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[PUBLICATION FORM] <br />NOTICE OF PUBLIC HEARING AND <br />ORDER AUTHORIZING $95,580,000 REFUNDING BONDS <br />BE IT ORDERED by the Board of Commissioners for the County of Cabarrus, North Carolina: <br />1. That, pursuant to The Local Government Bond Act, as amended, the County of Cabarrus, <br />North Carolina, is hereby authorized to contract a debt, in addition to any and all other debt which said <br />County may now or hereafter have power or authority to contract, and in evidence thereof, to issue <br />Refunding Bonds in an aggregate principal amount not exceeding $95,580,000, for the purpose of <br />providing funds, together with any other available funds, for (1) refunding all or a portion of the following <br />outstanding general obligation bonds of said County: <br />$38,400,000 School Bonds, Series 2005, dated March 1, 2005 and stated to mature on <br />March 1, 2013 to March 1, 2025, inclusive; <br />$41,500,000 Public Improvement Bonds, Series 2006, dated September 1, 2006 and <br />stated to mature on March 1, 2013 to March 1, 2027, inclusive; <br />and (ii) paying expenses related thereto. <br />2. That taxes shall be levied in an amount sufficient to pay the principal of and the interest <br />on said Refunding Bonds. <br />3. That a sworn statement of debt of said County shall be filed with the Clerk to the Board <br />of Commissioners pursuant to N.C.G.S § 159 -55 and be open to public inspection. <br />4. That this order shall take effect upon its adoption. <br />The foregoing order has been introduced and a sworn statement of debt has been filed under The <br />Local Government Bond Act showing the appraised value of the County of Cabarrus, North Carolina, to <br />be $18,545,659,802 and the net debt thereof, including the proposed bonds, to be $371,998,893.17. A tax <br />will be levied to pay the principal of and interest on the bonds if they are issued. Anyone who wishes to <br />be heard on the questions of the validity of the bond order and the advisability of issuing the bonds may <br />appear at a public hearing or an adjournment thereof to be held by the Board of Commissioners of said <br />County at a regular meeting at 6:30 p.m. or as soon thereafter as the hearing can be held on March 18, <br />2013 in the Commissioners' Meeting Room in the Cabarrus County Governmental Center in Concord, <br />North Carolina. <br />Clerk to the Board of Commissioners <br />for the County of Cabarrus, North Carolina <br />Attachment number 1 <br />G -1 Page 132 <br />