2003 - 05-05-03 Regular Meeting - Laserfiche WebLink

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At 9 : 00_.M. Chairman Herb Hincks announced that the Board of Commissioners for the County of Lee (the "Board") would proceed to hold a public hearing and would hear anyone who wished to be heard (a) on the proposed issuance by file Lee County Industrial Facilities and Pollution Control Financing Authority (the "Authority") of not exceeding $4,250,000 aggregate principal amount of its industrial development revenue bonds to finance a portion of the cost of construction, equipping and furnishing of an approximately 125,000 square foot manufacturing facility for the manufacture of equipment for Caterpillar tractors to be located at 5915 Elvin Buchanan Drive, Sanford, Lee County, North Carolina (the "Project") and (b) on the proposed lending of the proceeds of the sale of the Bonds to Lee Central, LLC, a North Carolina corporation (the "Borrower"). It was stated that the Authority had adopted a resolution expressing its intention to issue industrial development revenue bonds and authorizing the execution and delivery of a Memorandum of Agreement pertaining to the financing of the Project. Copies of the resolution and the Memorandum of Agreement were then submitted to the Board. The Clerk to the Board presented an affidavit of an officer of The Sanford Herald, showing publication on April 20, 2003, a date at least 14 days prior hereto, of notice of the public hearing. It was directed that the affidavit of publication be attached to this extract of minutes as Exhibit A. It was requested that the Clerk to the Board inquire to determine whether there were any persons who wished to speak at the public hearing. The names and addresses of the persons who Y were present and who offered comments on the proposed issuance of the industrial development revenue bonds to finance the Project and a summary of their comments are listed on Exhibit B. Y