HomeMy WebLinkAboutC.054.93011_1760(" Northview/Ebenezer Elementary School') to replace two existing elementary schools, (v) the expansion
of Shepherd Elementary School, including the construction and equipping of additional classrooms and
resource rooms, (vi) the expansion of South Iredell High School, including the construction of additional
classrooms, a new gymnasium and locker rooms and a media center, (vii) the expansion of Statesville
High School, including the construction and equipping of additional classrooms and resource rooms, a
new administration area and a media center, the renovation of existing classrooms, and related site work,
(viii) the construction and equipping of a new 750 -student elementary school ("Coddle Creek/Rocky
River Elementary School'), and (ix) the conversion of the existing Mooresville Intermediate School to a
new middle school, including the construction of additional classroom space, the renovation of existing
space and the construction of new athletic facilities, including a baseball field, tennis courts, a football
stadium and related bathroom facilities (collectively, the "Project') pursuant to an Installment Financing
Agreement, to be dated as of March 1, 2008 or such other date as the parties thereto shall mutually agree
upon (the 'Installment Financing Agreement'), between Iredell County Public Facilities Corporation, a
North Carolina non-profit corporation (the "Corporation') and the County; and
WHEREAS, pursuant to the Installment Financing Agreement, the Corporation will finance the
Project, and the County will make Installment Payments (as defined in the Installment Financing
Agreement) in amounts sufficient to pay the principal and interest with respect to Certificates of
Participation (Iredell County School Projects), Series 2008 (the "2008 Certificates'), to be executed and
delivered by the Corporation for the purpose of financing the Project, it being the express intention of the
Board of Commissioners that only the principal amount of 2008 Certificates necessary to accomplish the
purposes stated in the Installment Financing Agreement will be executed and delivered (estimated not to
exceed $115,000,000 principal amount); and the County's obligations under the Installment Financing
Agreement will be secured by, among other things, a deed of trust on all or part of certain real property
to be owned by the County, consisting of the sites of Celeste Henkel Elementary School, Coddle Creek
Elementary School, East Iredell Elementary School, Shepherd Elementary School, South Iredell High
School, Northview/Ebenezer Replacement Elementary School, Coddle CreeklRocky River Elementary
School, and Mooresville Middle School, including all buildings, improvements and fixtures now or
hereafter located thereon; and
WHEREAS the Installment Financing Agreement, if entered into, will comply in all respects with
Section 160A-20 and Chapter 159, Article 8, of the General Statutes of North Carolina and the guidelines
of the Local Government Commission of North Carolina for all financings undertaken pursuant to said
Section and Article; and
WHEREAS, said Section 160A-10 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 IT RESOLVED by the Board of Commissioners for the County of Iredell:
Section 1. A public hearing with respect to the Installment Financing Agreement is hereby
directed to be held on Tuesday, December 18, 2007, at 7:00 P.M., in the Commissioners' Meeting Room
at the Iredell County Government Center, 200 South Center Street, Statesville, North Carolina.
.Section 1. 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 160A -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 PURSUANT TO AN INSTALLMENT FINANCING AGREEMENT
NOTICE IS HEREBY GIVEN to all interested persons that the Board of Commissioners for the
County of Iredell, North Carolina (the "County') is considering the financing of (i) the expansion of
Celeste Henkel Elementary School, including the replacement of existing classrooms and the construction
and equipping of additional classrooms, a new administration area and a media center, (ii) the
construction and equipping of the new 950 -student Coddle Creek Elementary School, including the
acquisition of land therefor, (iii) the expansion of East Iredell Elementary School, including the
construction and equipping of additional classrooms and resource rooms, a media center and
administration area and the reconfiguration of existing classrooms, (iv) the construction and equipping of
a new elementary school to replace two existing elementary schools, (v) the expansion of Shepherd
Elementary School, including the construction and equipping of additional classrooms and resource
rooms, (vi) the expansion of South Iredell High School, including the construction of additional
classrooms, a new gymnasium and locker rooms and a media center, (vii) the expansion of Statesville
High School, including the construction and equipping of additional classrooms and resource rooms, a
new administration area and a media center, the renovation of existing classrooms, and related site work,
(viii) the construction and equipping of the new 750 -student Coddle CreeklRocky River Elementary
School and (ix) the conversion of the existing Mooresville Intermediate School to a new middle school,
including the construction of additional classroom space, the renovation of existing space and the
construction of new athletic facilities, including a baseball field, tennis courts, a football stadium and
related bathroom facilities (collectively, the "Project'), pursuant to an Installment Financing Agreement,
to be dated as of March 1, 2008 or such other date as the parties thereto shall mutually agree upon (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
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