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19 <br />Orange County, North Carolina -- Notice of Public Hearing <br />2004 Installment Financing Protects <br />The Board of Commissioners of Orange County, North Carolina, will <br />hold a public hearing on Wednesday, June 23, 2004, at 7:30 p.rn. (or as soon <br />thereafter as the mattei° may be heard). The purpose of the hearing is to take <br />public comment concerning a proposed financing contract, under which the <br />County would bon-ow approximately $14,700,000 to pay capital costs <br />related to the following projects: <br />School projects, including a new <br />high school for the Chapel Hill - Carrboro <br />district and other school improvements $9,000,000 <br />Acquisition of conservation <br />easements and similar interests <br />inland $500,000 <br />Senior centers $2,150,000 <br />Orange County campus <br />of Durham Tech - <br />building costs $.3,000,000 <br />The County may also use additional financing proceeds to provide <br />required reserves, to pay financing costs and to pay other necessary and <br />related costs, <br />The hearing will be held in the Board's regular meeting room in the <br />County's Southern Human Services Center, 2501 Hornestead Road, Chapel <br />Hill, North Carolina. <br />The proposed financing would be secured by a lien on the new high <br />school (and its associated land) and the County's promise to repay the <br />financing, but there would be no recourse against the County or its property <br />(other than the pledged high school and the associated land) if there were a <br />default on the financing. As part of this financing plan, The Chapel Hill - <br />Carrboi°o City Board of Education will transfer the intended site of the new <br />high school to the County. <br />