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UPDATED <br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />DECEMBER 15, 2014 <br />6:30 P.M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Finance - Resolution Relating to Refinancing of Prior Certificates of <br />Participation (COPS) of Schools and Public Improvements <br />BRIEF SUMMARY: <br />The County's underwriters, Piper Jaffray & Co. has advised, given <br />appropriate market conditions, to refund all or a portion of Certificates of <br />Participation Series 2007, 2008A, 2008C and 2009 in order to realize <br />long -term debt payment savings. Should market conditions not provide <br />the required savings levels established by the Local Government <br />Commission, the County will not refinance the debt. <br />REQUESTED ACTION: <br />Motion to approve the Resolution Relating to Refinancing of Prior <br />Certificates of Participation in an aggregate principal amount up to <br />$211,615,000 and to schedule a public hearing for January 20, 2015 at <br />6:30 p.m. or as soon thereafter as persons may be heard. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Pamela Dubois, Deputy County Manager <br />Susan Fearrington, Finance Director <br />BUDGET AMENDMENT REQUIRED: <br />No <br />COUNTY MANAGER'S RECOMMENDATIONS /COMMENTS: <br />F -10 Page 153 <br />