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AG 2016 07 18
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AG 2016 07 18
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Last modified
7/20/2016 11:45:58 AM
Creation date
11/27/2017 10:34:09 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
7/18/2016
Board
Board of Commissioners
Meeting Type
Regular
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(4) Financing Documents: <br />BB &T and its counsel shall prepare all documentation for the County. We shall provide a sample of <br />those documents to you should BB &T be the successful proposer. This financing shall be secured by a first <br />lien security interest in all personal property acquired with proceeds. <br />BB &T appreciates the opportunity to provide this financing proposal and requests to be notified within <br />ten days of this proposal should BB &T be the successful proposer. <br />BB &T shall have the right to cancel this offer by notifying the County of its election to do so (whether <br />or not this offer has previously been accepted by the County) if at any time prior to the closing there is a <br />material adverse change in the County's financial condition, if we discover adverse circumstances of which we <br />are currently unaware, if we are unable to agree on acceptable documentation with the County or if there is a <br />change in law (or proposed change in law) that changes the economic effect of this financing to BB &T. We <br />reserve the right to negotiate and/or terminate our interest in this transaction should we be the successful <br />proposer. <br />Should we become the successful proposer, we have attached the form of a resolution that your <br />governing board can use to award the financing to BB &T. If your board adopts this resolution, then BB &T <br />shall not require any further board action prior to closing the transaction. <br />Please call me at (336) 376 -0254 with your questions and comments. We look forward to hearing <br />from you. <br />Sincerely, <br />BRANC H ��W w. BANKING AND TRUST COMPANY <br />L,� <br />Alison W. Peeler <br />Senior Vice President <br />Enclosure <br />Attachment number 1 \n <br />F -7 Page 85 <br />
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