RES-2024-021-Resolution supporting an application to the Local Government Commission for its approval of a County Financing Agreement

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Orange County, North Carolina - - Notice of Public Hearing 2024 Installment Financing for Various Pro ' ects The Board of Commissioners (the " Board ") of Orange County, North Carolina (the " County" ) , will hold a public hearing on May 7 , 2024, at 7 : 00 p . m . ( or as soon thereafter as the matter may be heard) . The purpose of the hearing is to take public comment concerning a proposed financing contract, under which the County would borrow an amount expected not to exceed $ 23 , 500 , 000 to pay for the various public improvements and acquisitions shown below, and to pay financing costs : [ Project list will go here . ] The total amount financed will not exceed the amounts estimated for the project costs and financing costs . The hearing will be held in the Board ' s usual meeting room in the County' s Whitted Building, 300 West Tryon Street, Hillsborough, North Carolina . The proposed financing would be secured by a lien on some or all of the property purchased or improved through the financing as well as - the County' s promise to repay the financing, but there would be no recourse against the County or its property ( other than the pledged property) if there were a default on the financing . The County expects that the County' s Whitted Building and several schools will serve as the primary collateral . All interested persons will be heard . The County' s plans are subject to change based on the comments received at the public hearing and the Board ' s subsequent discussion and consideration . The County' s entering into the financing is subject to obtaining approval from the North Carolina Local Government Commission . Persons wishing to make written comments in advance of the hearing or wishing more information concerning the subject of the hearing may contact Gary Donaldson, Orange County Chief Financial Officer, Post Office Box 8181 , Hillsborough, NC 27278 (telephone 919 / 24S - 2453 , email gdonaldson@ orange countync . gov) .