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HARLAN E. BOYLES <br /> TRWASURER <br /> <br /> e artment tate rea urer <br /> <br />State and Local Government Finance Division <br />and the Local Government Commission <br /> <br />September 13, 1993 <br /> <br />ROBERT M. HIGH <br />DEPUTYTREASURER <br /> <br />Mr. Blair Bennett <br />Finance Director <br />Cabarrus County <br />Post Office Box 707 <br />Concord, North Carolina <br /> <br />28026-0707 <br /> <br />Re: Cabarrus County - $40,000,000 General Obligation Refunding Bonds <br /> <br />Dear Mr. Bennett: <br /> <br /> The application requesting approval of issuance of the proposed bonds <br />of Cabarrus County was formally approved by the Executive Committee of the <br />Local Government Commission on September 7, 1993. The Commission also <br />approved the selection of Wachovia Bank of North Carolina, N.A. as <br />financial advisor for the proposed refunding bond issue. Actual sales are <br />subject to the following findings by the Secretary of the Local Government <br />Commission or his designated assistant, after the review and approval of <br />all documents related to the financing by the staff of the Commission: <br /> <br />1) <br /> <br />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 /> <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 /> <br />3) <br /> <br />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 />Gundars Aperans, Esquire <br />Brown & Wood <br /> <br />325 North Salisbury Street, Raleigh, North Carolina 27603-1388 (919) 733-3064 (FAX 733-9586) <br /> Am Equal Opportunity / Affirmative Action E~pl~yer <br /> <br /> <br />