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HomeMy WebLinkAbout0992 ~ - - _ i _ . , _ - . . . : ~ ~ . ~ : . , r - , , , ~ • - - - - - . - i ~ t 3 _ ~ - : - ' ~ ~ ~ ~ . _ . ~ , . - . t. , ~ . ~ . - r ' : . = _ - _ x ~ - - - ,~;LL. ~ - , : ` ~ - _ ~ - _ a ~ _ _ ~ ~ _ i. ° = ~ ~ ~ - ~ 1 ' - ~ ~ ' r i - r f t . Y , { . " I ~ ' z~ { . . . ~ _ ~ ~~~s a.. s~.' .r Y `.1.- _ i 1L '~r -.s.....~...~3.'F 4 _ t ~.i ~ ~cl..i q - ':+S,:sL-:~a`~ ~ . ~ ~ ~ ' _ . ` . . . . . . . . _ _ . . . ~ - . _ . . . ~ ~ . ~ . ~ ~ ~ ~ , . . i~ . . . . . + . . . . . , . . . . , , . " . ' ,.(~if~i~9 recei.gt by the County or the Noteholder. of ~n opinion o~ a ~ nationally recognized tiond counsel ihat'any `intere.st ~n ttie Note z _ - . . ha.s become includable in the : gross income of ttie t,~teholder ~or. 3;~ ~ederal _income tnx purposes. ` For',all pu=poses of this definition : i~ Tax Violation shall be deemed to occur on the date a?s of which• ~ _ the interest on the Note is.deemed includatile ~n ~the gross incon~e . ~ of the 'Noteholder. ~ SECTION 3.; FINDINGS. It is hereby found, dec~ared, and deterra~ned by the Board that:. . ~ ~A~. It h~?s heretofore been determine~ that it is necessary a~nd desirsble to Einance the Project;Costs. ~ ~,t ( B). It . fs necessary, and uirqent that funds ' b~ made imane- ; diately available to ~the ' Caunty in order to : n?ake ` the capfta2.: improvementg which constitute the Project. . • ~~C3 ~e ~nder in and throuqh the Cammftment I.etter - has offered to lend moneya to the County upon the tes~nes and con- . ditions specified therein, .and tt~e Boazd h~?s heretofore: ~ound , nnd ' ' determined th~t it is i:~ the bes-t interest of the County and its _ residents_ that ~the affer o~ the LenBer be accepte~! ~.and tha~ the County be- authorized ta deliver ~a Noie~ of ~he Ccuntg to t,h~ . _ - Lender as evidence of the obltqation of t~e County tv repay the ~ fund~ so borrowed. _ _ • ~ = (D) The eecurity~ for repayn?ent Qf the .~ote: shall be limitad to the Pledge~ Kevenues, and the Note shall~ not be-nor bs . ~ :s . ~ . _ - ' ~ . ~w . . . . _ 1 ROF ( LUCI~--30 ~ lA--15 (11/16/g'I ) • ~ ~ ~ ~ . ' 604lC PA~ a717't ~ F~ , f, . . ~ . - . ~ . . . _ _ . . . ~ . ~ ~ . . . . ~ -~_.y _ - _ ' - - _ _ ' ' _ v2 -~~i.~ .~..++-~T.+- ` _