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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />SEPTEMBER 20, 2010 <br />6:30 P.M. <br />AGENDA CATEGORY: <br />New Business <br />SUBJECT: <br />Finance - Qualified School Construction Bonds (QSCB) - Resolution <br />Approving Installment Contract Financing for Various Public School <br />Projects in an Aggregate Principal Amount up to $14,637,160 and the <br />Execution and Delivery by the Cabarrus County Development Corporation <br />of Certificates of Participation and /or Limited Obligation Bonds Related <br />Thereto, Authorizing the Execution and Delivery of Related Documents in <br />Connection Therewith, and Providing for Certain Other Related Matters - <br />Public Hearing - 6:30 p.m. <br />BRIEF SUMMARY: <br />Commissioners are exploring the issuance of debt for the addition and <br />repair of various public schools. Commissioners will hold a public hearing <br />at its September 20 meeting regarding the financing of the project, <br />including deferring principal for 5 years with no interest payments <br />throughout the term of the debt. Should the Board decide to move forward <br />with the proposed financing of the project, a public hearing must be held <br />and the following resolution adopted: Resolution Approving Installment <br />Contract Financing for Various Public School Projects in an Aggregate <br />Principal Amount up to $14,637,160 and the Execution and Delivery by <br />the Cabarrus County Development Corporation of Certificates of <br />Participation and /or Limited Obligation Bonds Related Thereto, Authoring <br />the Execution and Delivery of Related Documents in Connection <br />Therewith, and Providing for Certain Other Related Matters. <br />REQUESTED ACTION: <br />1. Hold Public Hearing. <br />2. Consider a motion to adopt the resolution. <br />Page 345 <br />G -4 <br />