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AG 1994 06 20
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AG 1994 06 20
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Last modified
3/25/2002 4:32:37 PM
Creation date
11/27/2017 11:58:46 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
6/20/1994
Board
Board of Commissioners
Meeting Type
Regular
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ICASARR S <br /> ~Ol~[H C~OLI~A <br /> <br />Date: <br /> <br />TO: <br /> <br />FROM: <br /> <br />Subject: <br /> <br />June 14, 1994 <br /> <br />Cabarrus County Board of Commissioners <br /> <br />Blair D. Bennett, Finance Director <br /> <br /> Lease Financing for Coddle Creek Reservoir and Muddy <br /> Creek WWTP <br /> <br />Cabarrus County has requested and received lease financing bids <br />from banking institutions for the funding of the Coddle Creek and <br />Muddy Creek projects. The Coddle Creek lease financing amounted to <br />$1,600,000.00 and Muddy Creek, $1,900,000.00. Attached are the <br />bids by financial institutions reflecting their particular quotes. <br /> <br />I am requesting that the Board of Commissioners take the steps <br />outlined below at the June 20, 1994 Board of Commissioners' meeting <br />so that we can proceed on schedule. <br /> <br />e <br /> <br />Hold a public hearing regarding the bank bids and terms of the <br />financing. <br /> <br />Initiate a motion to accept the low bid from First Citizens <br />with an interest rate of 4.58% for seven (7) years. <br /> <br />Approve the resolutions authorizing the filing of an <br />application for approval of a financing agreement. <br /> <br />Authorize Chairman Barnhart to execute the finalized lease <br />agreements upon closing of the loan. <br /> <br />Attachments <br /> <br /> Finance Department <br /> <br />~::?c3r3, ~-. 2:}!}26~'~'' <br /> <br /> <br />
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