RES-2000-022 Resolution Authorizing the Installment Purchase of Land from Duke University and Acceptance of Grant

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The Board of Commissioners for the County of Orange, North Carolina, met in the F. Gordon Battle Courtroom of the new Orange County Courthouse, 106 E. Margaret Lane, - Hillsborough, North Carolina at 7 :30 P.M. on March 21, 2000 . Present :— rRAIR MORE!2 r-;j=tnu 7- pa Commissioners Brown, Gordon, Halkiotis--an-&'Jacobs ---- Absent : The Chair of the Board of Commissioners announced that this was the hour, day and place fixed for the public hearing for the purpose of considering whether the Board of Commissioners should approve a proposed Installment Purchase Promissory Note and Installment Purchase Deed of Trust (hereafter collectively "the financing agreements") under which the County , would obtain financing for the purchase of 62. 65 acres of land (hereafter "the Property") located in central Orange County, adjacent to US 70 West and to property on which is located Corporation Lake, a public water supply impoundment owned by Orange Alamance Water System, Inc. , for the purposes of conserving so much of the property purchased as is deemed appropriate by the County to buffer the Eno River, McGowan Creek and an unnamed tributary of the Eno River and using the balance of the property for other governmental purposes, as described in the notice of such public hearing which was published in The Chapel Hill Herald on March 11, 2000 and The News of Orange County on March 15, 2000, and under which the County would secure the repayment by it of moneys borrowed by granting a security interest in the property purchased. The Property and the use of the Property were then described by the Director of the Orange County Environment and Resource Conservation Department. The County Attorney presented and described the financing agreements between Orange County and Duke University which agreements describe the provisions of the proposed installment purchase . The Chair of the Board of Commissioners then announced that the Board of Commissioners would immediately hear anyone who might wish to be heard on this matter. No one appeared, either in person or by attorney, to be heard on such matter.