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6 <br /> The County plans to divide the project funding into two phases (two separate <br /> financings) as indicated above. The proposed financings would be secured by a lien <br /> on some or all of the property purchased or improved through the financing as well <br /> as the County's promise to repay the financing, but there would be no recourse <br /> against the County or its property (other than the pledged property) if there were a <br /> default on the financing. The County expects that the collateral for each phase will <br /> include several County facilities that are already pledged for earlier financings, plus <br /> the County's new crisis diversion facility and the County Justice Facility. <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 financings 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 />