AG 2007 11 19 - Laserfiche WebLink

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EXTRACT FROM MLNUTES OF BOARD OF COMMISSIONERS OF THE COUNTY OF CABARRUS, NORTH CAROLINA The Board of Commissioners for the County of Cabarrus, North Carolina, met in regular session in the Commissioners' Meeting Room in the Cabarrus County Governmental Center in Concord, North Carolina, the regular place of meeting, at 6:30 p.m., on November 19, 2007, with Chairman, presiding. The following Commissioners were: PRESENT: ABSENT ALSO PRESENT: The Chairman announced that this was the date, place and hour fixed by the Board of Commissioners for a public hearing concerning a proposed plan of financing in an aggregate principal amount of up to $145,000,000, which plan would involve the entry by the County into one or more installment financing contracts with the Cabarrus County Development Corporation (the "Corporation") pursuant to North Carolina General Statutes 160A-20, as amended, the proceeds of which would be used to pay all or a portion of the costs of (i) acquiring real property, (ii) constructing, renovating and equipping law enforcement facilities, including, without limitation, along-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"), and under said one or more installment financing contracts the County would secure the repayment by the County of the moneys advanced pursuant to such one or more installment financing contracts by granting a security interest in and lien on all or a portion of the Projects, which Projects were described in the notice of public hearing published in The Independent Tribune on November 6, 2007 (the "Notice") The Board of Commissioners first ratified and approved the designation of the meeting as a public hearing on the proposed plan of financing, the call of the public hearing and publication of the Notice. G-a