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NOTICE OF PUBLIC HEARING <br /> <br /> NOTICE IS HEREBY GIVEN that the Board of County Commissioners (the "Board") of <br />the County of Cabarrus, North Carolina (the "County"), will conduct a public hearing on <br />February 2, 2001 concerning the execution and deli,/~ry- of an installment financing contract (the <br />"Contract") to finance all or a portion of the costs of constructing two new public middle schools <br />and one new public elementary school and acquiring certain equipment related thereto <br />(collectively the "2001 Project"). <br /> <br /> The plan of financing for the 2001 Project involves the enh-y by the County into the <br />Contract with a third party who will provide the County with up to $40,000,000 pursuant to the <br />terms of the Contract, which amount will be applied to finance costs of the 2001 Project. The <br />County's obligations to such third pan'y supplying financing are anthofized by North Carolina <br />General Statutes Section 160A-20 and will be secured by a lien upon or security interest in all or <br />some portion of the 2001 Project and in the real property on which the 2001 Project will be <br />located. <br /> <br /> The obligation of the County under the Contract will not be deemed to be a pledge of the <br />faith and credit of the County within the meaning of any constitutional debt limitation and the <br />Contract will not directly or indirectly or contingently obligate the County to make any payments <br />beyond those appropriated in the sole discretion of the County for any fiscal year in which such <br />Contract is in effect. No deficiency judgment may be rendered against the County in any action <br />for breach of such Contract and the taxing power of the County is not and may not be pledged <br />directly or indirectly or contingently to secure any moneys due under such Contract. <br /> <br /> PLEASE TAKE NOTICE THAT THE BOARD Will. HOLD A PUBLIC HEARING <br />CONCERNING THE PLAN OF FINANCING AT 7:00 P.M. ON FRIDAY, FEBRUARY 2, <br />2001, IN THEMULTIPURPOSE ROOM IN THE CABARRUS COUNTY GOVERNMENTAL <br />CENTER, CONCORD/NORTH CAROLINA, AT WI-HCH ANY PERSON MAY BE HEARD <br />CONCERNING THE PLAN OF FINANCING. ANY PERSON WISHING TO COMMENT IN <br />WRITING ON THE PLAN OF FINANCING MAY DO SO BY DELWERING SUCH <br />COMMENTS TO THE UNDERSIGNED AT 65 CHURCH STREET SE, CONCORD, NORTH <br />CAROLINA, 28026, WITHIN 5 DAYS FROM THE DATE OF PUBLICATION OF TI-nS <br />NOTICE. <br /> <br />Blair D. Bennett <br />Finance Director <br /> <br /> <br />