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HARLAN E. BOYLES <br />TREASURER <br /> <br />State and Local Government Finance Division <br /> and the Local Government Commission <br /> <br />April 11, 1994 <br /> <br />ROBERT M. HIGH <br />DEPUTYTREASURER <br /> <br />Mr. Blair Bennett <br />Finance Director <br />Cabarrus County <br />Governmental Center <br />65 Church Street, South East <br />Box 707 <br />Concord, North Carolina 28025 <br /> <br />Re: Cabarrus County - $81,000,000 School Bonds <br /> <br />Dear Mr. Bennett: <br /> <br /> The application requesting approval of issuance of the proposed bonds <br />of the above-referenced unit was formally approved by the Executive <br />Committee of the Local Government Commission on April 5, 1994. Actual <br />sales are subject to the following findings by the Secretary of the Local <br />Government Commission or his designated assistant, after the review and <br />approval of all documents related to the financing by the staff of the <br />Commission: <br /> <br />1) the debt is being sold on terms and conditions which result in the <br /> lowest cost to the unit of government, provided however, he shall <br /> not approve the sale if any condition exceeds the parameters <br /> previously approved by the Commission; and <br />2) the sale does not adversely affect any scheduled sale by any State <br /> Agency, the State, or any political subdivision thereof; and <br />3) the unit of government has maintained good debt and fiscal <br /> management procedures and policies and has maintained its tax <br /> collection rate. <br /> <br />We are pleased to have had this opportunity to serve you. <br /> <br />Sincerely, <br /> <br />Robert M. High <br /> <br />RMH/asb <br /> <br />cc: F. L. Hartsell, Jr., Esquire <br /> County Attorney <br /> <br />Athena A. Frangoulis, Law Clerk <br />Smith Helms Mulliss & Moore <br /> <br />325 North Salisbury Street, Raleigh, North Carolina 27603-1388 (919) 733-306~ (FAX 733-9586) <br /> An Equal Opportunity / Affir~native Actio~ Employer <br /> <br /> <br />