AG 2010 08 16 - Laserfiche WebLink

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EXTRACT FROM MINUTES OF BOARD OF COMMISSIONERS OF THE COUNTY OF CABARRUS, NORTH CAROLINA The Board of Commissioners for the County of Cabarrus, North Carolina, met in regular session in the Commissioners' Meeting Room in the Cabarrus County Governmental Center in Concord, North Carolina, the regular place of meeting, at 6:30 p.m., on August 16, 2010, with , Chairman, presiding. The following Commissioners were: PRESENT: ABSENT: ALSO PRESENT: RESOLUTION RELATING TO LONG -TERM INSTALLMENT CONTRACT FINANCINGS OF VARIOUS PUBLIC SCHOOL PROJECTS IN AN AGGREGATE PRINCIPAL AMOUNT UP TO $14,637,160; AUTHORIZING INTERIM INSTALLMENT CONTRACT FINANCINGS FOR SUCH PROJECTS IN AN AGGREGATE PRINCIPAL AMOUNT UP TO $14,637,160; AUTHORIZING THE EXECUTION AND DELIVERY BY THE CABARRUS COUNTY DEVELOPMENT CORPORATION OF CERTIFICATES OF PARTICIPATION RELATED TO LONG -TERM INSTALLMENT CONTRACT FINANCINGS AND CALLING REQUIRED PUBLIC HEARING WHEREAS, the Board of Commissioners desires to undertake a proposed plan of financing in an aggregate principal amount of up to $14,637,160, which plan would involve the entry by the County into one or more long -term installment financing contract(s) with the Cabarrus County Development Corporation (the "Corporation ") or one or more other third parties pursuant to North Carolina General Statutes 160A -20, as amended, the proceeds of which would be used to pay all or a portion of the costs of (i) acquiring real property, (ii) constructing and equipping new public school facilities and expanding, rehabilitating, renovating and equipping existing public school facilities and (iii) various real and personal property improvements related to the foregoing (collectively, the "Projects "), and under said one or more long -term installment financing contract(s) the County would secure the repayment by the County of the moneys advanced pursuant to such one or more long -term installment financing Attachment number 2 G_2 Page 206