BC 2005 03 21 REGULAR - Laserfiche WebLink

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March 21, 2005 (Regular Meeting) Page 124 (G) NEW BUSINESS (G-l) HOME Program Public Hearing - 6:30 p.m. Kelly Sifford, Community Development Manager, reported two public hearings are required for the County to participate in the Cabarrus/Iredell/Rowan HOME Consortium to acquire housing rehabilitation funds. The first public hearing was held in February. In addition, the County is required to provide a 25 percent match that will be included in the upcoming budget process. At 8:43 p.m., Chairman Carpenter opened the public hearing on the HOME Program. The Public Hearing Notice was published in THE CHARLOTTE OBSERVER (Cabarrus Neighbors) on March 10 and 13, 2005. There was no one present to address the Board, and Chairman Carpenter closed the Public Hearing at 8:44 p.m. (G-2) Installment Financing for the Renovations to Rowan-Cabarrus Community COllege Business Center, Design and Construction of RCCC South Campus Parking Lot and Design Cost for RCCC's Building 3000 and Adoption of Related Resolutions - Public Hearing - 6:30 p.m. The Chairman announced that this was the date, place and hour fixed by the Board of Commissioners for a public hearing concerning a proposed plan of financing in an aggregate principal amount of up to $4,358,000, which plan would involve the entry by the County into an installment financing contract with RBC Centura Bank pursuant to North Carolina General Statutes Section 160A-20, as amended, with the proceeds thereof to be used to pay all or a portion of the costs of (i) renovations to the Rowan Cabarrus Community College (\\RCCC") Business Center, (ii) design and construction of a parking lot on the RCCC South Campus and (iii) design costs for RCCC's Building 3000 (collectively the "project'/), which Project was described in the notice of public hearing published in The Independent Tribune on March 9, 2005 (the "Noticell) I and under said installment financing contract the County would secure the repayment by it of moneys advanced pursuant to such contract by granting a security interest in and lien on all or a portion of the Project. The Board of Commissioners first ratified and approved the designation of the meeting as a public hearing on the proposed plan of financing, the call of the public hearing and publication of the Notice. It was then announced that the Board of Commissioners would immediately hear anyone who might wish to be heard on such matter. No one appeared, either in person or by attorney, to be heard on such matter or the advisability of the plan of financing and the Clerk to the Board of Commissioners announced that no written statement relating to said matters had been received by the Clerk or the Finance Director. It was then announced that the public hearing was closed. * * * * * * * * * * Resolution No. 2005-09 RESOLUTION APPROVING INSTALLMENT CONTRACT FINANCING FOR ROWAN CABARRUS COMMUNITY COLLEGE PROJECTS IN AN AGGREGATE PRINCIPAL AMOUNT UP TO $4,358,000 AND AUTHORIZING THE EXECUTION AND DELIVERY OF RELATED DOCUMENTS IN CONNECTION THEREWITH, AND PROVIDING FOR CERTAIN OTHER RELATED MATTERS WHEREAS, the Board of Commissioners desires to approve a proposed plan of financing in an aggregate principal amount of up to $4,358,000, which plan would involve the entry by the County into an installment financing contract with RBC Centura Bank (the "Bank") pursuant to North Carolina General Statutes 160A-20, as amended, the proceeds of which would be used to pay all or a portion of the costs of (i) renovations to the Rowan Cabarrus Community College ("RCCC") Business Center, (ii) design and construction of a parking lot on the RCCC South Campus and (iii) design costs for RCCC's Building 3000 (collectively the \\proj ect"), and under said installment financing contract the County would secure the repayment by the County of the moneys advanced pursuant to such contract by granting a security interest in and lien on all or a portion of the Project; WHEREAS, there have been submitted to this meeting draft forms of the following documents (the "Financing Documents") with respect to the financing for the Project: