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November 17, 2008 (Regular Meeting) Page 1061 Section 4. Each of the Chairman of the Board of Commissioners, the County Manager and the Finance Director is authorized to approve all details of the financing of the Project, including, without limitation, the amount advanced under the Contract (which shall not exceed $6,000,000), the principal amounts and the interest amounts of the Installment Payments, which interest amounts shall not exceed 5.00°s per annum. Execution of the Contract by the Chairman of the Board of Commissioners, the County Manager or the Finance Director shall conclusively evidence such approval of all such details of said financing. Section 5. The Chairman of the Board of Commissioners, the County Manager, the Finance Director and the County Attorney are each 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 Contract) as they may deem necessary or advisable to carry out the intent of this resolution and to effect the financing pursuant to the 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. Section 6. 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 the interest component of the Installment Payments paid pursuant to the Contract will not be includable in gross income for purposes of federal income taxation, except to the extent that the County obtains an opinion of special counsel to the effect that noncompliance would not result in the interest component of said Installment Payments being includable in gross income for purposes of federal income taxation. Section 7. This Resolution shall become effective immediately upon its adoption. Thereupon, upon motion of Commissioner Privette, seconded by Commissioner Mynatt, the foregoing resolution entitled "RESOLUTION APPROVING INSTALLMENT CONTRACT FINANCING FOR ACQUISITION OF REAL PROPERTY IN AN AGGREGATE PRINCIPAL AMOUNT UP TO $6,000,000, AUTHORIZING THE EXECUTION AND DELIVERY OF RELATED DOCUMENTS IN CONNECTION THEREWITH, AND PROVIDING FOR CERTAIN OTHER RELATED MATTERS" was adopted and passed by the following vote: AYES: Chairman White; Mynatt, and Privette. NOES: None. i - rrese: Amendment Vice Chairman Juba, of Cynthia Seaforth, Program Manager for Teen Court, presented an overview of the Teen Court program. She addressed the following issues: Cabarrus County Teen Court Program uses the adult-judge model with peer attorneys to question the youth offender and a peer jury to determine the sanctions the youth will receive; referrals come from the Department of Juvenile Justice, school resource officers, school social workers, district court through the assistant district attorney and district court attorneys, and local law enforcement; volunteers; funding; a review of sanctions; etc. Ms. Seaforth responded to questions from the Board regarding funds and cost. UPON MOTION of Commissioner Privette, seconded by Commissioner Mynatt and unanimously carried, the Board adopted the following budget amendment: BUDGET REVISION/AMENDMENT REQUEST DEPARTMENT OF FINANCE AMOUNT: $13,614.00 TYPE OF ADJUSTMENT: Supplemental Request PURPOSE OF REQUEST: Additional State allocation to JCPC. The Cabarrus JCPC council has reviewed requests and recommends the funds go to the Teen Court program for expanded service capacity. Commissioners Carruth, Present Account No. Approved Budget Increase Decrease Revised Budget 00161980-6267 $55,678.00 $13,614.00 69,292.00