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HomeMy WebLinkAboutRES-2000-052 Resolution for Certificates of Participation (COPS) for New Orange County High School 4 - Zct R E s ©o 1 3 Resolution concerning the proposed installment financing for the planned new Orange County high school WHEREAS, Orange County has previously approved in principle a plan to finance a portion of the construction costs for a new high school for the Orange County school district through an installment financing contract, as authorized under Section 160A-20 of the North Carolina General Statutes; WHEREAS, by resolution adopted June 6, 2000, the Board of Commissioners made certain findings of fact and tentative determinations to proceed with such an installment financing, HWEREAS, those findings and determinations were made subject to the Board's further consideration in light of any public comment received at the public hearing that is required by law prior to such an installment financing; WHEREAS, the Board has now conducted the required public hearing; NOW, THEREFORE, BE IT RESOLVED that the Board of Commissioners of Orange County, North Carolina, confirms its determination to proceed with an installment financing for the new Orange County high school project, and confirms the findings of fact contained in the resolution of June 6; BE IT FURTHER RESOLVED that BB&T Capital Markets shall be retained as the County's senior managing underwriter for the installment financing; BE IT FURTHER RESOLVED that Finance Officer, the County's bond counsel and all other County officers and employees are authorized and directed to proceed with the formation of the nonprofit financing corporation necessary for the contemplated plan of financing; and BE IT FURTHER RESOLVED that the Finance Officer and all' other County officers and employees are authorized and directed to proceed with all such further action as they may consider necessary or desirable to complete the installment financing contemplated by this resolution.