10/05/10 - Financing Agreements - Public Hearing


The Town Council of the Town of Apex, North Carolina (the “Town”) has determined to  consider whether to enter into one or more trust agreements, installment financing agreements or similar instruments (the “Agreement”) under Section 160A-20 of the General Statutes of North Carolina for the purpose of refinancing its obligations under an installment financing contract 
entered into in 2008 pursuant to which the Town financed the cost of (a) expanding and renovating an existing police station and (b) acquiring, constructing and equipping a new fire and emergency medical services facility for the Town (collectively, the “Project”).  Pursuant to such refinancing, the Town would be obligated to pay debt service or installment payments under the 
Agreement in an aggregate principal amount not to exceed $9,700,000, together with interest thereon  If the Town enters into the Agreement, it will secure its obligations thereunder by executing and delivering one or more deeds of trust granting a lien on all or a portion of the sites of the Project, together with any existing and future improvements or fixtures located or to be 
located thereon.Section 160A-20 of the General Statutes of North Carolina requires that the Town hold a 
public hearing prior to entering into the Agreement.Please take notice that the Town Council of the Town will conduct a public hearing in the Council Chambers of the Town Hall located at 73 Hunter Street in Apex, North Carolina at 7:00 p.m. on October 5, 2010, at which time any person may be heard regarding the proposed Agreement.
Any person wishing to comment in writing on the proposed Agreement should do so within ten (10) days after the publication of this notice to the Town of Apex, North Carolina, PO Box 250, Apex, North Carolina  27502-0250; Attention: Town Clerk.
Georgia A. Evangelist, MMC
Town Clerk
Town of Apex, North Carolina