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3 <br /> Attachment 1 <br /> s*h draft of August 30 <br /> Orange County, North Carolina -- Notice of Public Hearing <br /> Refinancing of Various Existing Obligations <br /> The Board of Commissioners of Orange County, North Carolina, will hold a <br /> public hearing on Tuesday, September 19, 2017, at 7:00 p.m. (or as soon thereafter <br /> as the matter may be heard). The purpose of the hearing is to take public comment <br /> concerning a proposed financing contract, under which the County would borrow an <br /> amount estimated as up to approximately $51,000,000 to refinance existing <br /> financing obligations and to pay related financing costs. <br /> The hearing will be held in the Commissioners' meeting room in the Southern <br /> Human Services Center, 2501 Homestead Road, Chapel Hill, North Carolina 27516. <br /> The refinancings are designed to provide savings to the County without <br /> extending the terms of the existing loans. The proposed financing would be secured <br /> by a lien on some or all of the property purchased or improved through the loans <br /> that are being refinanced, as well as the County's promise to repay the financing, but <br /> there would be no recourse against the County or its property (other than the <br /> pledged property) if there were a default on the financing. The County expects that <br /> the collateral for the financing will consist of some or all of Morris Grove Elementary <br /> School, the County Justice Facility, Northside Elementary School, the Orange County <br /> library building in Hillsborough, and the County's West Campus Office Building <br /> located at 131 West Margaret Lane in Hillsborough. <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 <br /> wishing more information concerning the subject of the hearing may contact Gary <br /> Donaldson, Orange County Finance Officer, Post Office Box 8181, Hillsborough, NC <br /> 27278 (telephone 919/245-2453, email gdonaldson @orangecountync.gov). <br />