AG 2010 09 20 - 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 September 20, 2010, with , Chairman, presiding. The following Commissioners were: PRESENT: ABSENT: ALSO PRESENT: The Chairman announced that this was the date, place and hour fixed by the Board of Commissioners for a public hearing concerning 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 (a) acquiring real property, (b) constructing and equipping new public school facilities and expanding, rehabilitating, renovating and equipping existing public school facilities and (c) 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 contract(s) by granting a security interest in and lien on all or a portion of the Projects or all or some portion of the real property upon which the Projects are located, which plan of financing and Project were described in the notice of public hearing published in The Independent Tribune on August 27, 2010 (the "Notice "). The Board of Commissioners first ratified and approved the designation of the meeting as a public hearing on the proposed plan of financing, the call of the public hearing and publication of the Notice. AOaxde" number 3 G -4