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To: <br /> <br />From: <br /> <br />Date: <br /> <br />Subject: <br /> <br />Jeff B arnhart <br /> <br />MEMORANDUM <br /> <br /> Blair Bennett ff}~ <br /> October 11, 1995 <br /> <br /> Rocky River Elementary School Project <br /> <br />Please find below the time table and steps necessary to proceed with the financing for Rocky <br /> <br />River Elementary School Project. <br /> <br />Calendar <br /> <br />Day 1 - 30 ~- <br /> <br /> Event <br /> <br />Contact LGC staff and schedule preliminary conference to discuss the <br />following: <br /> <br />(a) discuss project necessity, estimated costs and feasibility <br />(b) discuss financing alternatives <br /> <br />(c) review unit's debt/fiscal management procedures and policies <br />(d) discuss authorization process, requirements and time frame <br /> <br />Finance Director to file "Declaration of Official Intent to Reimburse <br />Expenditures". The filing of this document provides that any advanced funds <br />made to pay certain capital costs related to the project will likewise be <br />reimbursed when financing proceeds become available. <br /> <br />Have Board of Commissioners approve "Resolution Authorizing the Filing of <br />an Application for Approval of a Financing Agreement Authorized by N. C. <br />General Statute 160A-20". This resolution makes the necessary finding of <br />facts required by the Local Government Commission <br /> <br />Day 30- 90 ~,- Request proposals from a minimum of three banks. After proposals are <br /> received, select a bank based on rate, term and fees. Discuss with LGC staff. <br /> <br /> Finance Department <br /> <br />~'} ~-: ': ' * :::.~,'c'~r', ~;C 2:30260707 · (704~ 788.81'74 <br /> <br /> <br />