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The Board of Commissioners for the County of Orange, North <br /> Carolina, met in the Old Orange County Courthouse in Hillsborough, <br /> North Carolina at 7:30 P.M. on December 5, 1994. <br /> Present: Chairman Moses Carey, Jr. , presiding, and <br /> Commissioners William L. Crowther, Alice M. Gordon, Stephen H. <br /> Halkiotis and Don Willhoit <br /> Absent: NONE <br /> The Chairman of the Board of Commissioners announced that this <br /> was the hour, day and place fixed for the public hearing for the <br /> purpose of ( 1) considering whether the Board of Commissioners <br /> should approve a proposed installment payment agreement and certain <br /> related documents under which the County would obtain financing <br /> pursuant to G.S . § 160A-20, as amended, of the acquisition, <br /> construction and equipping of a project consisting of a new <br /> elementary school for the Chapel Hill - Carrboro City Schools, as <br /> more particularly described in the notice of such public hearing <br /> which was published in The News of Orange County and The Chapel <br /> Hill Herald on November 23, 1994, and under which the County would <br /> secure the repayment by it of moneys advanced pursuant to such <br /> installment payment agreement by granting a security interest in <br /> such project and certain related property, and (2) considering <br /> whether the County should acquire the site of such project from the <br /> Chapel Hill - Carrboro Board of Education to facilitate such <br /> financing. <br /> 1 <br />