Agenda - 03-02-2006-8bOS - Laserfiche WebLink

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Professionals Banc of America Securities LLC, Charlotte, North Carolina, and Siebert Brandford Shank & Co., LLC, «~'ashington, D. C., are serving as the Underwriters (the "Underwt~iter~s"}. The Bank of New fork is serving as Trustee. Sanford Holshouser LLP, Raleigh, North Carolina, is sel-~~ing as Special Counsel ("S~ecial Counsel"). Robinson, Bradshaw & Hinson, P.A., Charlotte, North Carolina, is serving as counsel to the Underwriters. Coleman, Gledhill, Hargrave and Peek, P.C., Hillsborough, North Carolina, is serving as County Attorney. is serving as counsel to the Company. Additional In forni a tion During the initial offering period, copies of the principal financing documents can be obtained from the Underwriters at Banc of America Securities, 214 North Tiyon Street, Charlotte, North Carolina 28255. After the offering period, copies of such documents may be obtained from the Trustee at The Bank of New York, 14161 Centurion Park«~ay, Jacksonville, Florida 32256, Attention: Corporate Trust Department. All such copies will be provided at the expense of the requesting party. THE Za06A CERTIFICATES Authorization The 2446A Certificates will be delivered pursuant to the Trust Agreement. The 2446 A Certificates will represent proportionate and undivided interests in certain amounts payable by the County under the Financing Contract (as well as certain insurance and condemnation proceeds and proceeds from the exercise of remedies, all as may arise under the Financing Contract}. The County is entering into the Financing Contract pursuant to the provisions of Section 164A-24 of the North Carolina. The County's Board of Commissioners authorized the County's entering into the Financing Contract and the Deed of Trust and the issuance of the 2446A Certificates by a resolution adopted on March 2, 2446. In addition, the County's entering into the Financing Contract received the required approval of the North Carolina Local Government Conmlission (the "LGC"} on April 4, 2446. The LGC is a division of the State Treasurer's office and is charged with general oversight of local government finance in North Carolina. Its approval is required for most bond issues and other local government financing arrangements in North Carolina. Under its own operating procedures, the LGC must determine, prior to approving an installment financing, among other things, that (1}the proposed financing is necessary and expedient, (2} the financing, under the circumstances, is preferable to a general obligation or revenue bond issue for the same purpose and (3) the sums to fall due under the Financing Contract are not excessive for the local government. C-883836v4 13361.00022