance Director, the County Attorney and the Clerk to the Board, and any other officers, agents and employees of the County, are hereby authorized and directed to deliver such certificates, opinions and other items of evidence as shall be deemed necessary to consummate the transactions described above. Section 8. This resolution shall take effect immediately upon its passage. Upon motion of Commissioner Womack , the foregoing resolution entitled "RESOLUTION APPROVING AND AUTHORIZING THE EXECUTION AND DELIVERY OF AN AMENDMENT NUMBER TWO TO THE INSTALLMENT FINANCING CONTRACT AND RELATED DOCUMENTS IN CONNECTION WITH THE REFINANCING OF CERTAIN INSTALLMENT FINANCING OBLIGATIONS OF THE COUNTY" was passed by the following vote: Noes: None 3