AG 2009 04 20 - Laserfiche WebLink

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4 expanding and renovating existing public school facilities, including but not limited to two new elementary schools, a new middle school, an addition to an existing elementary school and an addition to and renovation of an existing high school, (c) various real and personal property improvements related to the foregoing and (d) a portion of the interest to accrue under the installment financing contract during the construction periods of the foregoing (collectively the "2009 Project"), and under said installment financing contract the County would secure the repayment by the County of the moneys advanced pursuant to such contract by granting a security interest in and lien on all or a portion of the 2009 Project; WHEREAS, as part of said plan of financing, the Corporation will issue Certificates of Participation in an aggregate principal amount not exceeding $117,000,000 to finance the advancement of moneys to the County pursuant to the installment financing contract between the County and the Corporation; WHEREAS, there have been submitted to this meeting draft forms of the following documents (the "Financing Documents") with respect to the financing for the 2009 Project: (1) an Installment Financing Contract, proposed to be dated on or about May 15, 2009 (the "Contract"), between the County and the Corporation as counterparty, pursuant to which the Corporation will advance moneys to the County for the costs of the 2009 Project and the County agrees to make periodic installment payments (the "Installment Payments") to repay _ the moneys so advanced, with interest; (2) a Deed of Trust, Security Agreement and Fixture Filing (the "Deed of Trust"), proposed to be dated on or about May 15, 2009, among the County as Grantor, the Corporation as Beneficiary and the trustee named therein, by which the County would secure its obligations to the Corporation under the Contract; 2 Attachment number 1 Page 267 of 320 G-5