HomeMy WebLinkAboutNSN RES-2001-081 Supplemental Resolution related to the sale of refunding bonds authorized on 6-25-2011 by BOCC V - /0 J.6
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SUPPLEMENTAL BOND RESOLUTION
WHEREAS:
On June 25, 2001, the Board of Commissioners (the "Board") of Orange
County, North Carolina (the "County"), adopted a resolution providing for the sale
of certain refunding bonds, among other matters (the "Bond Resolution").
The Bond Resolution provided'that the refunding bonds would be subject to
prepayment by the County prior to their maturity. After consultation with the staff
of the North Carolina Local Government Commission and upon recommendation
from the County's financial advisor, the Finance Officer determined it would
enhance the savings to the County if the refunding bonds were not subject to
prepayment.
By this resolution, the Board ratifies this determination by the Finance
Officer.
BE IT THEREFORE RESOLVED by the Board of Commissioners of
Orange County, North Carolina, as follows:
1. Notwithstanding any other provision of the Bond Resolution, the
Refunding Bonds (as defined in the Bond Resolution) will not be subject to
redemption or prepayment prior to their maturities. The prior actions of the
Finance Officer and any other County representatives consistent with this
provision are ratified, approved and confirmed.
2. Except as provided above, the Board confirms the provisions of the
Bond Resoution.