BC 1993 10 04 - Laserfiche WebLink

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418 Official Statement relating to the sale of the Bonds are hereby ratified and approved. Such Official Statement, dated October 1, 1993 and substantially in the form of the draft presented at this meeting, is hereby approved, and the Chair of the Board of Commissioners for the Issuer, the County Manager and the Finance Director of the Issuer are each hereby authorized to approve changes in such Official Statement, to approve such Supplement and to execute such Official Statement and such Supplement for and on behalf of the Issuer. Section $. The Letter of Representations, as requested by DTC in connection with the issuance of the Bonds and in the form presented at this meeting, is hereby approved, and the Finance Director of the Issuer is hereby authorized to complete and execute such Letter of Representations and to deliver the same to DTC for and on behalf of the Issuer. Section 9. NationsBank of North Carolina, N.A., in the City of Charlotte, North Carolina, is hereby appointed as escrow agent in connection with the refunding of the bonds to be refunded by the issuance of the Bonds (the "Escrow Agent"), subject to the right of the governing body of the Issuer to appoint another Escrow Agent as provided in the Escrow Deposit Agreement hereinafter mentioned, and as such shall perform its responsibilities as provided in such Escrow Deposit Agreement. Such Escrow Deposit Agreement, substantially in the form of the draft thereof presented at this meeting, and the creation of the Escrow Fund and the other arrangements described therein to accomplish such refunding are hereby approved, and the Chair of the Board of Commissioners for the Issuer and the Clerk to said Board are each hereby authorized to approve such changes in such Escrow Deposit Agreement as are necessary and to execute such Escrow Deposit Agreement for and on behalf of the Issuer. Section 10. Ernst & Young, in the City of Tucson, Arizona, is hereby appointed to verify the accuracy of certain mathematical computations in connection with the issuance of the Bonds, as described under the caption "Verification of Mathematical Computations" in the Official Statement mentioned above. Section 11. The appointment of Wachovia Bank of North Carolina, N.A., in the City of Winston-Salem, North Carolina, as financial advisor to the Issuer in connection with the issuance of the Bonds, is hereby approved. Section 12. The County Manager and the Finance Director of the Issuer and their respective designees are hereby authorized and directed to take such other actions as may be necessary or appropriate to effectuate the refunding of the bonds to be refunded in connection with the issuance of the Bonds. Section 13. This resolution shall take effect upon its passage. Upon motion of Commissioner Fennel, seconded by Commissioner Barnhart and carried, the foregoing resolution entitled: "RESOLUTION PROVIDING FOR THE ISSUANCE OF $27,530,000 REFUNDING BONDS, SERIES 1993" was passed by the following vote: Ayes: Commissioners Fennel, Barnhart, Casper and Payne and Chairman Carpenter Noes: None Escrow Deposit Agreement UPON MOTION of Commissioner Payne, seconded by Commissioner Fennel and unanimously carried, the Board authorized the Chairman to execute the Escrow Deposit Agreement, dated as of November 1, 1993, by and between Cabarrus County and NationsBank of North Carolina, N.A. relative to the issuance of Refunding Bonds, Series 1993, as approved by the Board. The Escrow Deposit Agreement as approved is on file in the office of the County Manager. NEW BUSINESS CONSENT Budget Amendment Public Health UPON MOTION of Commissioner Barnhart, seconded by Commissioner Payne and unanimously carried, the Board approved the following budget amendment, BUDGET REVISION/AMENDMENT REQUEST DEPARTMENT OF PUBLIG HEALTH AMOUNT $13,000.00 TYPE OF ADJUSTMENT: Supplemental Request PURPOSE OF REQUEST: Allocation of Cannon Foundation Grant to the AMIP Program. To be used in Fiscal Year 93-94 and Fiscal Year 94-95.