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~eparhueut ~taie ~reasurer <br /> <br /> State mul Local Government Fiaance Division <br /> <br /> March 9, t988 <br /> <br />Mr. Blair Bennett <br />Finance Director <br />Cabarrus County <br />P. O. Box 707 <br />77 Sooth Union Street <br />Concord, North Carolina 28025-0707 <br /> <br />Re: County of Cabarrus - $25,000,000 School Bonds <br /> <br />Dear Mr. Bennett: <br /> <br /> Congratulations on your successful bond referendum. Canvassing and <br />publishing results of the referendum will complete the process necessary <br />to perfect the authorization. However, the referendum proceedings are <br />subject to challenge until lapse of 30 days after the results are published. <br />You may contact bond counsel for specific advice as to when the proceedings <br />have been validated. <br /> <br /> Mr. Everett Chalk, Assistant Director, Bond Sales and Deliveries, will <br />work with you and other officials in providing necessary bond proceeds <br />in accordance with the bond authorization and according to the time schedule <br />yet to be adopted. You should feel free to contact Mr. Chalk as you conclude <br />your plans for expending the monies. <br /> <br /> It normally takes 90 to 120 days to prepare for a bond sale and obtain <br />proceeds, therefore, you should advise us prior to entering binding <br />commitments against the authorization so that we may coordinate your sale <br />with other municipalities and counties throughout the State. <br /> <br /> We look forward to working with you in the future and please let us <br />know if our assistance is needed. <br /> <br /> Sincerely, <br /> <br /> 'John D. Foust <br /> <br />JDF/ns <br /> <br /> <br />