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AG 2015 12 14
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AG 2015 12 14
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Last modified
12/15/2015 4:02:00 PM
Creation date
11/27/2017 10:40:27 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
12/14/2015
Board
Board of Commissioners
Meeting Type
Regular
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and (ii) various real and personal property improvements related to the foregoing (collectively, <br />the "Projects "), and under said one or more long -term installment financing contract(s) the <br />County would secure the repayment by the County of the moneys advanced pursuant to such one <br />or more long -term installment financing contract(s) by granting a security interest in and lien on <br />all or some portion of the Projects or all or some portion of the real property upon which the <br />Projects are located; <br />WHEREAS, as part of said proposed plan of financing, the Corporation may also execute <br />and deliver one or more series of Limited Obligation Bonds and /or Certificates of Participation <br />in said one or more long -term installment financing contract(s) in an aggregate principal amount <br />not exceeding $112,000,000 to finance the advancement of moneys to the County pursuant to <br />said one or more long -term installment financing contract(s) between the County and the <br />Corporation or one or more other third parties; <br />WHEREAS, as part of the proposed plan of financing for the Projects, the Board of <br />Commissioners further desires to authorize interim financing for all or some portion of the <br />Projects in an aggregate principal amount of up to $112,000,000, which would involve the entry <br />by the County into one or more short-term installment financing contract(s) with one or more <br />third parties pursuant to North Carolina General Statutes 160A -20, as amended, the proceeds of <br />which would be used to provide interim financing for all or some portion of the Projects pending <br />execution and delivery of said one or more long -term financing contract(s) and the related <br />Limited Obligation Bonds and /or Certificates of Participation, if any, and under said one or more <br />short-term installment financing contract(s) the County would secure the repayment by the <br />County of the moneys advanced pursuant to such short-term installment financing contract(s) by <br />granting a security interest in and lien on all or some portion of the Projects or all or some <br />portion of the real property upon which the Projects are located; and <br />WHEREAS, North Carolina General Statutes 160A -20, as amended, requires that the <br />Board of Commissioners must hold a public hearing concerning the one or more short-term <br />installment financing contract(s), the one or more long -term installment financing contract(s) and <br />the transactions contemplated thereby and associated therewith, with notice of said public <br />hearing to be published once at least 10 days before the date of the public hearing; <br />2 Attachment number 1 \n <br />F -7 Page 238 <br />
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