Minutes - April 16, 2012 Regular Meeting

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BK:00024 PG:0858 The Board of Commissioners for the County of Lee, North Carolina met in a regular meeting in the Commissioners' Room at the Lee County Government Center, 106 Hillcrest Drive in Sanford, North Carolina, the regular place of meeting, at 6:00 p.m. on April 16, 2012. Present: Chairman Linda A. Shook, presidim, and Commissioners aar)ie hrkS Ro blr - k Ak lL' . t A1<1.1 4 0 Also Clerk hihe, 60J m, lee— The Chairman announced that this was the hour and day of the public hearing on a proposed installment financing agreement (the "Agreement ") 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 $24,000,000 for the purpose of (a) refinancing all or a portion the County's installment financing obligations relating to the Certificates of Participation (Public School and Community College Project), Series 2004, dated January 7, 2004 (the "Series 2004 Certificates"), the proceeds of which were used to pay the costs of acquiring, constructing and equipping a new public high school and a new emergency services training center for Central Carolina Community College, and (b) paying certain financing costs related thereto. If the County enters into the Agreement, its obligations thereunder will be secured by a deed of trust on all or a portion of the sites of the facilities financed by the Series 2004 Certificates, together with all improvements and fixtures located or it to be located thereon.