Agenda Package - 04-22-10 Public Hearing

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(;L 0 • • 001 Legals NOTICE OF PUBLIC DARING The Board of Com- missioners for the County of Lee, North Carolina (the "Coun- ty") has determined to consider whether to enter into one or more installment fi mincing agreements (collectively, the Agreement") under Section 160A-20 of the General Statutes of North Carolina for the purpose of paying the costs of renovat- ing and improving ex- isting facilities and constructing and equipping an addi- tion to Lee County High School (the "Project"). The Coun- ty would be obligated to pay debt service or installment payments under the Agreement in an aggregate prin- cipal amount not to exceed $23,000,000, to- gether with interest thereon. If the Coun- ty enters into the Agreement, it will se- cure its obligations thereunder by execut- ing and delivering a deed of trust granting a lien on the site of the Project, together with all improve- ments and fixtures lo- cated or to be located thereon. In addition, in connection with the proposed plan of finance, the site of the Project would be ac- quired by the County and leased to the Lee County Board of Edu- cation to be used for school purposes, which lease would be subordinate to the lien created by the deed of trust. Section 160A-20 of the General Statutes of North Carolina re- quires that the Coun- ty hold a public hear- ing prior to entering into the Agreement. Section 153A-158.1 of the General Statutes of North Carolina re- quires that-the Coun- ty hold a public hear- ing relating to the proposed acquisition of the site of the Proj- ect by the County to be used for school purposes. Please take notice that the Board of Commissioners for the County will con- duct a public hearing in the Commissionr ers' Room at the Lee County Government Center, 106 Hillcrest Drive in Sanford, North Carolina at.5:00 p.m. on April 22, 2010, at which time any person may be heard regarding the pro- posed Agreement or the proposed acquisi- lion of the site of the Project by the Coun- ty Any person wishing to comment in writ- ing on the proposed Agreement or the proposed acquisition of the site of the Proj- ect by the County should do so within ten (10) days after the publication of this no- tice to the County of Lee, North Carolina, Lee County Govern- ment Center, 106 Hill- crest Drive, Sanford, North Carolina 27330- 4021, Attention:.Gay- nell M. Lee, Clerk to the Board of Commis- sioners. Gaynell M. Lee Clerk to the Board of Commissioners County of Lee, North Carolina