AG 2006 04 17 - Laserfiche WebLink

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NOTICE OF PUBLIC HEARING NOTICE IS HEREBY GIVEN that the Bo.ard o.f Co.unty Commissio.ners (the "Board") o.f the County of Cabarrus, North Carolina (the "County"), will co.nduct a public hearing on May , 2006 concerning the executio.n and delivery o.f (i) one or more sho.rt-term installment financing co.ntract( s) with o.ne o.r more third parties and (ii) a lo.ng-term installment financing co.ntract with a third party (collectively, the "Co.ntracts") to. finance all or a po.rtio.n o.fthe Co.sts of acquiring real property, constructing, renovating and equipping law enforcement facilities, vario.us real and perso.nal property improvements related to. the fo.rego.ing and a po.rtio.n o.f the interest to. accrue under the Co.ntracts during the co.nstructio.n perio.d (co.lIectively the "Project"). The plan o.f financing fo.r the Project invo.lves (i) the entry by the Co.unty into. o.ne or more sho.rt-term installment financing co.ntract(s) with o.ne o.r mo.re third parties who. will provide the County with up to $25,000,000 pursuant to. the terms o.fthe sho.rt-term installment financing contract(s), which amo.unts will be used to. provide interim financing fo.r the Project pending executio.n and delivery of the lo.ng-terrn financing co.ntract and (ii) the entry by the County into. a lo.ng-term installment fmancing co.ntract with a third party who. will provide the County with up to. $90,000,000 pursuant to. the terms o.f the lo.ng-term installment financing co.ntract, which amo.unt will be applied to. provide Io.ng-term financing fo.r the Project. The County's o.bligatio.ns to. any third party supplying sho.rt-term o.r lo.ng-term financing are autho.rized by No.rth Caro.lina General Statutes Sectio.n 160A-20 and will be secured by a lien upo.n or security interest in all or so.me po.rtio.n o.fthe Project and in the real property on which the Project will be lo.cated. The o.bligatio.ns o.f the Co.unty under the Co.ntracts will not be deemed to. be a pledge of the faith and credit o.f the Co.unty within the meaning o.f any constitutional debt limitatio.n and the Co.ntracts will no.t directly or indirectly or co.ntingently o.bligate the Co.unty to make any payments beyo.nd tho.se appropriated in the so.le discretio.n o.f the Co.unty for any fiscal year in which the Co.ntracts are in effect. No. deficiency judgment may be rendered against the Co.unty in any actio.n fo.r breach o.fthe Contracts and the taxing po.wer o.fthe Co.unty is not and may no.t be pledged directly or indirectly or contingently to. secure any mo.neys due under the Co.ntracts. PLEASE TAKE NOTICE THAT THE BOARD WILL HOLD A PUBLIC HEARING CONCERNING THE PLAN OF FINANCING AT 6:30 P.M. ON MONDAY, MAY 15,2006, IN THE COMMISSIONERS' MEETING ROOM IN THE CABARRUS COUNTY GOVERNMENTAL CENTER, CONCORD, NORTH CAROLINA, AT WHICH ANY PERSON MAYBE HEARD CONCERNING THE PLAN OF FINANCING. ANY PERSON WISHING TO COMMENT IN WRITING ON THE PLAN OF FINANCING MAY DO SO BY DELIVERING SUCH COMMENTS 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. Dubo.is Finance Director 5 G- '1