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<br />CABARRUS COUNTY <br />,lam <br />~~~~ , <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />~~RO MAY 18, 2009 <br />6:30 P.M. <br /> <br />AGENDA CATEGORY: <br />New Business <br />SUBJECT: <br />Finance -Resolution Approving Installment Contract Financing for Various <br />Public School Projects in an Aggregate Principal Amount up to <br />$100,000,000 and the Execution and Delivery by the Cabarrus County <br />Development Corporation of Certificates of Participation Related Thereto, <br />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 construction of <br />four new public schools and the renovation and wing addition to one high <br />school. Commissioners will hold a public hearing at its May 18 <br />meeting regarding the financing of the project, including capitalizing <br />interest on the debt during the construction periods of the project and <br />thereafter through and including January 1, 2012. Should the Board <br />decide to move forward with the proposed financing of the project, a <br />public hearing must be held and the following resolution adopted: <br />Resolution Approving Installment Contract Financing for Various Public ^ <br />School Projects in an Aggregate Principal Amount up to $100,000,000 <br />and the Execution and Delivery by the Cabarrus County Development <br />Corporation of Certificates of Participation Related Thereto, Authorizing <br />the Execution and Delivery of Related Documents in Connection <br />Therewith, and Providing for Certain Other Related Matters. <br /> <br />REQUESTED ACTION: <br />1. Review and discuss options. ' <br />2. Hold a public hearing. <br />3. Consider a motion to adopt the resolution. <br /> ' <br />EXPECTED LENGTH OF PRESENTATION: <br /> <br />G-2 Page 136 of 199 ' <br />