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~i <br />CABARRUS COUNTY <br />'~, BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />„ JANUARY 20, 2009 <br />6:30 P.M. <br />1 <br />AGENDA CATEGORY: <br />New Business <br />SUBJECT: <br />Finance - Resolution Relating to Refinancing of Prior Installment <br />Financing Contracts of Various Public Projects and Calling for a Required <br />Public Hearing <br />BRIEF SUMMARY: <br />The County's underwriters have advised, given appropriate market <br />conditions, refinancing one or more installment financing contracts to <br />realize long-term debt payments savings. Should the market conditions <br />not provide the required savings levels established by the Local <br />Government Commission, the County will not refinance the debt. <br />REQUESTED ACTION: <br />Motion to approve the Resolution Relating to Refinancing of Prior <br />Installment Contract Financing Various Public Projects in an Aggregate <br />Principal amount up to $60,000,000 and the Execution and delivery by the <br />Cabarrus County Development Corporation of one or more series of <br />Certificates of participation related thereto and schedule the required <br />Public Hearing for February 16, 2009. <br />EXPECTED LENGTH OF PRESENTATION: <br />1 Minute <br />SUBMITTED BY: <br />Pamela S. Dubois, Deputy County Manager <br />BUDGET AMENDMENT REQUIRED: <br />No <br />Item# 14 <br />COUNTY MANAGER'S RECOMMENDATIONS/COMMENTS: <br />G - 3 Page 187 of 253 ' <br />