The Board of Commissioners (the “Board”) of the County of Haywood, North Carolina (the “County”) is considering entering into an installment financing contract (the “Contract”), in a principal amount not to exceed $2,000,000, under which the County will make certain installment payments, in order to finance the capital costs of construction, renovation and improvement of a school administration building in the County (the “Project”). The Project will be located at 1233 North Main Street, Waynesville, North Carolina.
In connection with the Contract, the County will secure its obligations under the Contract by a deed of trust (the “Deed of Trust”) that grants a security interest on the site of the Project and the improvements thereon (the “Mortgaged Property”). The Contract and the Deed of Trust permit the County to enter into amendments to finance additional projects and refinance projects using the Mortgaged Property as collateral and the County may grant additional collateral in connection with such amendments. On the County’s payment of all installment payments due under the Contract, including any future amendments to finance or refinance projects, the lien created in the Project will terminate and any security interest granted to the financial institution providing the funding in the Project will be released.
NOTICE IS HEREBY GIVEN, pursuant to Sections 160A-20 of the General Statutes of North Carolina, that on February 1, 2021 at 9:00 a.m., or as soon thereafter as practicable, in the Historic Courtroom of the Haywood County Courthouse, 215 Main Street, Waynesville, North Carolina 28786, the Board will conduct a public hearing concerning the approval of the execution and delivery of the Contract, the County’s financing of the Project, and the granting of a security interest therein. All interested parties are invited to present comments at the public hearing regarding the execution and delivery of the Contract and the Project to be financed thereby.
This 20th day of January, 2021.
Tracy L. Wells, Clerk to the Board
Haywood County Board of Commissioners