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c. <br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING -ADDITION <br />OCTOBER 19, 2009 <br />6:30 PM <br />SUBJECT: <br />Finance -Resolution Approving Refinancing of Prior Installment Financing Contract <br />Financing in an Aggregate Principle Amount up to $27,535,000 <br />BRIEF SUMMARY: <br />On January 20, 2009 the Board adopted a resolution relating to refinancing of prior <br />installment financing contract financing of various public projects in an aggregate <br />principal amount not to exceed $60 million. The Board also held a public hearing on <br />this matter on February 16, 2009. Due to changes in the market, some of this debt is <br />eligible for refinancing which will reduce the County's future debt service payments. <br />However, the term will not be lengthened. <br />REQUESTED ACTION: <br />Motion to adopt resolution approving refinancing or prior installment contract financing <br />in an aggregate principal amount up to $27,535,000 and the execution and delivery by <br />the Cabarrus County Development Corporation of Certificates or participation related <br />thereto, authorizing the execution and delivery of related documents in conncection <br />therewith, and providing for certain other related matters. <br />EXPECTED LENGTH OF PRESENTATION: <br />5 Minutes <br />SUBMITTED BY: <br />Pamela S. Dubois, Deputy County Manager <br />BUDGET AMENDMENT REQUIRED: <br />No <br />COUNTY MANAGER'S RECOMMENDATIONS/COMMENTS: <br />321 <br />G-3 <br />