BC 1989 01 16 - Laserfiche WebLink

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34 charge required to be paid with respect to such exchange or registration of transfer, but no other charge shall be made by the Issuer or the Bond Registrar for exchanging or registering the transfer of Bonds under this resolution. The Bond Registrar shall not be required to exchange or register the transfer of any Bond during a period beginning at the opening of business fifteen (15) days before the day of the mailing of a notice of redemption of Bonds or any portion thereof and ending at the close of business on the day of such mailing or of any Bond called for redemption in whole or in part pursuant to Section 4'of this resolution. As to any Bond, the person in whose name the same shall be registered shall be deemed and regarded as the absolute owner thereof for all purposes, and payment of or on account of the principal or redemption price of any such Bond and the interest on any such Bond shall be made only to or upon the order of the registered owner thereof or his legal representative. Ail such payments shall be valid and effectual to satisfy and discharge the liability upon such Bond, including the redemption premium, if any, and interest thereon, to the extent of the sum or sums so paid. The Issuer shall appoint such registrars, transfer agents, depositaries or other agents as may be necessary for the registration, registration of transfer and exchange of Bonds within a reasonable time according to then current commercial standards and for the timely payment of principal, interest and any redemption premium with respect to the Bonds. The Finance Officer of the Issuer is hereby appointed the registrar, transfer agent and paying agent for the Bonds (collectively the "Bond Registrar"), subject to the right of the governing body of the Issuer to appoint another Bond Registrar, and as such shall keep at his office the books of the Issuer for the registration, registration of transfer, exchange and payment of the Bonds as provided in this resolution. Section 6. The Issuer covenants that, to the extent permitted by the Constitution and laws of the State of North Carolina, it will comply with the requirements of the Code except to the extent that the Issuer obtains an opinion of bond counsel to the effect that noncompliance would not result in interest on the Bonds being includable in gross income of their owners for purposes of federal income taxation. Section 7. The action of the County Manager and the Finance Officer of the Issuer in applying to the Local Government Commission of North Carolina to advertise and sell the Bonds is hereby ratified and confirmed and the Local Government Commission of North Carolina is hereby requested to ask for sealed bids for the Bonds by publishing notices and printing and distributing an Official Statement relating to the sale of the Bonds. Such Official Statement, dated January 20, 1989 and substantially in the form presented at this meeting, is hereby approved and the Chairman of the Board of Commissioners for the Issuer, the County Manager and the Finance Officer of the Issuer. are each hereby authorized to approve changes in such Official Statement and to execute such Official Statement for and on behalf of the Issuer. Section 8. This resolution shall take effect upon its passage. Upon motion of Commissioner Hamby, seconded by Commissioner Moss, the foregoing resolution entitled: "RESOLUTION PROVIDING FOR THE ISSUANCE OF $8,500,000 WATER BONDS, SERIES 1989" was passed by the following vote: Ayes: Commissioners Hamby, Moss, Melvin, and Simmons and Chairman Lentz. Noes: None. Chairman Lentz reported that he, the County Manager, and the County Finance Director were traveling to New York on January 17 to make presentations to two bond rating firms in an attempt to improve the County's "A" bond rating. Board members were reminded of their trip to Atlanta on Monday, January 23, 1989, to meet with officials of the Federal Aviation Administration. Commissioner Melvin agreed to meet with representatives of Keep Cabarrus Clean and Beautiful, Inc. and Rowan County officials on January 19 at Bakers Creek Park to assess the work for a future clean-up program at the park. As proposed by Commissioner Simmons, the Board by consensus agreed for the County Planning Director to continue to pursue possible Federal funding for regional waste treatment facilities that would cross county lines and serve areas located in Cabarrus County and adjoining counties.