LETTER OF CREDIT
RESOLUTION AUTHORIZING THE ACQUISITION OF A STANDBY LETTER OF
CREDIT IN CONNECTION WITH OBLIGATIONS OF THE COUNTY WITH RESPECT
TO THE PUTNAM COUNTY LANDFILL PROJECT, APPROVING AND
AUTHORIZING A REIMBURSEMENT AGREEMENT AND OTHER MATTERS IN
CONNECTION THEREWITH
The Board of County Commissioners of Putnam County,
Ohio, met in regular session on the 29th day of December, 2009, at the office
of said Board with the following members present: Mr. Vincent T. Schroeder, Mr. Travis A. Jerwers and Mr. John E.
Love.
Mr. Jerwers moved
the adoption of the following Resolution:
WHEREAS,
it is necessary for the County to obtain a standby letter of credit in
connection with its post closure obligations in connection with the Putnam
County Landfill Project and to execute a reimbursement agreement and related
documents related thereto;
NOW,
THEREFORE, BE IT RESOLVED by the Board of County Commissioners of the
County of Putnam, Ohio, that:
Section
1. This Board approves the
acquisition of a standby letter of credit to be issued by The Huntington
National Bank substantially in the form on file in the office of the Clerk of
this Board (the Letter of Credit).. At
least two members of this Board of Commissioners is authorized to execute on
behalf of the County a reimbursement agreement (the Reimbursement Agreement) in
connection with the issuance of the Letter of Credit substantially in the form
on file in the office of the Clerk of this Board, with such changes as are determined
by the officials signing the Reimbursement Agreement to be in the best
interests and financial advantages of the County, with such determinations to
be conclusively evidenced by the execution of the Reimbursement Agreement. This
Board further authorizes the execution of such other documents, certificates
and instruments as may be necessary to carry out the terms of the Reimbursement
Agreement and Letter of Credit by one or more of the County Commissioners or
other County officials as appropriate.
Section
2. This Board finds and determines
that all formal actions of this Board concerning and relating to the adoption
of this resolution were taken in an open meeting of this Board and that all
deliberations of this Board and of any committees that resulted in those formal
actions were in meetings open to the public in compliance with the law.
Mr.
Love seconded the resolution
and the roll being called upon its adoption, the vote resulted as follows: Mr.
Love yes Mr. Jerwers yes Mr. Schroeder yes