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<br />Orange County, North Carolina --Notice of Public Hearing -- <br />Financingfor Carrboro High School <br />The Board of Conmzissioners of Orange County, North Carolina, will hold a public <br />heal°ing on Tuesday, October .3, 2006, at 7:.30 p.m, (or as soon thereafter as the matter <br />may be heard). The purpose of the hearing is to take public comment concerning a <br />proposed financing contract, under which the County would borrow approximately <br />$9,000,000 to fiords for the acquisition and construction of Can-boro High School. The <br />County may also rise financing proceeds to provide required reserves and pay financing <br />costs. <br />The hearing will be held in the F. Gordon Battle Courtroom, Orange County <br />Cou1•thouse, 106 East Margaret Lane, Hillsborough, North Carolina, <br />The proposed financing would be secured by a lien on the high school (and its <br />associated land) and the County's promise to repay the financing, but there would be no <br />recourse against the County or its property (other than the pledged facility and the <br />associated land) if there were a default on the financing. As part of the financing plan, <br />the Chapel Hill -Carrboro Board of Education will transfer the school property to the <br />County, <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 Govermnent Conulrission. <br />Persons wishing to make written comments in advance of the hearing or wishing <br />more information concerning the subject of the hearing may contact Kenneth T. <br />Chavious, Finance Officer, Orange County, Post Office Box 8181, Hillsborough, NC <br />27278 (telephone 919/245-2453), <br />