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CABARRUS COUNTY <br />* <br />REGULAR MEETING <br />FEBRUARY 18, 2013 <br />jr f�iffJfl�� <br />1 P .M. <br />AGENDA CATEGORY: <br />New Business <br />SUBJECT: <br />Finance - Resolution Relating to Refinancing of Prior General Obligation <br />Bonds of Schools and Public Improvements and Call for Required Public <br />Hearing <br />BRIEF SUMMARY: <br />The County's underwriters have advised, given appropriate market <br />conditions, to refund general obligation bonds Series 2005 and 2006 in <br />order to realize long -term debt payment savings. Should the market <br />conditions not provide the required savings levels established by the Local <br />Government Commission, the County will not refinance the debt. <br />REQUESTED ACTION: <br />Motion to approve the Resolution Relating to Refinancing of Prior General <br />Obligation Bonds in an aggregate principal amount up to $ 95,580,000 <br />and to schedule the required Public Hearing for March 18, 2013. <br />EXPECTED LENGTH OF PRESENTATION: <br />10 Minutes <br />SUBMITTED BY: <br />Ann M Wilson, Finance Director <br />BUDGET AMENDMENT REQUIRED: <br />No <br />COUNTY MANAGER'S RECOMMENDATIONS /COMMENTS: <br />This item was approved by the Board for inclusion on the Agenda as a <br />G -1 Page 128 <br />