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AG 2009 05 18
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AG 2009 05 18
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Last modified
2/5/2010 12:56:16 PM
Creation date
11/27/2017 11:25:26 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
2/5/2010
Board
Board of Commissioners
Meeting Type
Regular
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C <br />expanding and renovating existing public school facilities, including but not limited to two new <br />elementary schools, a new middle school, an addition to an existing elementary school and an <br />addition to and renovation of an existing high school, (c) various real and personal property <br />improvements related to the foregoing and (d) a portion of the interest to accrue under the <br />installment financing contract during the construction periods of the foregoing and thereafter <br />through and including January 1, 2012 (collectively the "2009 Project"), and under said <br />installment financing contract the County would secure the repayment by the County of the <br />moneys advanced pursuant to such contract by granting a security interest in and lien on all or a <br />portion of the 2009 Project; <br />WHEREAS, as part of said plan of financing, the Corporation will issue Certificates of <br />Participation in an aggregate principal amount not exceeding $100,000,000 to finance the <br />advancement of moneys to the County pursuant to the installment financing contract between the <br />County and the Corporation; <br />WHEREAS, there have been submitted to this meeting draft forms of the following <br />documents (the "Financing Documents") with respect to the financing for the 2009 Project: <br />(1) an Installment Financing Contract, proposed to be dated on or about July 1, 2009 <br />(the "Contract"), between the County and the Corporation as counterparty, pursuant to which the <br />Corporation will advance moneys to the County for the costs of the 2009 Project and the County <br />agrees to make periodic installment payments (the "Installment Payments") to repay the moneys <br />so advanced, with interest; <br />(2) a Deed of Trust, Security Agreement and Fixture Filing (the "Deed of Trust"), <br />proposed to be dated on or about July 1, 2009, among the County as Grantor, the Corporation as <br />0 <br />n <br />i <br />C <br /> <br />ii <br />ii <br />i <br /> <br /> <br /> <br />n <br />i~ <br />J <br /> <br />2 ' <br />Attachment number 4 <br />G - 2 Page 144 of 199 ' <br />
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