HomeMy WebLinkAboutC.054.93010_0843Agreement'), between the County and the Bank, pursuant to which the Bank will
make available to the County funds to finance the cost of the Project, and the
County will, among other requirements, be obligated to make Installment
Payments (as defined in the Installment Financing Agreement) and certain other
payments; and
(b) a draft of the proposed Deed of Trust, to be dated as of August 30, 2002 or
another mutually agreeable date (the "Deed of Trust'), from the County to
PRLAP, Inc., as deed of trust trustee; for the benefit of the Bank, by which the
County will secure its obligations to the Bank under the Installment Financing
Agreement.
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners for
the County of iredell, North Carolina:
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 Installment Financing Agreement.
Section 2. 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, the Director of Finance and Administration, the Clerk to the Board of
Commissioners, and the County Attorney, are hereby authorized and directed to
execute and deliver the Installment Financing Agreement and the Deed of Trust,
in substantially the forms presented at this meeting, together with any changes,
modifications and deletions as they, 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 3. The Chairman or Vice Chairman of the Board of Commissioners,
the County Manager, the Director of Finance and Administration, the County
Attorney, and the Clerk to the Board of Commissioners, are authorized and
directed to take such action and to execute and deliver such documents,
certificates, undertakings, agreements and other instruments as they, with the
advice of counsel, may deem necessary or appropriate to effectuate the
transactions contemplated by the Installment Financing Agreement and the Deed
of Trust.
Section 4. This resolution shall take effect immediately upon its passage.
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AFTER CONSIDERATION OF THE FOREGOING RESOLUTION,
COMMISSIONER RAYOVED THE PASSAGE THEREOF, WHICH
OTIO WAS DULY SECONDED BY CHAIRMAN TICE, AND THE
FOREGOING RESOLUTION WAS PASSED BY THE FOLLOWING VOTE:
Ayes — 4 (Tice/Ray/Bowles/Williams)
Noes — 1 (Johnson)
ANNOUNCEMENT OF VACANCIES OCCURRING ON BOARDS &
COMMISSIONS OR REAPPOINTMENTS TO COMMITTEES
Welfare Reform Committee (10 mandatory appointments)
APPOINTMENTS TO BOARDS & COMMISSIONS
Juvenile Crime Prevention Council (2 appts.): No nominations were
submitted, and Chairman Tice moved to postpone the appointments until the
September 3 meeting.
VOTING: Ayes — 5; Nays — 0.