AG 2006 05 15 - Laserfiche WebLink

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NOTICE OF PUBLIC HEARING NOTICE IS HEREBY GIVEN that the Board of County Cormnissioners (the "Board") of the County of Cabarrus, North Carolina (the "County"), will conduct a public hearing on June 19, 2006 concerning the execution and delivery of (i) one or more short-term installment financing contract(s) with one or more third parties and (ii) a long-term installment financing contract with a third party (collectively, the "Contracts") to finance all or a portion of the costs of acquiring real property, constructing, renovating and equipping law enforcement facilities, various real and personal property improvements related to the foregoing and a portion of the interest to accrue under the Contracts during the construction period (collectively the "Project"). The plan of financing for the Project involves (i) the entry by the County into one or more short-term installment financing contract(s) with one or more third parties who will provide the County with up to $25,000,000 pursuant to the terms of the short-term installment financing contract(s), which amounts will be used to provide interim financing for the Project pending execution and delivery of the long-term financing contract and (ii) the entry by the County into a long-term installment financing contract with a third party who will provide the County with up to $90,000,000 pursuant to the terms of the long-term installment financing contract, which amount will be applied to provide long-term financing for the Project. The County's obligations to any third party supplying short-term or long-term 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 Project and in the real property on which the Project 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 County 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 PLAN OF FINANCING AT 6:30 P.M. ON MONDAY, JUNE 19,2006, 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. Dubois Finance Director 5 E-I