BC 2009 10 19 Regular Meeting - Laserfiche WebLink

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October 19, 2009 (Regular Meeting) Page 1666 2001 Contract Amendment by the Chairman of the Board of Commissioners or the County Manager shall conclusively evidence such approval of all such details of said refinancing. Section 7. The Chairman of the Board of Commissioners, the County Manager, the Director of Finance and the County Attorney are hereby authorized to take any and all such further action, including approval of modifications to the Financing Documents, and to execute and deliver for and on behalf of the County such other documents and certificates (including, without limitation, agreements with securities depositories, financing statements, appropriate tax certificates and agreements and other documents and agreements (including repurchase agreements) relating to the investment of the proceeds from the execution and delivery of the Contracts) as they may deem necessary or advisable to carry out the intent of this resolution and to effect the refinancing pursuant to the 2001 Contract Amendment and the other Financing Documents. The County Clerk is hereby authorized to affix the seal of the County to such documents and certificates as may be appropriate and to attest to the same and to execute and deliver the same as may be needed. In addition, said officers are hereby authorized to cooperate with the Underwriters in preparing and filing such filings under state securities or "blue sky" laws (including special consents to service of process) as the Underwriters may request and as the Chairman of the Board of Commissioners, the County Manager or the Director of Finance shall determine. Section 8. The County covenants that, to the extent permitted by the Constitution and laws of the State of North Carolina, it will do and perform all acts and things to comply with the requirements of the Internal Revenue Code of 1986, as amended (the "Code"), in order to assure that interest paid with respect to the 2009B Certificates will not be includable in the gross income of the owners thereof for purposes of federal income taxation, except to the extent that the County obtains an opinion of bond counsel to the effect that noncompliance would not result in interest with respect to the 2009B Certificates being includable in the gross income of the owners of the 2009B Certificates for purposes of federal income taxation. Section 9. This Resolution shall become effective immediately upon its adoption. Thereupon, upon motion of Commissioner Mynatt, seconded by Commissioner Poole, the foregoing resolution entitled "RESOLUTION APPROVING REFINANCING OF PRIOR INSTALLMENT CONTRACT FINANCING IN AN AGGREGATE PRINCIPAL AMOUNT UP TO $27,535,000 AND THE EXECUTION AND DELIVERY BY THE CABARRUS COUNTY DEVELOPMENT CORPORATION OF CERTIFICATES OF PARTICIPATION RELATED THERETO, AUTHORIZING THE EXECUTION AND DELIVERY OE RELATED DOCUMENTS IN CONNECTION THEREWITH, AND PROVIDING FOR CERTAIN OTHER RELATED NATTERS" was adopted and passed by the following vote: AYES: Chairman White, Vice Chairman Mynatt and Commissioners Carrut h, Poole and Privette NOES: None (H) APPOINTMENTS (H-1) Appointments - Nursing Home Community Advisory Committee Ms. Carol Hovey has submitted an application to serve on the Nursing Home Community Advisory Committee. Ms. Hovey lives in Concord and is a registered nurse. She is the coordinator of the Health Ministry Program at Carolinas Medical Center Northeast. Her application was submitted to the regional Ombudsman for pre-qualification and approved. UPON MOTION of Commissioner Poole, seconded by Commissioner Carruth and unanimously carried, the Board appointed Ms. Carol Hovey to the Nursing Home Community Advisory Committee for a one-year term ending October 31, 2010. Vice Chairman Mynatt advised the Nursing Home Community Advisory Committee is always in need of volunteers and solicited citizen's participation. Chairman White stressed the importance of the position and gave a brief overview of the volunteer duties. (I) REPORTS (I-1) Commerce - Harrisburg Area Land Use Plan Update - Progress Summary Reports