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AG 2010 08 16
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AG 2010 08 16
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Last modified
11/15/2011 8:11:31 AM
Creation date
11/27/2017 11:23:04 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
8/16/2010
Board
Board of Commissioners
Meeting Type
Regular
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NOTICE OF PUBLIC HEARING <br />NOTICE IS HEREBY GIVEN that the Board of County Commissioners (the "Board ") of <br />the County of Cabarrus, North Carolina (the "County "), will conduct a public hearing on <br />September 20, 2010 concerning the execution and delivery of (a) one or more short-term <br />installment financing contract(s) with one or more third parties and (b) one or more long -term <br />installment financing contract(s) with one or more third parties (collectively, the "Contracts ") to <br />finance all or a portion of the costs of (i) acquiring real property, (ii) constructing and equipping <br />new public school facilities and expanding, rehabilitating, renovating and equipping existing <br />public school facilities and (iii) various real and personal property improvements related to the <br />foregoing (collectively the "Projects "). <br />The plan of financing for the Projects involves (i) the entry by the County into one or <br />more short -term installment financing contract(s) with one or more third parties who will provide <br />the County with up to $14,637,160 pursuant to the terms of the short-term installment financing <br />contract(s), which amounts will be used to provide interim financing for the Projects pending <br />execution and delivery of one or more long -term financing contract(s) and (ii) the entry by the <br />County into one or more long -term installment financing contract(s) with one or more third <br />parties who will provide the County with up to $14,637,160 pursuant to the terms of said one or <br />more long -term installment financing contract(s), which amounts will be applied to provide long- <br />term financing for the Projects. The County's obligations to any third party supplying short-term <br />or long -term financing are authorized by North Carolina General Statutes Section 160A -20 and <br />will be secured by a lien upon or security interest in all or some portion of the Projects and in all <br />or some portion of the real property on which the Projects will be located. <br />The obligations of the County under the Contracts will not be deemed to be a pledge of <br />the faith and credit of the County within the meaning of any constitutional debt limitation and the <br />Contracts will not directly or indirectly or contingently obligate the County to make any <br />payments beyond those appropriated in the sole discretion of the County for any fiscal year in <br />which the Contracts are in effect. No deficiency judgment may be rendered against the County <br />in any action for breach of the Contracts and the taxing power of the County is not and may not <br />be pledged directly or indirectly or contingently to secure any moneys due under the Contracts. <br />PLEASE TAKE NOTICE THAT THE BOARD WILL HOLD A PUBLIC HEARING <br />CONCERNING THE PLAN OF FINANCING AT 6:30 P.M. ON MONDAY, SEPTEMBER 20, <br />2010, IN THE COMMISSIONERS' MEETING ROOM IN THE CABARRUS COUNTY <br />GOVERNMENTAL CENTER, CONCORD, NORTH CAROLINA, AT WHICH ANY <br />PERSON MAY BE HEARD CONCERNING THE PLAN OF FINANCING. ANY PERSON <br />WISHING TO COMMENT IN WRITING ON THE PLAN OF FINANCING MAY DO SO BY <br />DELIVERING SUCH COMMENTS TO THE UNDERSIGNED AT 65 CHURCH STREET SE, <br />CONCORD, NORTH CAROLINA, 28025, WITHIN 5 DAYS FROM THE DATE OF <br />PUBLICATION OF THIS NOTICE. <br />Pamela S. Dubois <br />Finance Director <br />ki <br />Attachment number 2 <br />G -2 Page 210 <br />
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