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BK.00024 PG.0866 <br />The Board of Commissioners for the County of Lee, North Carolina met in a regular <br />meeting in the Commissioners' Room at the Lee County Government Center, 106 Hillcrest Drive <br />in Sanford, North Carolina, the regular place of meeting, at 6:00 p.m. on April 16, 2012. <br />Present: Chairman Linda A. Shook, presiding, and CommissionersOVZ A OAS , AOL rT <br />0 % 1 \ I )I T\ 1 1 <br />11 <br />Also <br />(pa;- ione introduced the following resolution the title of which was read <br />and copies of which had been distributed to each Commissioner: <br />RESOLUTION ACCEPTING THE PROPOSAL OF PNC BANK, NATIONAL <br />ASSOCIATION IN CONNECTION WITH THE REFINANCING OF CERTAIN <br />OUTSTANDING INSTALLMENT FINANCING OBLIGATIONS OF THE <br />COUNTY PURSUANT TO AN INSTALLMENT FINANCING CONTRACT <br />WHEREAS, the County of Lee, North Carolina (the "County') intends to enter into an <br />installment financing agreement pursuant to Section 160A -20 of the General Statutes of North <br />Carolina for the purpose refinancing all or a portion the County's installment financing <br />obligations relating to the Certificates of Participation (Public School and Community College <br />Project), Series 2004, dated January 7, 2004 (the "Series 2004 Certificates "), the proceeds of <br />which were used to pay the costs of acquiring, constructing and equipping a new public high <br />school and a new emergency services training center for Central Carolina Community College; <br />and <br />