AG 2009 10 19 - Laserfiche WebLink

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WHEREAS, the obligations of the County to make the Installment Payments and other payments pursuant to the 2001 Contract shall constitute limited obligations of the County payable solely from currently budgeted appropriations of the County and shall not constitute a pledge of the faith and credit of the County within the meaning of any constitutional debt limitation; WHEREAS, no deficiency judgment may be rendered against the County in any action for breach of a contractual obligation under the 2001 Contract, and the taxing power of the County is not and may not be pledged in any way directly or indirectly or contingently to secure any moneys due under the 2001 Contract; and WHEREAS, the Board of Commissioners desires to approve the Financing Documents and to authorize other actions in connection therewith; NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners, as follows: Section 1. All actions taken by or on behalf of the County to date to effectuate the proposed plan of refinancing, including the selection of the Underwriters and McGuireWoods LLP, as special counsel, are hereby ratified, approved and authorized pursuant to and in accordance with the transactions contemplated by the Financing Documents. Section 2. The refinancing of all or a portion of the prior installment financing contract and the Refinanced Project, and the granting of security interests therein, all as provided in the Financing Documents referenced in this Resolution, are hereby ratified and approved. Section 3. Each of the 2001 Contract Amendment, the 2009B Purchase Contract and the Escrow Agreement is hereby approved in substantially the form submitted to this meeting, and each of the Chairman of the Board of Commissioners or the County Manager is hereby authorized to execute and deliver each of those documents in the name and on behalf of the 4 326 G-3