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C THE INDEPENDENT TRIBUNE May 6, 2009 NOTICE OF PUBLIC BEARING NOTICE IS IiEREDY GIVEN that the Doarrl of County Commissioners (Ihe "Board") of the County of Cabarrus, North Carolina (the "L'ounty"), will con- duct apublic hearing on May I6, 2009 concerning f W) ti J d li h on anr e very o une or more e, execu I short term installment financln9 contract(s) with one or more third parties and (b) one or more luny-term installment financing contract(s) with nne or more third parties (collectively, the "Con- tracts") to finance all or a portion of kite costs of (i) acquiring real property, (ii) constructing and equipping new public school facilities, including but not limited to two new elementary schools, a new middle school, an addition to an exrs[mq ele- mentary school and an addition to and renovation of an extsUng high school, (iii) various real and personal property improvements relater! to the foregoing and (iv a portion of Ute Interest to ao e i on under the Contracts during the construct cru periods of [he foregoing and thereafter thrrnr99h and including January 1, 2012 (collectively the "Projects"). The plan Of financing (or the Projects im^olvas (i) the entry by the County into nne or more short- terrn installment financing contract(s) with one or more third parties vAto will .provide the County with up l0 8100,000,000 pursuant to the terms of the short-term utslallmenl financing contract(s), which amounU- will be used to provrde interim fi• nancing for the Projects pending execution and. delivery of une or more luny-term financing canlracl(s) and (ii) Ore entry. by the County into one or more lony•tenn installment ,financingg contract(s) with one or more third parties who tvlll prnvirte the County with up to 5100,000,000 pur• suant to Ihe terms of said one or more luny-term installment financing contract(s), which amounts will be applied to provide longterm financing for rite Projects. The County's oblryations to any third party supplying short-term or long-term financing are authorized by North Carolina General Statutes Ser,[ion 160A-20 and will be secured by a lien upon or security interest in all or soiree portion of the Projects and in all or some portion of [he real property on which the Projects will be located. The obii9ations of the County under the Contractr ith d b d d t b l d f th f ill an not e eeme o e a p e ge o e a w credit of the County within ltte meaning of any amslihilional debt limitation artd the Contracts will net directly or indirectly or contingently obll• q,~le the Cmmty to make any payments beyond xe an rlated in the sole discretion of the (i • ro .: . p p <:~~un+.y fm any fiscal year in which the Contracts n~? in ti~ffecP. No deficiency judgrru nt may be ren- cl~rrd ayafnsl the County m any action for breach of Ihe Contracts and Ihe taxing power of the County is not and may not be pledged direrlly or indirectly m- contingently to secure any moneys due under the Contracts. PLEASE TAKE NOTICE TI1AT 1'IiL' DOARD WILL HOLD A f-UDLIC HEARING CONCERNING THE FLAP! OF FI- NANCING AT 6:30 P. M. ON MONDAY, MAY 18, 2009, IN THE COMMISSIONERS' IvfEETING ROOM IN TIDE CADARRUS COUNTY GOVERNMENTAL CENTER, CONCORD, NORTH CAROLINA, AT WtilCii APIY PERSON MAY DE HEARD CONCERNING TITE PLAN OF FINANCING- ANY PERSON WISHING TD COM- MENT IN WRITING ON THE PLAN OF FINANCING MAY DO 50 DY DEI_IVI?RING SUCii COMMENTS TO TFIE. UNDERSIGIJEtt AT ti5 CHURCH ~TRE[r SE, CONCOR0. NORTH CAROLINA, 28026, VJITFIIN 6 DAYS FROAi ThIE DATE OF PLIDLICAI'ION OF THIS 1JO71CE. ' Pamela 5. Dubois Finrnr.e Directo Publish: P9av G, 2007. G-2 Attachment number 1 Page 138 of 199 '