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February 16, 2015 (Regular Meeting) Page 2288
<br />financing contracts paid all or a portion of the costs of acquiring,
<br />constructing and equipping various public facilities and related improvements
<br />and costs (collectively, the "Refinanced Projects "), and under said one or
<br />more installment financing contracts (or amendments to one or more
<br />outstanding installment financing contracts) the County would secure the
<br />repayment by the County of the moneys advanced pursuant to such one or more
<br />installment financing contracts (or amendments to one or more outstanding
<br />installment financing contracts) by granting a security interest in and lien
<br />on all or some portion of the Refinanced Projects and /or in all or some
<br />portion of the real property on which the Refinanced Projects are located;
<br />WHEREAS, as part of said proposed plan of refinancing, the Corporation
<br />will execute and deliver one or more series of Limited Obligation Bonds
<br />and /or Certificates of Participation in said one or more installment
<br />financing contracts (or amendments to one or more outstanding installment
<br />financing contracts) in an aggregate principal amount not exceeding
<br />$211,615,000 to finance the advancement of moneys to the County pursuant to
<br />said one or more installment financing contracts (or amendments to one or
<br />more outstanding installment financing contracts) between the County and the
<br />Corporation or one or more third parties;
<br />WHEREAS, there have been submitted to this meeting draft forms of the
<br />following documents (the "Financing Documents ") with respect to the
<br />refinancing of said one or more prior installment financing contracts and the
<br />Refinanced Projects:
<br />(1) Amendment Number One, proposed to be dated as of March 1, 2015
<br />(the "2007 First Contract Amendment "), to the Installment Financing Contract
<br />dated as of February 1, 2007 (the "Original 2007 Contract" and, as amended by
<br />the 2007 First Contract Amendment, the "2007 Contract "), each between the
<br />County and the Corporation as counterparty, pursuant to which the Corporation
<br />will advance moneys to the County to refinance all or a portion of the 2007
<br />Contract and the portion of the Refinanced Projects financed thereby and the
<br />County agrees to make periodic installment payments (the "2007 Installment
<br />Payments ") to repay the moneys so advanced, with interest;
<br />(2) Supplemental Indenture, Number 1, proposed to be dated as of
<br />March 1, 2015 (the "2007 First Supplement ") , to the Indenture of Trust dated
<br />as of February 1, 2007 (the "Original 2007 Trust Indenture" and, as amended
<br />by the 2007 First Supplement, the "2007 Trust Indenture ") , each between the
<br />Corporation and the trustee named therein, as trustee (the "2007 Trustee ") ,
<br />pursuant to which there are to be executed and delivered the Corporation's
<br />Certificates of Participation and /or Limited Obligation Refunding Bonds
<br />(County of Cabarrus, North Carolina), Series 2015A (the "2015A Limited
<br />Obligation Refunding Bonds and /or Certificates "), the proceeds of which will
<br />be used to refinance all or a portion of the Corporation's Certificates of
<br />Participation (County of Cabarrus, North Carolina Installment Financing
<br />Contract), Series 2007 (the "2007 Certificates ");
<br />(3) Amendment Number One, proposed to be dated as of March 1, 2015
<br />(the "2008A First Contract Amendment "), to the Installment Financing Contract
<br />dated as of January 1, 2008 (the "Original 2008A Contract" and, as amended by
<br />the 2008A First Contract Amendment, the "2008A Contract "), each between the
<br />County and the Corporation as counterparty, pursuant to which the Corporation
<br />will advance moneys to the County to refinance all or a portion of the 2008A
<br />Contract and the portion of the Refinanced Projects financed thereby and the
<br />County agrees to make periodic installment payments (the "2008A Installment
<br />Payments ") to repay the moneys so advanced, with interest;
<br />(4) Supplemental Indenture, Number 1, proposed to be dated as of
<br />March 1, 2015 (the "2008A First Supplement "), to the Indenture of Trust dated
<br />as of January 1, 2008 (the "Original 2008A Trust Indenture" and, as amended
<br />by the 2008A First Supplement, the "2008A Trust Indenture "), each between the
<br />Corporation and the trustee named therein, as trustee (the "200BA Trustee "),
<br />pursuant to which there are to be executed and delivered the Corporation's
<br />Certificates of Participation and /or Limited Obligation Refunding Bonds
<br />(County of Cabarrus, North Carolina), Series 2015B (the "2015B Limited
<br />Obligation Refunding Bonds and /or Certificates "), the proceeds of which will
<br />be used to refinance all or a portion of the Corporation's Certificates of
<br />Participation (County of Cabarrus, North Carolina Installment Financing
<br />Contract), Series 2008A (the "2008A Certificates");
<br />(5) Amendment Number One, proposed to be dated as of March 1, 2015
<br />(the "2008C First Contract Amendment "), to the Installment Financing Contract
<br />dated as of December 1, 2008 (the "Original 2008C Contract" and, as amended
<br />by the 2008C First Contract Amendment, the "20080 Contract "), each between
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