AG 2007 10 15 - Laserfiche WebLink

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NOTICE OF PUBLIC HEARING NOTICE IS HEREBY GIVEN that the Board of County Commissioners (the "Board") of the County of Cabarrus, North Carolina (the "County"), will conduct a public hearing on November 19, 2007 concerning the execution and delivery of one or more installment financing contracts with a third party (the "Contracts") to finance all or a portion of the costs of (i) acquiring real property, (it) constructing, renovating and equipping law enforcement facilities, including, without limitation, a long-term housing unit, (iii) constructing and equipping new public school facilities, including, without limitation, a new high school and (iv) various real and personal property improvements related to the foregoing (collectively the "Projects"). The plan of financing for the Projects involves the entry by the County into the Contracts with a third party who will provide the County with up to $145,000,000 pursuant to the terms of the Contracts, which amourt will be applied to provide financing for the Projects. The County's obligations to such third party supplying financing are authorized by North Carolina General Statutes Section 160A-20 and will be secured by a lien upon or security interest in all or some portion of the Projects and in all or some portion of the real property on which the Projects will be located. The obligations of the County under the Contracts will not be deemed to be a pledge of the faith and credit of the bounty within the meaning of any constitutional debt limitation and the Contracts will not directly or indirectly or contingently obligate the County to make any payments beyond those appropriated in the sole discretion of the County for any fiscal year in which the Contracts are in effect. No deficiency judgment may be rendered against the County in any action for breach of the Contracts and the taxing power of the County is not and may not be pledged directly or indirectly or contingently to secure any moneys due under the Contracts. PLEASE TAKE NOTICE THAT THE BOARD WILL HOLD A PUBLIC HEARING CONCERNING THE PL?N OF FINANCING AT 6:30 P.M. ON MONDAY, NOVEMBER 19, 2007, IN THE COMMISSIONERS' MEETING ROOM IN THE CABARRUS COUNTY GOVERNMENTAL CEhITER, CONCORD, NORTH CAROLINA, AT WHICH ANY PERSON MAY BE HEA~2D CONCERNING THE PLAN OF FINANCING. ANY PERSON WISHING TO COMMENT IN WRITING ON THE PLAN OF FINANCING MAY DO SO BY DELIVERING SUCH CO~vIMENTS TO THE UNDERSIGNED AT 65 CHURCH STREET SE, CONCORD, NORTH CAROLINA, 28026, WITHIN 5 DAYS FROM THE DATE OF PUBLICATION OF THIS':NOTICE. Pamela S. Dubois Finance Director i3' _cd 5