Orange County NC Website
Orange County, North Carolina -- Notice of Public Hearing -- <br /> Financing for Carrboro High School <br /> The Board of Commissioners of Orange County, North Carolina, will hold a public <br /> hearing on Tuesday, October 3, 2006, at 7:30 p.m. (or as soon thereafter.as the matter <br /> may be heard).' The purpose of the hearing is to take public comment concerning a <br /> proposed financing contract, under which the County would borrow approximately <br /> $9,000,000 to funds for the acquisition and construction of Carrboro High School. The <br /> County may also use financing proceeds to provide required reserves and pay financing <br /> costs. <br /> The hearing will be held in the F. Gordon Battle Courtroom, Orange County <br /> Courthouse, 106 East Margaret Lane, Hillsborough, North Carolina. <br /> The proposed financing would be secured by a lien on the high school (and its <br /> associated land) and the County's promise to repay the financing, but there would be no <br /> recourse against the County or its property (other than the pledged facility and the <br /> associated land) if there were a default on the financing. As part of the financing plan, <br /> the Chapel Hill - Carrboro Board of Education will transfer the school property to the <br /> County. <br /> All interested persons will be heard. The County's plans are subject to change <br /> based on the comments received at the public hearing and the Board's subsequent <br /> discussion and consideration. The County's entering into financing is subject to <br /> obtaining approval from the North Carolina Local Government Commission. <br /> Persons wishing to make written comments in advance of the hearing or wishing <br /> more information concerning the subject of the hearing may contact Kenneth T. <br /> Chavious, Finance Officer, Orange County., Post Office Box 8181, Hillsborough, NC <br /> 27278 (telephone 919/245-2453).. <br />