Laserfiche WebLink
July 23, 2007 (Regular Meeting) Page 504 <br />public realized the size and scope of the buildings; and was in favor of <br />reaching a middle ground. <br />Commissioner White spoke at length on making difficult decisions, <br />difference in opinions and beliefs. He was in favor of one or two <br />Commissioners speaking with the opposition to develop a definitive resolution <br />to the issue for all parties involved by the next work session. <br />Vice Chairman Juba expressed support for Commissioner White's proposal. <br />She suggested the opposition find suitable land for another facility and pay <br />for redesign costs. In the meantime, she suggested the construction project <br />should continue to move forward. <br />Chairman Carruth stated he wanted a proposal submitted to the Board by <br />August 6, 2007; he wanted to fully understand the cost ramifications <br />associated with a redesign; he wanted to issue a contract for the housing <br />unit in December; he wanted the Plaintiffs to withdraw their lawsuit; he <br />wanted the Residents of Historic Concord and Citizens for a Better Concord to <br />publicly endorse the compromised solution and for the City of Concord to <br />permanently change its zoning ordinance or grant a variance so the County <br />does not have to go through a Conditional Use zoning process again. <br />There was further discussion. <br />By consensus, the Board authorized Commissioner Mynatt and Commissioner <br />White to meet with the lead representative for the Plaintiffs to formulate a <br />definitive compromise to the litigation and report back to the Board on <br />August 6, 2007 at the Work Session meeting. <br />(G-5~ Installment Financing Bank Bida for High School Facilities <br />Pam Dubois, Deputy County Manager, reviewed the following bid <br />tabulation information and proposed changes to the Installment Financing <br />Resolution. <br />Bid Tabulation for New Hi h School <br />July 16, 2007, 11 am <br /> <br />Financing <br />Institution <br /> <br />Variable <br /> <br />Fees Interest <br />Expense <br />over life <br />of loan <br />Prepayment <br />Penalty <br /> <br />BB & T Market Indication as of 7/16/07: 9.259 Prepay any <br /> <br />Index: HMA + 0.678 $9,700 $639,074 payment date <br />without penalt , <br /> <br />Hank of Market Indication ae of 7/16/07:6.139 <br />$5 <br />500 <br />591 <br />660 Prepay any time <br />America <br />Index: 60.5159 of 30-day LIBOR + 0.919 , $ <br />, without enalt <br />P Y~ <br /> <br /> <br /> <br />RBC Market Indication as of 7/16/07: <br />9.18338 <br /> <br />$5,000 <br />No <br />Schedule <br />Prepay any time <br /> Index: 72.58 of 30-day LIBOR Provided without penalty. <br /> <br />First Market Indication as of 7/16/07: 9.328 <br />6 <br />500 <br />61 <br />1 <br />Prepay any time <br />Charter Index: 30-day LIBOR - 1.008 , <br />$ $ <br />9, <br />68 without penalty. <br /> <br />Sun Trust <br />t <br />d Market Indication as of 7/16/07: 9.108 Prepay any <br />(s <br />ructure <br />as lease) <br />Index: 658 of 6-month LIBOR + 0.92$ $2,000 $575,623 payment date <br />without enalt , <br /> <br /> <br />Market Indication as of 7/16/07: 9.628 $6,000 <br />legal if <br />bank <br />re axes <br /> <br /> <br />o <br /> <br />Regions <br /> <br /> <br />ndex; 60.58 of 30-day LIBOR + 1.908 <br />$2,000 <br />legal if <br />County's <br />counsel <br />re axes <br />Schedule <br />Provided prepay any time <br /> <br />without penalty. <br /> <br />First Market Indication as of 7/16/07: <br />Citizens Index: No Bid <br /> <br />Cabarrus <br />B <br />k b Market Indication as of 7/16/07: <br />an <br />Trust Index: No Bid <br />