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AG 2002 07 22 (Regular)
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AG 2002 07 22 (Regular)
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Last modified
3/2/2006 5:01:32 PM
Creation date
11/27/2017 11:43:40 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
7/22/2002
Board
Board of Commissioners
Meeting Type
Regular
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administrative building, several additional gym facilities and an expo center and improvements <br />related to the foregoing (collectively the "2002 Project"), and under said installment financing <br />contract the County would secure the repayment by the County of the moneys advanced pursuant <br />to such contract by granting a security interest in and lien on all or a portion of the 2002 Project; <br /> <br /> WHEREAS, as part of said plan of financing, the Corporation will issue Certificates of <br />Participation in an aggregate principal amount not exceeding $30,000,000 to finance the <br />advancement of moneys to the County pursuant to the installment financing contract between the <br />County and the Corporation; <br /> <br /> WHEREAS, there have been submitted to this meeting draft forms of the following <br />documents (the "Financing Documents") with respect to the financing for the 2002 Project: <br /> <br /> (1) an Installment Financing Contract, proposed to be dated as of August 15, 2002 <br />(the "Contract"), between the County and the Corporation as counterparty, pursuant to which the <br />Corporation will advance moneys to the County for the Costs of the 2002 Project and the County <br />agrees to make periodic installment payments (the "Installment Payments") to repay the moneys <br />so advanced, with interest; <br /> <br /> (2) a Deed of Trust and Security Agreement (the "Deed of. Trust"), proposed to be <br />dated as of August 15, 2002, among the County as Grantor, the Corporation as Beneficiary and <br />the trustee named therein, by which the County would secure its obligations to the Corporation <br />under the Contract; <br /> <br /> (3) an Indenture of Trust, proposed to be dated as of August 15, 2002 (the "Trust <br />Indenture"), between the Corporation and the trustee named therein, as trustee (the "Trustee"), <br />pursuant to which there are to be executed and delivered from time to time Certificates of <br />Participation, including the. Certificates of Participation (County of Cabarrus, North Carolina <br /> <br />2 <br /> <br /> <br />
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