AG 2006 11 20 - Laserfiche WebLink

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THE INDEPENDENT TRIBUNE November 10, 2006 NO'IlCEOF PU8IJC HEARING HOnCE IS HEREBY GIVEH that the Board of. County Commissioners (the . ~Board~) of. the County of Cabarrus, North. Caro- lina (the .County"), will conduct a public hearing on November. 20.- 2006 concerning the execution and delivery of (i) one or more short-term install~ ment - financing con. tract(s) with one or more third parties and (II) a long-term installment fi. nanclng contract with a third party (collectively, the "Contracts.) to fi; nance all or a portion of the costs of acquiring real property con. strutting, renovating .and equ'fP,ng Jaw - enforce- men facilities, various real and pefSOflal proper- . ty improvements related to the foregoing and a portion of tne Interest to accrue under the. Con- tracts durIng the con- struction period (colle- ctl\rely the "ProJect"). The plan of financing klr the Project. Involves (I) the entry by the County into one or more shorf. term Installment flnanc. ing contract(s) with one or more third parties who will provide the County with up to $40,000,000 fursuant. to the terms 0 the short- term installment financ' ing contract(s). whieh amounts wilt be used, to p'rovlde Interim financing for the Project pending execution and delivery of the long.term financing contract and (II) ~he entry by the County IOto a Ions-term Instaflment flnanclOg contract with a third party who wlll pro- vide the County wtth up to $101.000.000 pursuant to the terms of the long. term lnstallment_flnanc- lng contraet, which llmount will be applied to provide long-term. fi- nancing. for the Prolect. The County's obligations to...y third party SUPPly- ing short.term .or_long. term flOlIiOc:ing are ll.U- thorized by ~Orth caroli- na General StaMes_ Sec- tion 160A.20 and will be secured by a lien upon Or security Interest in all C!r some portion of the ProJ- ect and in the real prop. ertY on which the Project will be located. The obligations of the County under the Con. tracts will not be deemed to -be a pledge of the faith and credit of:the County - within the mean- ing of any constitutional debt Itmitatlon and the Contracts will not direct. Iy or Indlrectly- or contin- gently obligate the _Coun_ ty to make any payments beyond those appropri- ated in the sole discre- tion of the County for any fiscal year in which the Contracts are In ef. fect. No deficiency judgment may be ren- dered against the COl,lnty 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-contin- gently 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, NO- VEMBER 20, 2006. IN THE COMMISSIONERS' MEET- ING ROOM IN THE CABA. RRUS COUNTY GOVtRN- MENTAL CENTER. CON- CORD, NORTH CAROLI- NA, AT WHICH ANY PER- SON.'MAY BE HEARD I CONCERNING THE PLAN OF fiNANCING. ANY PERSON WISHING TO COt.lt.lE~T IN WRITI~G ON THE PLAN OF' FI- NANCING MAY DO SO BY DELIVERING SUCH COM- MENTS TO THE UNDER- SIGNEO AT 65 CHURCH STREET SEt CONCORD. NORTH CAROLINA. 28026, WITHIN 5 OAYS FROM THE DATE OF PUB- LICATION OF THIS NO- TICE. PamelaS.Dubo1s FtnanceDlrector '=- - :1..