Minutes - Dec. 21, 2015 Reg. Meeting

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BK.00027 PG: 1028 The first hearing was to consider refinancing of 2006 Certificates of Participation. Finance Director Lisa Minter stated that according to Section 160A -20(g) of the North Carolina General Statutes, the County is required to hold a public hearing on the proposed refinancing of the County's 2006 Certificates of Participation. Proposed annual savings to the County will be approximately $111,000. The Board will be asked to approve various documents pertaining to the refinancing project after the public hearing. Chair Dalrymple opened the public hearing that had been advertised for this date and time. No one present spoke for or against the refinancing project referenced above. Chair Dalrymple closed the public hearing. Commissioner Smith moved to approve a Resolution Approving and Authorizing the Execution and Delivery of an Amendment Number Three to the Installment Financing Contract and Related Documents in Connection with the Refinancing of Certain Installment Financing Obligations of the County, a copy of which is attached to these Minutes and by this reference made a part hereof. Upon a vote, the results were as follows: Aye: Dalrymple, Frazier, Knecht, Oldham, Reives, Sloan, and Smith Nay: None The Chair ruled the motion had been adopted unanimously. The second public hearing involved the closeout of the 2011 Community Development Block Grant (CDBG) Program. Community Development Manager Karen Kennedy stated that as part of the project administration process for the program, a public hearing must be held at closeout time. The purpose of the hearing is to re -open the project to correct a procedural detail which occurred after the project closed and allow citizens an opportunity make comments. Based on a letter received from the Department of Commerce State CDBG Program office, the project must be re -opened due to an error in the county's requisition number 24. Commerce has approved to re -open the grant in order for the county to draw down and expend $4,896.35 of grant funds. The county must submit a requisition to draw down funds in the amount stated. The county will also have to submit a revised closeout packet, affidavit of publication and provide certified minutes of the public hearing. The grant will close with the revised required closeout documentation. Chair Dalrymple opened the public hearing that had been advertised for this date and time. No one present spoke for or against the closeout of the 2011 Community Development Block Grant Program as presented. Chair Dalrymple closed the public hearing. Commissioner Reives moved to approve the Closeout Performance Report for the 2011 Community Development Block Grant Program, a copy of which is attached to these Minutes and by this reference made a part hereof. Upon a vote, the results were as follows: Aye: Dalrymple, Frazier, Knecht, Oldham, Reives, Sloan, and Smith Nay: None The Chair ruled the motion had been adopted unanimously. Il