HomeMy WebLinkAboutC.054.93010_1217WHEREAS, said Section 160A-20 requires that, before entering into an installment financing
agreement involving real property. the County shall hold a public hearing on such agreement: now,
therefore,
BE 1'1" RESOLVED by the Board of Commissioners fa the County of Iredell:
Section 1. A public hearing with respect to the Installment Financing Agreement is hereby
directed to be held on'Tuesday, September 16, 2003, at 7:00 P.M., in the Commissioners' Meeting Room
at the Iredell County Government Center, 200 South Center Street, Statesville, North Carolina.
Section 2. The Clerk to the Board of Commissioners is hereby directed to publish notice of
said public hearing, in substantially the following form, once at least ten (10) days prior to the date of the
public hearing as required by Section 160.A -20(g) of the General Statutes of North Carolina:
NOTICE OF PUBLIC HEARING BY
THE BOARD OF COMMISSIONERS FOR THE COUNTY OF IREDELL.,
NORTH CAROLINA, CONCERNING THE FINANCING OF CERTAIN SCHOOL
FACILITIES AND FACILITIES FOR MITCHELL COMMUNITY COLLEGE AND1111;
REFINANCING OF SAID COUNTY'S PAYMENT OBLIGATIONS UNDER A
PRIOR FINANCING AGREEMENT
PURSUANT TO AN INSTALLMENT FINANCING AGRF.F.MENT
NOTICE IS HEREBY GIVEN to all interested persons that the Board of Commissioners
for the County of Iredell, North Carolina (the "County") is considering (a) the financing of (i) the
construction of an addition to Scotts Elementary School and related renovation of the existing
facilities, (ii) the construction of an addition to Harmony Elementary School and related
renovation of the existing facilities, (iii) the construction of the new Southern Zone Elementary
School, (iv) the construction of the new Mooresville Intermediate School and (v) the
construction of an addition to Mitchell Community College to facilitate a work force
development facility (collectively, the "Project") and (b) the refinancing of the County's
payment obligations under an existing installment financing contract, dated October 10, 2002,
between the County and Bank of America, N.A. (the "Prior Financing Agreement"), pursuant to
an Installment Financing Agreement, to be dated as of December 1, 2003 (the "Installment
Financing Agreement"), between Iredell County Public Facilities Corporation, a North Carolina
non-profit corporation (the "Corporation") and the County. It is expected that the Corporation
will execute and deliver Certificates of Participation, evidencing proportionate and undivided
interests in the Installment Payments to be made by the County under the Installment Financing
Agreement, in an aggregate principal amount not exceeding $47,000,000 for the purpose of
financing the Project and refinancing the payment obligations described above.
NOTICE IS HEREBY FURTHER GIVEN that the Board of Commissioners will hold a
public hearing in the Commissioners' Meeting Room at the Iredell County Government Center,
200 South Center Street, Statesville, North Carolina, on September 16, 2003, at 7:00 P.M., or an
adjournment thereof, at which time any person may be heard regarding the proposed Installment
Financing Agreement.
COUNTY OF IREDELL, NORTH CAROLINA
By: Jean C. Moore
Clerk to the Board of Commissioners
Section 3. This resolution shall take effect immediately upon its passage.
Upon otio of Commissioner Sara Haire Tice seconde by Commissioner R. Godfrey
Williams, the foregoing resolution entitled: "RESOLUTION CALLING A PUBLIC HEARING
CONCERNING THE FINANCING OF CERTAIN SCHOOL FACILITIES AND FACILITIES
FOR MITCHELL. COMMUNITY COLLEGE AND THE REFINANCING OF THE COUNTY
OF IREDELL'S PAYMENT OBLIGATIONS UNDER A PRIOR FINANCING AGREEMENT
PURSUANT TO AN INSTALLMENT FINANCING AGREEMENT" was passed by the
following vote:
Ayes: 5 (Stephen D. Johnson, R. Godfrey Williams, C. Douglas Madison,
Marvin Norman and Sara Haire Tice)
Noes: 0