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3 <br />Resolution approving in principle a plan for the County's acquisition and financing <br />of a building and authorizing appropriate staff work <br />WHEREAS, there has been presented to this Board a plan for Orange County to. <br />acquire the buildings and associated property at 11.2 N. Churton Street, specifically the. old <br />Hillsborough Savings Bank Building and at 118 N. Churton Street, specifically the Graham <br />Building, in Hillsborough, and to finance that acquisition through an installment financing <br />contract as authorized under Section 160A -20 of the North Carolina General Statutes.; and <br />WHEREAS, the Board of Commissioners has determined 'to approve such plan and <br />to authorize County staff to proceed accordingly; <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners .of <br />Orange County; North Carolina, as follows: <br />L. The Board. approves in principle the plan described to the Board for the <br />County's acquisition and financing of the old Hillsborough Savings Bank Building and the <br />Graham Building in Hillsborough. The County will not; however, complete any. <br />acquisition or financing until the Board takes further action after the public. hearing <br />required by law and referenced below in. this resolution. <br />2. The Finance Officer and all other County, officers and employees 'are. <br />authorized and directed to proceed with the installment. financing that is part of the <br />financing plan, and to take all such further action as they may consider desirable in that <br />connection. <br />3. The Clerk to this. Board is authorized and directed to provide for the <br />publication of a notice of public hearing on the proposed financing, in the form and manner <br />prescribed by statute, with the hearing to be. held at the Board's meeting on Jan uary 18, <br />2001. <br />This the 12'. day of December 2000. <br />