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AG 2018 03 19
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AG 2018 03 19
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Last modified
5/8/2019 1:29:38 PM
Creation date
5/1/2019 2:44:23 PM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
3/19/2018
Board
Board of Commissioners
Meeting Type
Regular
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parties pursuant to North Carolina General Statutes 160A-20, as amended, the proceeds of which would <br />be used to provide interim financing for all or some portion of the Projects pending execution and <br />delivery of said one or more long-term financing contract(s) and the related Limited Obligation Bonds <br />and/or Certificates of Participation, if any, and under said one or more short-term installment financing <br />contract(s) the County would secure the repayment by the County of the moneys advanced pursuant to <br />such short-term installment financing contract(s) by graming a security interest in and lien on all or some <br />portion of the Projects or all or some portion of the real property upon which the Projects are located, <br />which plan of financing and Projects were described in the notice of public hearing published in The <br />Independent Tribune on March 4, 2018 (the "Notice). <br />The Board of Commissioners first ratified and approved the designation of the meeting as a <br />public hearing on the proposed plan of financing, the call of the public hearing and publication of the <br />Notice. <br />It was then announced that the Board of Commissioners would immediately hear anyone who <br />might wish to be heard on such matter. <br />No one appeared, either in person or by attorney, to be heard on such matter or the advisability of <br />the plan of financing and the Clerk to the Board of Commissioners announced that no written statement <br />relating to said matters had been received by the Clerk or the Finance Director. <br />It was then announced that the public hearing was closed. <br />The Chairman introduced the following resolution, a summary of which had been provided to <br />each Commissioner, a copy of which was available with the Clerk to the Board and which was read by <br />title: <br />RESOLUTION RELATING TO LONG-TERM INSTALLMENT CONTRACT <br />FINANCINGS OF VARIOUS PUBLIC PROJECTS IN AN AGGREGATE <br />PRINCIPAL AMOUNT UP TO $55,000,000; INTERIM INSTALLMENT <br />CONTRACT FINANCINGS FOR SUCH PROJECTS IN AN AGGREGATE <br />PRINCIPAL AMOUNT UP TO $55,000,000; AND THE EXECUTION AND <br />DELIVERY BY THE CABARRUS COUNTY DEVELOPMENT <br />CORPORATION OF ONE OR MORE SERIES OF LIMITED OBLIGATION <br />BONDS AND/OR CERTIFICATES OF PARTICIPATION RELATED <br />THERETO <br />w1IEREAS, the Board of Commissioners desires to undertake a proposed plan of <br />financing in an aggregate principal amount of up to $55,000,000, which plan would involve the <br />Attachment number 1 \n <br />G-2 Page 187 <br />
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