AG 2018 03 19 - Laserfiche WebLink

Home Browse Search

EXTRACT FROM MINUTES OF BOARD OF COMMISSIONERS OF THE COUNTY OF CABARRUS, NORTH CAROLINA The Board of Commissioners for the County of Cabarets, North Carolina, met in regular session in the Commissioners' Meeting Room in the Cabarets County Governmental Center in Concord, North Carolina, the regular place of meeting, at 6:30 p.m., on March 19, 2018, with Stephen M. Morris, Chairman, presiding. The following Commissioners were: PRESENT: Chairman Stephen M. Morris, Vice Chairman Diane R- Honeycutt and Commissioners Blake Kiger, Elizabeth F. Poole and Lynn W. Shue. ABSENT: None. ALSO PRESENT: Michael K. Downs, County Manager; Pamela S. Dubois, Senior Deputy County Manager; Susan B. Fearrington, Finance Director; Richard M. Koch, Esq., County Attorney; and Terri Lea Hugie, Clerk to the Board. 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 $55,000,000, which plan would involve the entry by the County into (i) one or more long-term installment financing contract(s) with the Cabarrus County Development Corporation (the `Corporation') or one or more other third parties 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 (a) acquiring, constructing and equipping new public school facilities and expanding, rehabilitating, renovating and equipping existing public school facilities, including but not limited to, one new elementary school and numerous mobile units, (b) constructing and equipping new community college facilities and expanding, rehabilitating, renovating and equipping existing community college facilities for Rowan -Cabanas Community College ("RCCC'), including but not limited to, the Advanced Technology Center, (c) the acquisition of numerous parcels of real property for either the County or RCCC, including all improvements located thereon, if any, (d) the acquisition of any necessary rights-of-way and easements related to each of the foregoing and (e) various real and personal property improvements related to each of the foregoing (collectively, the `Projects'), and under said one or more long-term installment financing contract(s) the County would secure the repayment by the County of the moneys advanced pursuant to such one or more long-term installment financing contract(s) by granting a security interest in and lien on all or some portion of the Projects or all or some portion of the real property upon which the Projects are located and/or (ii) into one or more short-term installment financing contract(s) with one or more third Alizchmenl number 1 \n G-2 Page 186