AG 2003 04 21 - Laserfiche WebLink

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NOTICE OF PUBLIC HEARING NOTICE IS HEREBY GIVEN that the Board of County Commissioners (the "Board") of the County of Cabarrus, North Carolina (the "County"), will conduct a public hearing on May 19, 2003 concerning the execution and delivery of an installment financing contract (the "Contract") to finance all or a portion of the costs of acquiring real property, constructing and equipping new public school facilities, including two new elementary schools and one new middle school, expansion of two existing elementary school facilities, various real and personal property improvements related to the foregoing and a portion of the interest to accrue under the installment financing contract during the construction period(collectively the "2003 Project"). The plan of financing for the 2003 Project involves the entry by the County into the Contract with a third party who will provide the County with up to $45,000,000 pursuant to the terms of the Contract, which amount will be applied to finance costs of the 2003 Project. The County's obligations to such third party supplying 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 2003 Project and in all or some portion of the real property on which the 2003 Project will be located. The obligation of the County under the Contract 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 Contract 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 such Contract is in effect. No deficiency judgment may be rendered against the County in any action for breach of such Contract 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 such Contract. PLEASE TAKE NOTICE THAT THE BOARD WILL HOLD A PUBLIC HEARING CONCERNING THE PLAN OF FINANCING AT 6:30 P.M. ON MONDAY, MAY 19, 2003, IN THE COMMISSIONERS' MEETING ROOM IN THE CABARRUS COUNTY GOVERNMENTAL CENTER, CONCORD, NORTH CAROLINA, AT WHICH ANY PERSON MAY BE 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. Pam S. DuBois Finance Director 5