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<br />~! <br />school, (iii) various real and personal property improvements related to the foregoing and (iv) a <br />portion of the interest to accrue under the installment financing contract(s) during the <br />construction periods of the foregoing (collectively, the "Projects"), and under said one or more <br />long-term installment financing contract(s) the County would secure the repayment by the <br />County of the moneys advanced pursuant to such one or more long-term installment financing <br />contract(s) by granting a security interest in and lien on all or a portion of the Projects or all or <br />some portion of the real property upon which the Projects are located; <br />WHEREAS, as part of said proposed plan of financing, the Corporation will execute and <br />deliver one or more series of Certificates of Participation in said one or more long-term <br />installment financing contract(s) in an aggregate principal amount not exceeding $130,000,000 <br />to finance the advancement of moneys to the County pursuant to said one or more long-term <br />installment financing contract(s) between the County and the Corporation; <br />WHEREAS, as part of the proposed plan of financing for the Projects, the Board of <br />Commissioners further desires to authorize interim financing for all or some portion of the <br />Projects in an aggregate principal amount of up to $130,000,000, which would involve the entry <br />by the County into one or more short-term installment financing contract(s) with one or more <br />third parties pursuant to North Carolina General Statutes 160A-20, as amended, the proceeds of <br />which would be used to provide interim financing for all or some portion of the Projects pending <br />execution and delivery of said one or more long-term financing contract(s) and the related <br />Certificates of Participation, if any, and under said one or more short-term installment financing <br />contract(s) the County would secure the repayment by the County of the moneys advanced <br />interest in <br />it <br />ti <br />b <br />i <br />ng a secur <br />y <br />y gran <br />ng contract(s) <br />pursuant to such short-term installment financ <br />and lien on all or a portion of the Projects or all or some portion of the real property upon which <br /> <br />the Projects are located; and <br />WHEREAS, North Carolina General Statutes 160A-20, as amended, requires that the <br />Board of Commissioners must hold a public hearing concerning the one or more short-term <br />installment financing contract(s), the one or more long-term installment financing contract(s) and <br />the transactions contemplated thereby and associated therewith, with notice of said public <br />hearing to be published once at least 10 days before the date of the public hearing; <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners, as follows: <br />2 Item# 15 <br />Attachment number 1 <br />G- 4 Page 197 of 253 ' <br />