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AG 2017 08 21
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AG 2017 08 21
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Last modified
8/24/2017 4:41:15 PM
Creation date
11/27/2017 10:29:54 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
8/21/2017
Board
Board of Commissioners
Meeting Type
Regular
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of the proceeds from the execution and delivery of the Contract(s)) as they may deem necessary <br /> or advisable to carry out the intent of this resolution and to effect the financing pursuant to the <br /> Contract(s) and the other Financing Documents. The Interim County Clerk is hereby authorized <br /> to affix the seal of the County to such documents and certificates as may be appropriate and to <br /> attest to the same and to execute and deliver the same as may be needed. In addition, said officers <br /> are hereby authorized to cooperate with the Underwriters in preparing and filing such filings under <br /> state securities or "blue sky" laws (including special consents to service of process) as the <br /> Underwriters may request and as the Chairman of the Board of Commissioners, the County <br /> Manager or the Director of Finance shall determine. <br /> Section 9. The Finance Director shall prepare and file a sworn statement of debt with the <br /> LGC and the Interim Clerk to the Board in accordance with North Carolina General Statutes <br /> Section 159-150. <br /> Section 10. The County covenants that, to the extent permitted by the Constitution and <br /> laws of the State of North Carolina, it will do and perform all acts and things to comply with the <br /> requirements of the Internal Revenue Code of 1986, as amended (the "Code"), in order to assure <br /> that interest paid with respect to the 2017 Limited Obligation Bonds will not be includable in the <br /> gross income of the owners thereof for purposes of federal income taxation, except to the extent <br /> that the County obtains an opinion of bond counsel to the effect that noncompliance would not <br /> result in interest with respect to the 2017 Limited Obligation Bonds being includable in the gross <br /> income of the owners of the 2017 Limited Obligation Bonds for purposes of federal income <br /> taxation. <br /> Section 11. This Resolution shall become effective immediately upon its adoption. <br /> Thereupon, upon motion of Commissioner , seconded by <br /> Commissioner , the foregoing resolution entitled "RESOLUTION <br /> APPROVING INSTALLMENT CONTRACT FINANCING FOR VARIOUS PUBLIC <br /> PROJECTS IN AN AGGREGATE PRINCIPAL AMOUNT UP TO $128,105,000 AND THE <br /> EXECUTION AND DELIVERY BY THE CABARRUS COUNTY DEVELOPMENT <br /> CORPORATION OF CERTIFICATES OF PARTICIPATION AND/OR LIMITED <br /> OBLIGATION BONDS RELATED THERETO, AUTHORIZING THE EXECUTION AND <br /> DELIVERY OF RELATED DOCUMENTS IN CONNECTION THEREWITH, AND <br /> 6 <br /> G-4 Page 244 <br />
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