10-19-20 BOC Regular Meeting - Laserfiche WebLink

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The Board of Commissioners for the County of Lee, North Carolina met in a regular meeting at the Dennis Wicker Civic Center located at 1801 Nash Street in Sanford, North Carolina, at 6:00 p.m. on October 19, 2020. Present: Chair Amy M. Dalrymple, presiding, and Commissioners Arianna Del Palazzo, Kevin C. Dodson, Cameron W. Sharpe, Dr. Andre Knecht and Kirk D. Smith Absent: Commissioner Robert T. Reives Also present: County Manager Dr. John A. Crumpton, Clerk to the Board Jennifer Gamble, County Attorney Whitney Parrish and Assistant County Manager/Finance Director Lisa G. Minter * * * * * * At 6:00 p.m., the Chair announced that this was the hour and day of the public hearing on a proposed installment financing contract (the "Contract") to be entered into by the County of Lee, North Carolina (the "County") pursuant to Section 160A-20 of the General Statutes of North Carolina in the aggregate principal amount not to exceed $15,400,000 for the purpose of (a) refinancing a prior installment financing obligation of the County entered into to finance (i) the construction and equipping of a new public middle school facility and a new multi-purpose room for the Floyd L. Knight School, (ii) the construction and equipping of a new parks and recreation facility, (iii) the renovation of various facilities at Central Carolina Community College and (iv) the installation of a new roof and other related improvements to the County's Civic Center (collectively, the "Project") and (b) paying certain financing costs related thereto. If the County enters into the Contract, its obligations thereunder will be secured by a deed of trust on all or a portion of the sites of the Project, as well as the high school previously financed by the County, together with all improvements and fixtures located or to be located thereon. Section 160A-20(g) of the General Statutes of North Carolina requires that the County hold a public hearing prior to entering into the Contract. The Chair acknowledged due publication of the notice of public hearing in a newspaper with a general circulation in the County and directed the Clerk to the Board of Commissioners to attach the affidavit showing publication in said newspaper on a date at least ten (10) days prior to the date hereof as Exhibit A. The Chair then announced that the Board of Commissioners would immediately hear anyone who might wish to be heard on the advisability of the proposed refinancing as described above.