Orange County NC Website
8 <br /> Orange County, North Carolina -- Notice of Public Hearing <br /> 2024 Installment Financing for Various Projects <br /> The Board of Commissioners (the "Board") of Orange County, North Carolina <br /> (the "County"), will hold a public hearing on May 7, 2024, at 7:00 p.m. (or as soon <br /> thereafter as the matter may be heard). The purpose of the hearing is to take public <br /> comment concerning a proposed financing contract, under which the County would <br /> borrow an amount expected not to exceed $23,500,000 to pay for the various public <br /> improvements and acquisitions shown below, and to pay financing costs: <br /> [Project list will go here.] <br /> The total amount financed will not exceed the amounts estimated for the <br /> project costs and financing costs. <br /> The hearing will be held in the Board's usual meeting room in the County's <br /> Whitted Building, 300 West Tryon Street, Hillsborough, North Carolina. <br /> The proposed financing would be secured by a lien on some or all of the <br /> property purchased or improved through the financing as well as the County's <br /> promise to repay the financing, but there would be no recourse against the County or <br /> its property(other than the pledged property) if there were a default on the financing. <br /> The County expects that the County's Whitted Building and several schools will serve <br /> as the primary collateral. <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 Chief Financial Officer, Post Office Box 8181, Hillsborough, <br /> NC 27278 (telephone 919/245-2453, email gdonaldson@orangecountync.gov). <br />