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AG 2009 05 18
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AG 2009 05 18
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Last modified
2/5/2010 12:56:16 PM
Creation date
11/27/2017 11:25:26 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
2/5/2010
Board
Board of Commissioners
Meeting Type
Regular
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C <br /> <br />THE INDEPENDENT TRIBUNE <br />May 6, 2009 <br />NOTICE OF PUBLIC BEARING <br />NOTICE IS IiEREDY GIVEN that the Doarrl of County <br />Commissioners (Ihe "Board") of the County of <br />Cabarrus, North Carolina (the "L'ounty"), will con- <br />duct apublic hearing on May I6, 2009 concerning <br />f W) <br />ti <br />J d <br />li <br />h <br />on anr <br />e <br />very o <br />une or more <br />e, execu <br />I <br />short term installment financln9 contract(s) with <br />one or more third parties and (b) one or more <br />luny-term installment financing contract(s) with <br />nne or more third parties (collectively, the "Con- <br />tracts") to finance all or a portion of kite costs of <br />(i) acquiring real property, (ii) constructing and <br />equipping new public school facilities, including <br />but not limited to two new elementary schools, a <br />new middle school, an addition to an exrs[mq ele- <br />mentary school and an addition to and renovation <br />of an extsUng high school, (iii) various real and <br />personal property improvements relater! to the <br />foregoing and (iv a portion of Ute Interest to ao <br />e <br />i <br />on <br />under the Contracts during the construct <br />cru <br />periods of [he foregoing and thereafter thrrnr99h <br />and including January 1, 2012 (collectively the <br />"Projects"). <br />The plan Of financing (or the Projects im^olvas (i) <br />the entry by the County into nne or more short- <br />terrn installment financing contract(s) with one or <br />more third parties vAto will .provide the County <br />with up l0 8100,000,000 pursuant to the terms of <br />the short-term utslallmenl financing contract(s), <br />which amounU- will be used to provrde interim fi• <br />nancing for the Projects pending execution and. <br />delivery of une or more luny-term financing <br />canlracl(s) and (ii) Ore entry. by the County into <br />one or more lony•tenn installment ,financingg <br />contract(s) with one or more third parties who tvlll <br />prnvirte the County with up to 5100,000,000 pur• <br />suant to Ihe terms of said one or more luny-term <br />installment financing contract(s), which amounts <br />will be applied to provide longterm financing for <br />rite Projects. The County's oblryations to any third <br />party supplying short-term or long-term financing <br />are authorized by North Carolina General Statutes <br />Ser,[ion 160A-20 and will be secured by a lien upon <br />or security interest in all or soiree portion of the <br />Projects and in all or some portion of [he real <br />property on which the Projects will be located. <br />The obii9ations of the County under the Contractr <br />ith <br />d <br />b <br />d <br />d t <br />b <br />l <br />d <br />f th <br />f <br />ill <br />an <br />not <br />e <br />eeme <br />o <br />e a p <br />e <br />ge o <br />e <br />a <br />w <br />credit of the County within ltte meaning of any <br />amslihilional debt limitation artd the Contracts <br />will net directly or indirectly or contingently obll• <br />q,~le the Cmmty to make any payments beyond <br />xe an <br />rlated in the sole discretion of the <br />(i • <br />ro <br />.: <br />. <br />p <br />p <br /><:~~un+.y fm any fiscal year in which the Contracts <br />n~? in ti~ffecP. No deficiency judgrru nt may be ren- <br />cl~rrd ayafnsl the County m any action for breach <br />of Ihe Contracts and Ihe taxing power of the <br />County is not and may not be pledged direrlly or <br />indirectly m- contingently to secure any moneys <br />due under the Contracts. <br />PLEASE TAKE NOTICE TI1AT 1'IiL' DOARD WILL HOLD <br />A f-UDLIC HEARING CONCERNING THE FLAP! OF FI- <br />NANCING AT 6:30 P. M. ON MONDAY, MAY 18, 2009, <br />IN THE COMMISSIONERS' IvfEETING ROOM IN TIDE <br />CADARRUS COUNTY GOVERNMENTAL CENTER, <br />CONCORD, NORTH CAROLINA, AT WtilCii APIY <br />PERSON MAY DE HEARD CONCERNING TITE PLAN <br />OF FINANCING- ANY PERSON WISHING TD COM- <br />MENT IN WRITING ON THE PLAN OF FINANCING <br />MAY DO 50 DY DEI_IVI?RING SUCii COMMENTS TO <br />TFIE. UNDERSIGIJEtt AT ti5 CHURCH ~TRE[r SE, <br />CONCOR0. NORTH CAROLINA, 28026, VJITFIIN 6 <br />DAYS FROAi ThIE DATE OF PLIDLICAI'ION OF THIS <br />1JO71CE. <br />' Pamela 5. Dubois <br />Finrnr.e Directo <br />Publish: P9av G, 2007. <br /> <br /> <br />G-2 <br />Attachment number 1 <br />Page 138 of 199 ' <br />
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