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u <br /> i <br />Section 5. The Chairman of the Board of Commissioners, the County Manager, the <br /> <br />Finance Director and the County Attorney are each hereby authorized to take any and all such <br />further action, including approval of modifications to the Financing Documents, and to execute <br />and deliver for and on behalf of the County such other documents and certificates (including, <br /> <br />without limitation, agreements with securities depositories, financing statements, appropriate tax <br />certificates and agreements and other documents and agreements (including repurchase <br />agreements) relating to the investment of the proceeds from the execution and delivery of the <br />Contract) as they may deem necessary or advisable to carry out the intent of this resolution and <br />to effect the financing pursuant to the Financing Documents. The County Clerk is hereby <br />authorized to affix the seal of the County to such documents and certificates as may be <br />appropriate and to attest to the same and to execute and deliver the same as maybe needed. <br />Section 6. The County covenants that, to the extent permitted by the Constitution and <br />laws of the State of North Carolina, it will do and perform all acts and things to comply with the <br />requirements of the Internal Revenue Code of 1986, as amended (the "Code"), in order to assure <br />that the interest component of the Installment Payments paid pursuant to the Contract will not be <br />includable in gross income for purposes of federal income taxation, except to the extent that the <br />County obtains an opinion of special counsel to the effect that noncompliance would not result in <br />the interest component of said Installment Payments being includable in gross income for <br />purposes of federal income taxation. <br />Section 7. This Resolution shall become effective immediately upon its adoption. <br />Thereupon, upon motion of Commissioner seconded by <br />Commissioner the foregoing resolution entitled "RESOLUTION <br />APPROVING INSTALLMENT CONTRACT FINANCING FOR ACQUISITION OF REAL <br />4 Item# 18 ' <br />Attachment number 3 <br />(j_2 367 of 408 <br />