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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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r <br />EXTRACT FROM MINUTES OF BOARD OF COMMISSIONERS OF <br />THE COUNTY OF CABARRUS, NORTH CAROLINA <br />The Board of Commissioners for the County of Cabarrus, North Carolina, met in regular session <br />in the Commissioners' Meeting Room in the Cabarrus County Governmental Center in Concord, North <br />Carolina, the regular place of meeting, at 6:30 p.m., on May 18, 2009, with , <br />Chairman, presiding. The following Commissioners were: <br />PRESENT: <br /> <br /> <br />ABSENT: <br />ALSO PRESENT: <br />* * * * * * * * * * <br />The Chairman announced that this was the date, place and hour fixed by the Board of <br />Commissioners for a public hearing concerning a proposed plan of financing in an aggregate principal <br />amount of up to $100,000,000, which plan would involve the entry by the County into (i) one or more <br />long-term installment financing contract(s) with the Cabarrus County Development Corporation (the <br />"Corporation") or one or more other third parties pursuant to North Carolina General Statutes 160A-20, as <br />amended, the proceeds of which would be used to pay all or a portion of the costs of (a) acquiring real <br />property, (b) constructing and equipping new public school facilities and expanding and renovating <br />existing public school facilities, including but not limited to two new elementary schools, a new middle <br />school, an addition to an existing elementary school and an addition to and renovation of an existing high <br />school, (c) various real and personal property improvements related to the foregoing and (d) a portion of <br />the interest to accrue under the installment financing contract(s) during the construction periods of the <br />foregoing and thereafter through and including January 1, 2012 (collectively, the "Projects"), and under <br />said one or more long-term installment financing contract(s) the County would secure the repayment by <br />the 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 some <br />portion of the real property upon which the Projects are located and (ii) into one or more short-term <br />installment financing contract(s) with one or more third parties pursuant to North Carolina General <br />Statutes 160A-20, as amended, the proceeds of which would be used to provide interim financing for all <br />G-2 <br />Attachment number 3 <br />Page 140 of 199 <br />l <br />I' <br />C <br />C <br />i~ <br />i] <br /> <br /> <br /> <br /> <br />
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