- Board of Commissioners
- Board of Commissioners
Notice of Public Hearing on October 4th
Moore County (the “County”) has previously issued its Limited Obligation Bonds, Series 2010 now outstanding in the principal amount of $27,005,000 (the “2010 Limited Obligation Bonds”) to finance a new County public safety complex and certain utility improvements for the County, together with related costs. The 2010 Limited Obligation Bonds are secured by a Deed of Trust on the public safety complex. The Board of Commissioners for the County has determined to consider whether to issue new Limited Obligation Bonds to refinance all or a part of the 2010 Limited Obligation Bonds. Such refinancing would result in debt service savings to the County. The new Limited Obligation Bonds would also be secured by the Deed of Trust on the public safety complex.
In addition, the County has created a water district within the County known as East Moore Water District (the “District”), and the District has previously issued its general obligation bonds to finance water system improvements in the District. The District may refinance such general obligation bonds to achieve debt service savings, and, to facilitate the transaction, the County may issue additional Limited Obligation Bonds of the County to provide funds for the County to purchase the District’s general obligation bonds. Such additional Bonds would also be secured by the Deed of Trust on the public safety complex.
The aggregate principal amount of new Limited Obligation Bonds to refund the 2010 Limited Obligation Bonds and to purchase the District general obligation bonds will not exceed $33,000,000.
Section 160A-20(g) of the General Statutes of North Carolina requires that the County hold a public hearing prior to issuing such Limited Obligation Bonds. If the Board of Commissioners for the County so determines, an application will be submitted to the Local Government Commission of North Carolina for approval of the issuance of the Limited Obligation Bonds.
Please take notice that the Board of Commissioners for the County will conduct a public hearing in the Commissioners’ Meeting Room, Second Floor of the Historic Courthouse located at 1 Courthouse Square in Carthage, North Carolina, the regular place of meeting, at the Commissioners regular meeting at 5:30 p.m. on October 4, 2016 at which time any person may be heard regarding the proposed Limited Obligation Bonds described above.
Any person wishing to comment in writing regarding the proposed Agreement should do so prior to October 4, 2016 to the County of Moore, 1 Courthouse Square, Carthage, North Carolina 28327, Attention: Laura Williams, Clerk to the Board of Commissioners.
Clerk to the Board of Commissioners
County of Moore, North Carolina