HomeMy WebLinkAboutC.054.93008_2206 (2)Section 1. Capitalized words and terms used in this resolution and not defined herein shall
have the same meanings in this resolution as such words and terms are given in the Trust Agreement
or the Installment Financing Agreement.
Section 2. The County hereby approves the sale of the Certificates by the Corporation. The
Certificates shall mature in such amounts and at such times and shall bear interest at such rates as
shall be determined by the President of the Corporation; provided, however, that the aggregate
principal amount of the Certificates shall not exceed $16,000,000, and the final maturity of the
Certificates shall not extend more than 25 years from their date.
The Certificates shall be issued in fully registered form in denominations of $5,000 or any
whole multiple thereof. Interest on the Certificates shall be payable on June 1, 1993, and semian-
nually thereafter on December 1 and June 1 until the Certificates are fully paid. Payments of
principal of and interest on the Certificates shall be made by the Trustee to the registered owners
of the Certificates in such manner as is set forth in the Trust Agreement.
Section 3. The Certificates shall be subject to prepayment at the times, upon the times and
conditions, and at the price set forth in the Trust Agreement; provided, however, that no prepayment
premium shall exceed 3%.
Section 4. The proceeds of the Certificates (including accrued interest) shall be applied as
provided in Section 2.07 of the Trust Agreement.
., Section 5. The forms, terms and provisions of the Installment Financing Agreement and the Deed
of Trust are hereby approved in all respects, and the Chairman or Vice Chairman of the Board of
Commissioners, the County Manager, or the Director of Finance and Administrative Services and the
Clerk to the Board of Commissioners are hereby authorized and directed to execute and deliver the
Deed of the Trust and the Installment Financing Agreement in substantially the forms presented to
this meeting, together with such changes, modifications and deletions necessary to incorporate the
final terms of the Certificates as shall be set forth in the Certificate Sale Agreement; such
execution and delivery shall be conclusive evidence of the approval and authorization thereof by the
County.
Section 6. Subject to the provisions of Section 8 hereof, the form, terms and provisions of
the Certificate Sale Agreement are hereby approved in all respects and the Chairman or Vice Chairman
of the Board of Commissioners, the County Manager of the Director of Finance and Administrative
Services is hereby authorized and directed to execute and deliver the Certificate Sale Agreement in
substantially the form presented to this meeting together with such changes, modifications, inser-
tions and deletions as he or she, with the advice of counsel, may deem necessary and appropriate;
such execution and delivery shall be conclusive evidence of the approval and authorization thereof
by the County.
Section 7. The form, terms and provisions of the Trust Agreement are hereby approved in all
respects.
Section 8. The County hereby approves the award of the Certificates to the Underwriter pur-
suant to the Certificate Sale Agreement; provided, however, that the true interest cost shall not
exceed 6.70% per annum and the Underwriters' discount shall not exceed 1.2% of the principal amount
of the Certificates.
Section 9. The County hereby approves the use and distribution of the Preliminary Official
Statement in connection with the public offering of the Certificates, and the Official Statement, in
substantially the form of the Preliminary Official Statement, with such changes as are necessary to
reflect the maturities and interest rates of the Certificates and other information required by Rule
15c2-12 of the Securities and Exchange Commission, is hereby approved, and the Chairman or Vice
Chairman of the Board of Commissioners, the County Manager or the Director of Finance and Adminis-
trative Services is hereby authorized to execute, on behalf of the County, the Official Statement in
substantially such form, together with such changes, modifications and deletions as he or she, with
the advice of counsel, may deem necessary and appropriate; such execution shall be conclusive
evidence of the approval thereof by the County, and the County hereby approves and authorizes the
distribution and use of copies of the Official Statement, the Trust Agreement, the Installment
Financing Agreement and the Deed of Trust by the Underwriter in connection with the public offering
of the Certificates.
Section 10. The officers of the County are authorized and directed (without limitation except
as may be expressly set forth herein) to take action and to execute and deliver any such documents,
certificates, undertakings, agreements or other instruments as they, with the advice of counsel, may
deem necessary or appropriate to effect the transactions contemplated by the Trust Agreement, the
Installment Financing Agreement, the Deed of Trust, the Certificate Sale Agreement and the Official
Statement.
Section 11. This resolution shall take effective immediately upon its passage.
VOTING: Ayes - 5; Nays - 0.
REQUEST FOR CONTRIBUTIONS FOR HUMAN SERVICES AUTOMATION STUDY - Budget Amendment #13: MOTION
from Commissioner Stewart to approve the expenditure of $2,107 for a feasibility study in connection
' with the automation study of human services. These funds are to come from Contingency.