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AG 2017 04 18
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AG 2017 04 18
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4/21/2017 2:40:43 PM
Creation date
11/27/2017 10:28:06 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
4/18/2017
Board
Board of Commissioners
Meeting Type
Regular
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the transactions contemplated thereby and associated therewith, with notice of said public hearing <br /> to be published once at least 10 days before the date of the public hearing; <br /> NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners, as <br /> follows: <br /> Section 1. The Board of Commissioners hereby finds and confirms that (i) the Projects <br /> and the financing thereof by one or more short-term contract(s) and one or more long-term <br /> contract(s)is necessary and expedient for the County; (ii) financing of the Projects by one or more <br /> short-term contract(s) and one or more long-term contract(s), under the circumstances, is <br /> preferable to a bond issue by the County; (iii) the sums to fall due under one or more short-term <br /> contract(s)and one or more long-term contract(s)are adequate and not excessive for their proposed <br /> purpose; (iv) the County's debt management procedures and policies are good and its debt will <br /> continue to be managed in strict compliance with law; (v) the increase in taxes, if any, necessary <br /> to meet the sums to fall due under one or more short-term contract(s) and one or more long-term <br /> contract(s) will not be excessive; and (vi) the County is not in default regarding any of its debt <br /> service obligations. <br /> Section 2. As required by §160A-20 of the North Carolina General Statutes, as amended, <br /> a public hearing shall be held by the Board of Commissioners on May 15, 2017 at 6:30 p.m., or as <br /> soon thereafter as practicable, in the Commissioner's Meeting Room in the Cabarrus County <br /> Governmental Center in Concord, North Carolina, concerning the proposed execution of one or <br /> more short-term installment financing contract(s) and related documents, the execution of one or <br /> more long-term installment financing contract(s) and related documents, the proposed financing <br /> of the Projects and any other transactions associated therewith. The Clerk to the Board of <br /> Commissioners is directed to cause a notice of such public hearing, substantially in the form <br /> attached hereto as Exhibit A, to be published once in a qualified newspaper of general circulation <br /> within the County not less than 10 days prior to said public hearing. <br /> Section 3. The appropriate officers of the County are hereby authorized and directed to do <br /> any and all things necessary, appropriate or convenient to effectuate the foregoing and the <br /> proposed plan of financing, including without limitation filing one or more applications with the <br /> North Carolina Local Government Commission seeking approval of the plan of financing or any <br /> component thereof, the publication of any required notices related thereto, consideration and <br /> 3 <br /> F-5 Page 104 <br />
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