AG 1999 06 21 - Laserfiche WebLink

Home Browse Search

207 amount to be paid under this Agreement shall be decided by the County, subject to the right of LLC to appeal to the Board of County Commissioners whose decision shall be final. 9.7 Paragraph Headings, Severability, Governing Law, Jurisdiction - Paragraph headings are for convenience only and shall not be deemed a controllin~ part of this Agreement. In the event any term or condition hereunder shall be deemed unenforceable or unlawful, the remaining terms and conditions shall continue in full force and effect. The parties hereto agree that the terms and conditions of the Agreement shall be governed by and construed in accordance with the laws of the State of North Carolina. IN WITNESS WHEREOF, the parties hereto have caused this Agreement to be duly executed, in duplicate, this County of Cabarrus, North Carolina By: Jeffrey L. Barnhart, Chairman ATTEST: Board of Commissioners Franchise day of Frankie F. Bonds, Clerk to the Board HIGHWAY 49 C & D LANDFILL, LLC By: President Mr. Parks Helms, Attorney for Griffin Brothers Companies, expressed appreciation for the Board's decision and stated in his opinion the approval to allow the Griffin operation to come to Cabarrus County was a good decision for the County. Resolution Relative to the Inst$11ment ContraCt Finan¢iDg ~r the Westside High School Protect in an Amount un to $30 Million and the Issuance by the Cahsrrus County Development Corporation of Installment Psyment Revenue Bonds Mr. Blair Bennett, Deputy County Manager for Administration, briefly reviewed the proposed Resolution related to the financing for the new high school in an amount of up to $30 million. There was brief discussion regardin~ the cost of school construction in Cabarrus County and the requested financing in an amount up to $30 million for the new high school. Resolution No. 1999-10 RESOLUTION APPROVING INSTALLMENT CONTR-~CT FIN;~NCING FOR WESTSIDE HIGH SCHOOL PROJECT IN AN AGGREGATE PRINCIPAL ANOUNT UP TO $30,000,000 AND THE ISSUANCE BY THE C;~BARRUS COUNTY DEVELOPMENT CORPORATION OF INSTALLMENT PAYMENT REVENUE BONDS RELATED THERETO, AUTHORIZING THE EXECUTION AND DELIVERY OF RELATED DOCUMENTS IN CONNECTION THEREWITH AND MAKING CERTAIN FINDINGS WHEREAS, the Board of Commissioners desires to approve a proposed plan of financing in an aggregate principal amount of up to $30,000,000, which plan would involve the entry by the County into an installment financing contract with the Cabarrus County Development Corporation (the "Corporation") pursuant to North Carolina General Statutes 160A-20, as amended, the proceeds of which would be used to pay all or a portion of the costs of acquiring certain real property, constructing thereon a new public high school to be known as Westside High School and acquiring certain equipment related thereto (collectively the "Project"), and under said installment financing contract the County would secure the repa~nent by the County of the moneys advanced pursuant to such contract by granting a security interest in and lien on ail or a portion of the Project; WHEREAS, as part of said plan of financing, the Corporation will issue Installment Payment Revenue Bonds in an aggregate principal amount not exceeding $30,000,000 to finance the advancement of moneys to the County pursuant to the installment financing contract between the County and the Corporation; WHEREAS, there have been submitted to this meeting draft forms of the followlng documents (the "Fil)ancii~g Documents") with respect to the flt)ancirlg (1} an Installment Financing Contract, proposed to be dated as of June 1, 1999 (the "Contract"}, between the County and the Corporation as counterparty, pursuant to which the Corporation will advance moneys to the County for tile coatu of th~ l'toject and the Coul]ty agrees to make periodic