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2010 - <br />• The Board of Commissioners for the County of Lee, North Carolina, met in a regular <br />meeting in Commissioners' Room, Lee County Government Center, 106 Hillcrest Drive in <br />Sanford, North Carolina, the regular place of meeting, at 6:00 p.m. on March 15, 2010. <br />Present: Chairman Richard B. Haves, presiding, and Commissioners <br />Absent: Commissioners <br />Also present: Commissioners Amy Dalrymple, James Kelly, Larry "Doc" Oldham <br />Nathan iF. Aacchal, Rnhprt T. Rpivp¢ and Linda A. Shank <br />Commissioner Dalrymple introduced the following resolution, the title of which was <br />: and copies of which had been distributed to each Commissioner: <br />RESOLUTION CALLING A PUBLIC HEARING IN CONNECTION <br />WITH THE FINANCING OF IMPROVEMENTS TO LEE COUNTY HIGH <br />• SCHOOL BY THE COUNTY <br />WHEREAS, the Board of Commissioners (the "Board ") for the County of Lee, North <br />Carolina (the "County") is considering the financing of renovations and improvements to <br />existing facilities and the construction and equipping of an addition to Lee County High School <br />(the "Project ") pursuant to an installment financing arrangement; <br />WHEREAS, in order to finance the Project, the County proposes to enter into one or <br />more installment financing agreements with one or more financial institutions to be selected by <br />the County (collectively, the "Agreement "); <br />WHEREAS, as security for its obligations under the Agreement, the County will be <br />required to execute and deliver one or more deeds of trust (collectively, the "Deed of Trust ") <br />granting a lien on all or a portion of the site of the Project, together with all improvements and <br />fixtures located or to be located thereon; <br />WHEREAS, in connection with the proposed plan of finance, the Site, which is currently <br />owned by the Lee County Board of Education, will be conveyed by said Board of Education to <br />the County, and the County will lease the Site back to the said Board of Education, subject to the <br />lien created by the Deed of Trust; <br />WHEREAS, 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 Agreement described <br />above; and <br />