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CABARRUS COUNTY <br />BOARD OF • • <br />REGULAR MEETING <br />1� <br />p TBcA�a 11i MARCH 18 20 <br />��fiiffJfl /�� <br />1 <br />AGENDA CATEGORY: <br />New Business <br />SUBJECT: <br />Finance - Refunding General Obligation Bonds in an Aggregate Principal <br />Amount up to $95,580,000 & Public Hearing - 6:30 P.M. <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 />This public hearing was scheduled at the February 18, 2013 Board of <br />Commissioners' meeting for the March 18, 2013 regular meeting. <br />REQUESTED ACTION: <br />Hold a public hearing regarding bond order authorizing refinancing of prior <br />General Obligation Bonds up to $95,580,000. <br />Motion to adopt the Order Authorizing $95,580,000 Refunding Bonds. <br />Motion to adopt the Resolution Providing for the Issuance of $62,390,000 <br />General Obligation Bonds, Series 2013 subject to Adjustments as <br />provided herein. <br />EXPECTED LENGTH OF PRESENTATION: <br />1 Minute <br />SUBMITTED BY: <br />Ann Wilson, Finance Director <br />G -1 Page 184 <br />