Orange County NC Website
3 <br />Attachment 1 <br />Orange County, North Carolina -- Notice of Public Hearing <br />Installment Financing for Various County Projects <br />The Board of Commissioners of Orange County, North Carolina, will hold a <br />public hearing on Tuesday, November 5, 2013, at 7:00 p.m. (or as soon thereafter as the <br />matter 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 />$10,500,000 to finance costs of various County projects. <br />The hearing will be held in the Commissioners' meeting room in Central Orange <br />Senior Center, 103 Meadowland Dr., Hillsborough, North Carolina. <br />The projects to be financed may include the acquisition and equipping of a new <br />wing on Culbreth Middle School in Chapel Hill, renovation of the County's Whitted <br />Building in Hillsborough, and a variety of other County projects, including vehicle <br />replacements, information technology upgrades and replacements, HVAC improvements, <br />roof replacements and various communication systems upgrades and replacements. The <br />County may also use financing proceeds to provide required reserves and to pay <br />financing costs. <br />The proposed financing would be secured by a lien on some or all of the property <br />to be improved or acquired through the financing. The County expects this may include <br />the Culbreth Middle School (and the related real property). There would be no recourse <br />against the County or its property (other than the pledged facilities and associated land) in <br />the case of a default. <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 the 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 Clarence Grier, <br />Orange County Finance Officer, Post Office Box 8181, Hillsborough, NC 27278 <br />(telephone 919/245 -2453, email cgrier @orangecountync.gov). <br />