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AG 2010 09 20
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AG 2010 09 20
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Last modified
11/15/2011 8:25:30 AM
Creation date
11/27/2017 11:23:20 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
9/20/2010
Board
Board of Commissioners
Meeting Type
Regular
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Section 5. The Trust Indenture (including the form of Certificate and /or Bond) is hereby <br />approved in substantially the form submitted to this meeting, with such changes, insertions or <br />omissions as appropriate, including but not limited to changes, insertions or omissions related to <br />obtaining a policy of municipal bond insurance with respect to all or a portion of any <br />Certificates and /or Bonds, as the representative(s) of the County executing the Contract(s) may <br />approve, the execution and delivery of the Contract to constitute conclusive evidence of such <br />approval. The Board of Commissioners hereby approves the sale of Certificates and /or Bonds by <br />the Corporation in an aggregate principal amount not in excess of the amount of moneys to be <br />advanced to the County pursuant to the Contract(s). <br />Section 6. Each of the Chairman of the Board of Commissioners, the County Manager <br />and the Director of Finance are authorized to approve all details of the financing of the Projects, <br />including, without limitation, the amount advanced under the Contract(s) and the aggregate <br />principal amount of any Certificates and /or Bonds (which shall not exceed $14,637,160), the <br />maturities, the principal amounts and the interest amounts (if any) of the Installment Payments <br />and any Certificates and /or Bonds, which interest amounts (calculated with respect to any <br />Certificates and /or Bonds) shall not exceed 8.0% per annum on an effective interest cost basis, <br />the prepayment terms and prices (which shall not exceed 105% of the principal amount being <br />prepaid) and the Underwriters' discount (exclusive of any original issue discount) (which shall <br />not exceed 2.0% of the principal amount of any Certificates and /or Bonds). Execution of the <br />Contract(s) by the Chairman of the Board of Commissioners or the County Manager shall <br />conclusively evidence such approval of all such details of said financing. <br />Section 7. The Chairman of the Board of Commissioners, the County Manager, the <br />Director of Finance and the County Attorney are hereby authorized to take any and all such <br />5 <br />Page 357 <br />G -4 <br />
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