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1 <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br /> <br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />NOVEMBER 17, 2008 <br />6:30 P.M. <br />AGENDA CATEGORY: <br />New Business <br />SUBJECT: <br />Finance -Hold Public Hearing for Installment Financing Contract (G.S. <br />160A-20) with a Third Party for Acquiring Real Property for Park and <br />Recreational Purpose and Adopt Resolution Approving Installment <br />Financing Contract in an Aggregate Principal Amount Not to Exceed <br />$6,000,000 <br />BRIEF SUMMARY: <br />The Board of County Commissioners approved the issuance of <br />Installment Financing for the funding of acquiring real property for park <br />and recreational purposes on November 3, 2008. The next step is to <br />conduct a public hearing on the installment financing. The final step is <br />approval of the attached resolution approving the installment financing in <br />an amount not to exceed $6,000,000. The installment financing is <br />scheduled for Local Government approval on December 2, 2008. <br />REQUESTED ACTION: <br />Motion to hold a public hearing as required by G.S. 160A-20 on <br />installment financing contracts for the project described above and adopt <br />the resolution approving the installment contract financing in the <br />aggregate amount not to exceed $6,000,000 and the execution and <br />delivery by Cabarrus County related thereto, authorizing the execution <br />and delivery of related documents in connection there with, providing for <br />certain other related matters. <br />EXPECTED LENGTH OF PRESENTATION: <br />1 Minute <br />SUBMITTED BY: <br />Pamela S. Dubois, Deputy County Manager <br />Itern# 18 <br />G_2 358 of 408 <br />