Laserfiche WebLink
Section 2. The acquisition, construction and equipping of <br />the Project, the financing thereof and the granting of security <br />interests therein, all as provided in the Financing Documents <br />referenced in this Resolution, are hereby ratified and approved. <br /> <br /> Section 3. The Board of Commissioners hereby finds and <br />confirms that (i) the Project and the financing thereof by the <br />Contract is necessary and expedient for the County; (ii) <br />financing of the Project by the Contract, under the <br />circumstances, is preferable to a bond issue by the County; (iii) <br />the sums to fall due under the Contract are adequate and not <br />excessive for its proposed purpose; (iv) the County's debt <br />management procedures and policies are good and its debt will <br />continue to be managed in strict compliance with law; (v) the <br />increase in taxes, if any, necessary to meet the sums to fall due <br />under the Contract will not be excessive; and (vi) the County is <br />not in default regarding any of its debt service obligations. <br /> <br /> Section 4. Each of the Contract, the Purchase Contract and <br />the Deed of Trust is hereby approved in substantially the form <br />submitted to this meeting, and each of the Chairman of the Board <br />of Commissioners or the County Manager is hereby authorized to <br />execute and deliver each of those documents in the name and on <br />behalf of the County, with such changes, insertions or omissions <br />as the persons executing such documents may approve, including <br />but not limited to changes, insertions or omissions related to <br />obtaining a policy of municipal bond insurance with respect to <br /> <br />5 <br /> <br /> <br />