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2005 NS Finance - Refinancing BB&T Installment Purchase Agreements
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2005 NS Finance - Refinancing BB&T Installment Purchase Agreements
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Last modified
6/7/2011 11:01:44 AM
Creation date
9/29/2010 3:07:42 PM
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Template:
BOCC
Date
1/24/2005
Meeting Type
Regular Meeting
Document Type
Agreement
Agenda Item
5i
Document Relationships
Agenda - 01-24-2005-5i
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\Board of County Commissioners\BOCC Agendas\2000's\2005\Agenda - 01-24-2005
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01/12/2005 10:50 9196443324 FINANCE <br />iii <br />IO~ t <br />Branch Banking 8 Trust Co. <br />January 6, 2005 <br />Mr. Ken Chavious <br />Finance Director <br />Orange County <br />PO Box 8181 <br />Hillsborough, NC 27278 <br />Dear Ken: <br />(iovemmental Finance <br />P.O. Box 31273 <br />Cha~iotte, NC 28231 <br />(70a~ g54-1700 <br />Fax (70a) 954-1799 <br />Enclosed are the amortization schedules fnr waits 001 and 002. I am enclosing the <br />original schedules and the gate changes" schedules. These schedules will show you the <br />following: <br />Unit 001 Savings of S 145,992.28 <br />Unit 002 Savings of S 264,728.94 <br />This is a total savings for these two units of 410,721.22 over the life of the loans. <br />Because we will be making the modifications as of the payment date, there will be iio out <br />of pocket cost to the Couxtty. <br />I am also enclosing the resolution to be passed by the Orange County Board of <br />Commissioners before the tmodifications can be made. We have a target date of closing <br />on or before your payment date for these 2 contracts which is February 1, 2005. <br />Because we are not adding any financing dollars to the refinancing/modifications, the fact <br />that Orange County is NBQ this calendar year does not come into play. The original <br />issues were BQ and will remain BQ as long as they are "current refwidings" amd no <br />money is added to the transactions. <br />Call me at 704-9541710 with any questions or concerns. <br />Sincerely, <br />BB&T Governmental Finance <br />(J C'• ~ <br />Veverly C. Hi <br />Vice President <br />Enclosures <br />
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