Laserfiche WebLink
McGuireWoods LLP, as special counsel, are hereby ratified, approved and authorized pursuant <br />to and in accordance with the transactions contemplated by the Financing Documents. <br />Section 2. The Board of Commissioners hereby finds and confirms that (i) the Projects <br />and the financing thereof by one or more installment financing contracts is necessary and <br />expedient for the County; (ii) financing of the Projects by an installment financing contract(s), <br />under the circumstances, is preferable to a bond issue by the County; (iii) the sums to fall due <br />under the installment financing contract(s) are adequate and not excessive for their proposed <br />purpose; (iv) the County's debt management procedures and policies are good and its debt will <br />continue to be managed in strict compliance with law; (v) the increase in taxes, if any, necessary <br />to meet the sums to fall due under the installment financing contract(s) will not be excessive; and <br />(vi) the County is not in default regarding any of its debt service obligations. <br />Section 3. The acquisition, construction and equipping of the Projects, the financing <br />thereof and the granting of security interests therein, all as provided in the Financing Documents <br />referenced in this Resolution, are hereby ratified and approved. <br />Section 4. Each of the Contract(s) and the Deed of Trust is hereby approved in <br />substantially the form submitted to this meeting, and each of the Chairman of the Board of <br />Commissioners or the County Manager is hereby authorized to execute and deliver each of those <br />documents in the name and on behalf of the County, with such changes, insertions or omissions <br />as the persons executing such documents may approve, including but not limited to changes, <br />insertions or omissions related to obtaining a policy of municipal bond insurance with respect to <br />all or a portion of any Certificates and /or Bonds, their execution and delivery thereof to <br />constitute conclusive evidence of such approval. The County Clerk is hereby authorized to affix <br />the seal of the County to each of said documents as may be appropriate and to attest to the same. <br />4 <br />Page 356 <br />G -4 <br />