AG 2006 04 17 - Laserfiche WebLink

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EXTRACT FROM MINUTES OF BOARD OF COMMISSIONERS OF THE COUNTY OF CABARRUS, NORTH CAROLINA The Board of Co.mmissio.ners for the County of Cabarrus, North Carolina, met in regular sessio.n in the Commissio.ners' Meeting Ro.o.m in the Cabarrus Co.unty Governmental Center in Co.ncord, No.rth Carolina, the regular place o.f meeting, at 6:30 p.m., o.n April 17, 2006, with , Chairman, presiding. The fo.llo.wing Co.mmissio.ners were: PRESENT: ABSENT: ALSO PRESENT: * * * * * * * * * * RESOLUTION RELATING TO LONG-TERM INSTALLMENT CONTRACT FINANCING FOR LAW ENFORCEMENT FACILITY PROJECTS IN AN AGGREGATE PRINCIPAL AMOUNT UP TO $90,000,000; INTERlM INSTALLMENT CONTRACT FINANCING FOR SUCH PROJECTS IN AN AGGREGATE PRINCIPAL AMOUNT UP TO $25,000,000; THE EXECUTION AND DELIVERY BY THE CABARRUS COUNTY DEVELOPMENT CORPORATION OF CERTIFICATES OF PARTICIPATION RELATED TO THE LONG-TERM INSTALLMENT CONTRACT FINANCING AND CALLING REQUIRED PUBLIC HEARING WHEREAS, the Bo.ard o.f Co.mmissio.ners desires to. undertake a propo.sed plan o.f financing in an aggregate principal amo.unt o.fup to. $90,000,000, which plan would invo.lve the entry by the Co.unty into. a lo.ng-term installment financing co.ntract with the Cabarrus Co.unty / Develo.pment Co.rpo.ratio.n (the "Co.rporatio.n") pursuant to. No.rth Caro.lina General Statutes 160A-20, as amended, the proceeds o.fwhich would be used to pay all or a portio.n of the costs of acquiring real pro.perty, constructing, reno.vating and equipping law enforcement facilities, vario.us real and personal property improvements related to the foregoing and a po.rtio.n of the interest to accrue under the installment financing contract during the construction perio.d (collectively the "Project"), and under said lo.ng-term installment financing contract the County G--1