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July 23, 1993 Municipal Financial Group <br /> THE FLEXIBLE OPTION <br /> Mr. Don Phillips <br /> Hock Development <br /> 4117 N. Roxboro Road <br /> Durham, NC 27704 <br /> Dear Don: <br /> I am pleased to include our proposal for financing the new Triangle Community Activity <br /> Center. From our research and previous conversations I feel confident that this should <br /> be a good plan for all parties involved. <br /> Our firm will act as placement agent to coordinate the funding and legal work necessary <br /> to complete the proposed 63-20 financing. We are asking for resolutions to be passed by <br /> both Orange County and the Triangle Youth Hockey Association approving this process <br /> and allowing us to begin drafting the necessary documentation and securing funding. <br /> I have asked Don Ubell of Parker Poe Adams & Bernstein to act as Bond Counsel and <br /> our placement agent counsel. We would anticipate working with all parties involved to <br /> select the appropriate North Carolina trustee for the issue. <br /> I feel we have an excellent project here and look forward to working with all the parties <br /> involved to complete the financing. <br /> Sincerely, <br /> CIPAL CIAL GROUP <br /> { <br /> C€4, � E <br /> Dick Davis <br /> Director of Public Finance <br /> DD:jj <br /> Enclosure <br /> 1132 LUTTRELL • SUITE A • BLUE SPRINGS,MISSOURI 64015 <br /> 816 228-3040 • FAX 816 228-4442 • 800.765-1011 <br />