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AG 2007 05 21
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AG 2007 05 21
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Last modified
1/3/2008 3:42:21 PM
Creation date
11/27/2017 11:30:33 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
5/21/2007
Board
Board of Commissioners
Meeting Type
Regular
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NOTICE OF PUBLIC HEARING <br />NOTICE IS HEREBY GIVEN that the Board of County Commissioners (the "Board") of <br />the County of Cabarrus, North Carolina (the "County"), will conduct a public hearing on June <br />18, 2007 concerning the execution and delivery of one or more installment financing contract(s) <br />with one or more third parties (collectively, the "Contracts") to finance all or a portion of the <br />costs of acquiring real property, constructing, renovating and equipping new public school <br />facilities, expansion or renovation of existing public school facilities, vazious real and personal <br />property improvements related to the foregoing and a portion of the interest to accrue under the <br />Contracts during the construction period (collectively the "Project"). <br />The plan of financing for the Project involves the entry by the County into one or more <br />installment financing contract(s) with one or more third parties who will provide the County with <br />up to $9,900,000 pursuant to the terms of the installment financing contract(s), which amounts <br />will be used to provide financing for the Project. The County's obligations to any third party <br />supplying financing aze authorized by North Carolina General Statutes Section 160A-20 and will <br />be secured by a lien upon or security interest in all or some portion of the Project and in the real <br />property on which the Project will be located. <br />The obligations of the County under the Contracts will not be deemed to be a pledge of <br />the faith and credit of the County within the meaning of any constitutional debt limitation and the <br />Contracts will not directly or indirectly or contingently obligate the County to make any <br />payments beyond those appropriated in the sole discretion of the County for any fiscal year in <br />which the Contracts are in effect. No deficiency judgment may be rendered against the County <br />in any action for breach of the Contracts and the taxing power of the County is not and may not <br />be pledged directly or indirectly or contingently to secure any moneys due under the Contracts. <br />PLEASE TAKE NOTICE THAT THE BOARD WILL HOLD A PUBLIC HEARING <br />CONCERNING THE PLAN OF FINANCING AT 6:30 P.M. ON MONDAY, JUNE 18, 2007, <br />IN THE COMMISSIONERS' MEETING ROOM IN THE CABARRUS COUNTY <br />GOVERNMENTAL: CENTER, CONCORD, NORTH CAROLINA, AT WHICH ANY <br />PERSON MAY BE HEARD CONCERNING THE PLAN OF FINANCING. ANY PERSON <br />WISHING TO COMMENT IN WRITING ON THE PLAN OF FINANCING MAY DO SO BY <br />DELIVERING SUCH COMMENTS TO THE UNDERSIGNED AT 65 CHURCH STREET SE, <br />CONCORD, NORTH CAROLINA, 28026, WITHIN 5 DAYS FROM THE DATE OF <br />PUBLICATION OF THIS NOTICE. <br />Pamela S. Dubois <br />Finance Director <br />4 <br />G - ~» <br />
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