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r� <br />question of the advisability of the Contract and the purchase of <br />the Property on an installment basis. The Clerk of the Board of <br />Commissioners reported that no written comment about the Contract <br />and the purchase of the Property on an installment basis had been <br />received. The names and addresses of the persons who were <br />present and summaries of their comments are as follows: <br />After the Boar <br />heard, Commissioner <br />closed and that the <br />motion was seconded <br />unanimously adopted. <br />Board had heard all persons who <br />moved that the <br />Board proceed to consider <br />by Commissioner <br />requested to be <br />public hearing be <br />the Contract. The <br />and was <br />=i reviewed for the Board the plans for a <br />financing pursuant to G.S. 150A -20 of certain costs relating to <br />acquisition of the Property, involving the payment of <br />approximately $302,500 in 19 equal quarterly installments with <br />interest at the rate of seven percent per annum, with the unpaid <br />purchase price secured by a lien on the Property. <br />then presented to the Board the <br />proposed forms of the following documents, all of which are more <br />specifically described in the resolution proposed for <br />consideration by the Board: <br />A. Offer to Purchase and Contract. <br />B. Promissory Note. <br />C. Deed of Trust. <br />The documents presented were delivered to the Clerk to the <br />Board and directed to be marked exhibits and made a part of the <br />permanent records of the Board. <br />introduced the following Resolution, a <br />copy of which had been provided to each Commissioner and the <br />title of which was read aloud: <br />RESOLUTION AUTHORIZING ORANGE COUNTY TO PURCHASE ON AN <br />INSTALLMENT PURCHASE BASIS AN APPROXIMATELY 34.10 ACRE <br />TRACT OF REAL PROPERTY OWNED BY VINTON A. HOYLE, JR. <br />AND WIFE MARTHA G. HOYLE TO BE SECURED BY A LIEN ON THE <br />REAL PROPERTY; TO EXECUTE AND PERFORM AN OFFER TO <br />PURCHASE AND CONTRACT, A PROMISSORY NOTE AND A DEED OF <br />2 <br />T <br />n <br />