Resolution - Calling for Public Hearing to Finance Property - #2012-20

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2012 - o2 CO 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 4:00 p.m. on July 16, 2012. Present: Chairman Linda A. Shook, presiding., and Commissioners 6)6ZAC6 PAS hs j cliarZ Absent: Commissioners /J p Also la rk4 -0*"e- .66A4 ryv" SC T �ehti C n aatc,— introduced the following resolution the title of which was read and copies of which had been previously distributed to each Commissioner: RESOLUTION CALLING A PUBLIC HEARING IN CONNECTION WITH THE FINANCING OF THE PURCHASE OF REAL PROPERTY WHEREAS, the Board of Commissioners (the "Board ") for the County of Lee, North Carolina (the "County ") is considering the purchase of three pieces of property, an office building on 408 Summitt Drive, Sanford, NC; a house on .79 acre on 915 Wicker Street, Sanford, NC and office building on 128 -134 S. Steel Street, Sanford, NC to be used by the County and Central Carolina Community College for various governmental purposes, all pursuant to an installment financing arrangement; WHEREAS, in order to finance the purchase, the County proposes to enter into an installment financing agreement with Dr. Paul Howard and Dr. Barbara James, (the "Agreement "); WHEREAS, as security for its obligations under the Agreement, the County may be required to execute and deliver a deed of trust granting a lien on all or a portion of the sites of the facilities financed together with all improvements and fixtures located or to be located thereon; WHEREAS, in accordance with Section 160A -20(g) of the North Carolina General Statutes, the County is required to hold a public hearing on the proposed Agreement described above; and ,AL NOW THEREFORE, BE IT RESOLVED by the Board of Commissioners for the County of Lee, North Carolina as follows: