HomeMy WebLinkAboutRES-1996-056 Resolution Approving, In Principle, a Financing Plan for Southern Village Elementary School and Accepting Title to the Proposed School Site 3 '7
Res - Ici q � - vs�
ORANGE COUNTY, NORTH CAROLINA
Excerpt from N inutes of the Board of Coannissioaers' Meeting
NoTesmber 19, 19%
Tlie Board of Commissioners of Orange County, North Carolina, held a regular meeting
an November 19, 1996, at the OWASA meeting room in Carrboro, North Carolina.
Commissioners present were: Chair Moses Carey, Jr. , and Commissioners
William L. Crowther, Alice M. Gordon, Stephen H. Halkiotis and
Don Willhoit
Absent: NONE
Among the others amending the m=ftg were the following
s s s • . -.
The County Manager informed the Board that the neat item of business was to consider
preliminary Board action related to the proposed installmen# financing for Southern Village
Mementary School, as previously considered by the Board, including approval for the County
to acquire the school sue. The County Manager then pressed the following resolution for the
Board's consideration and read its tick:
RESOLUTION APPROVING, IN PRINCIPLE, A FINANCING PLAN FOR
SOUTHERN VILLAGE ELEMENTARY SCHOOL, AND ACCZPTING TITLE TO
THE PROPOSED SCHOOL STTE
MWEE4S:
The Pond of Commissioners of Orange County, North Carolina, in collaboration with
the school boards for the two school administrative units in the County, has previously
dent:mined to proceed with a plan for capital imp over wets for schools in the County, inchuding
the acquisition and won of the planned new Southern Village Blcaxntary School (the
New School").
4
There has been described to the County's Board of Commissioners a plan for the
installment financing of the New School pursuant to agrernnenrs to be entered into with, among
others, BB&T - (the "Bank").
BE IT RESOLVED by the Orange C m2ty Board of Commissionm:
1. The County hereby determines to undertalre an instaliaaent financing of the New
School with the Bank. The County's officers are hereby authorized and directed to proceed with
the preparation of appropriate documents and to take all such feather action as they may consider
necessary or desirable in connection with carrying out the proposed plan of financing. This
approval is subject to the Board's subsequent farther approval of financing terms, conditions and
documents.
2. The County hereby determines to accept a deed to the real property upon which
the New School is to be coagW=ed. The County Manager is hereby authorized to accept a deed
to such property on the County's behalf. The deed shall be in such form as the County
Manager, in consultation with the County Attorney, shall deem Appropriate.
2. All other actions of County officzn in conformity with the purposes and infants
of this resolutions are hereby ratified, approved and confirmed. All other resohrtions or parts
thereof in convict herewith, to the extent of such conflict, are hereby repealed. This resolution
shall take affect immediately.
After discussion, Commissioner Willhoit moved the page of the foregoing
reaohojon, Commissioner Halkiotis seconded the motion, and the resolution was
adopted by the following vote:
Ayes: Q nmissiioners Carey, Crowther, Halkiotis, Gordon and Willhoit
Nays: None
Not vodng: None
u
5
* s s s s s s
I, Beverly Blythe , Clerk of the Board of Commissioners of Orange County, North
Carolina, DO HEREBY CERTIFY that the foregoing is a true extract from the minutes of a
meeting of such Board duly called and held on November 18, 1996, at which a quorum was
present and acting throughout.
VWffNESS my hand and the County's official seal this�2,�Z.day of November,- 19%_
(OFFICIAL SEAL) M 4.
ler]c, o
Orange Ca xny+, North Carolina