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LEE COUNTY <br />Committed Today for a Better Tomorrow <br />LEE COUNTY BOARD OF COMMISSIONERS <br />ITEM ABSTRACT <br />Meeting Date: December 21, 2015 <br />ITEM NO. VIII. A. <br />_ Information <br />XX Action Item + Public Hearing <br />Consent Agenda <br />0815 <br />SUBJECT: Matters related to the Refinancing of the County's 2006 Certificates of <br />Participation <br />DEPARTMENT: Administration <br />CONTACT PERSON: Lisa G. Minter, Assistant County Manager/Finance Director <br />REQUEST: Conduct a public hearing on the refinancing of the County's 2006 Certificates <br />of and adopt a Resolution Approving and Authorizing the Execution and <br />Delivery of an Amendment Number Three to the Installment Financing <br />Contract and Related Documents in Connection with the Refinancing of <br />Certain Installment Financing Obligations of the County. <br />SUMMARY: In accordance with Section 160A -20(g) of the North Carolina General <br />Statutes, the County is required to hold a public hearing on the proposed <br />refinancing of the County's 2006 Certificates of Participation. <br />The Board also needs to adopt a Resolution Approving and Authorizing the <br />Execution and Delivery of an Amendment Number Three to the Installment <br />Financing Contract and Related Documents in Connection with the <br />Refinancing of Certain Installment Financing Obligations of the County. <br />BUDGET IMPACT: Proposed annual savings of approximately $111,000. <br />ATTACHMENT(S): 1) Public hearing proceedings and financing resolution, and <br />2) Notice from 12/11/15 Sanford Herald <br />PUBLIC HEARING: Yes <br />PRIOR BOARD ACTION: On 12/07/15, the Board of Commissioners set a public hearing for 12/21/2015 <br />and approved accepting a proposal Capital One Public Funding for the <br />refinancing. <br />RECOMMENDATION: Conduct public hearing as advertised for this date and time, and approve <br />necessary resolution <br />