4630

COUNTY LOCAL LAWS

findings and determinations, among others, concerning the public
benefit and purpose of the revenue bonds and other obligations
authorized to be issued hereby; providing that this Resolution
shall constitute a commitment to issue the revenue bonds and
other obligations so authorized and that the authority and
commitment of the County to issue revenue bonds and other
obligations pursuant to this Resolution shall be of a limited
duration and making provisions for the extension of the authority
contained herein; authorizing the County Executive of the County
to accept, on behalf of the County, the letter of intent to the
County from the Borrower dated April 30, 1985; providing that
such revenue bonds and other obligations (i) shall be payable
solely from revenue derived by the County in connection with the
financing of the facility, including, but not limited to, loan
repayments (both principal and interest) made to the County by
the Borrower or from the proceeds of bonds or other obligations
issued for the purpose of refunding other obligations, and (ii)
shall not ever constitute, within the meaning of any statutory
limitation, constitutional or charter provision, or otherwise
indebtedness of the County or (b) a charge against the general
credit or taxing powers of the County; providing the maximum term
of maturity for the bonds or other obligations issued pursuant to
this Resolution; authorizing the County Executive of the County,
or the Director of Administration, Deputy Director of
Administration, Budget Officer, or Controller of the County with
the approval of the County Executive of the County, to specify,
prescribe, determine, provide for, or approve certain details,
forms, documents, or procedures in connection with the bonds or
other obligations issued hereunder and the loan of the proceeds
of such bonds or other obligations to the Borrower and any other
matters necessary or desirable in connection with the
authorization, issuance, sale, and payment of such revenue bonds
or other obligations; authorizing the County Executive, or the
Director of Administration, Deputy Director of Administration,
Budget Officer, or Controller of the County with the approval of
the County Executive, to take certain actions, to execute
documents and make certain commitments on behalf of the County in
connection with the issuance, sale, and delivery of such bonds or
other obligations; authorizing the execution and delivery of the
bonds or other obligations and such other documents as may be
necessary or desirable to effectuate the aforementioned borrowing
and the issuance, sale, and delivery of the bonds or such other
obligations; providing that approval of this Resolution by the
County Executive shall constitute the agreement of the County
Executive to report to the County Council on certain matters
pertaining to the bonds or other obligations; and generally
providing for, and determining, various matters in connection
with the issuance, sale, delivery, and payment of such bonds or
other obligations.

Approved May 31, 1985.

Resolution No. 54-85