NOTICE OF PUBLIC HEARING
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 $25,000,000], under which the County will make certain installment payments, in order to finance renovations and an expansion to the existing County Detention Center to include an approximately 155 new bed expansion, a new security systems integrated into the existing detention facility, and miscellaneous renovations and improvements to the existing detention facility (the “Project”) and costs of entering into the Contract. The Project will be located at 1620 Brown Avenue, 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, including the existing Detention Center (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 20, 2023 at 5:30 p.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. Persons wishing to be heard at the public hearing are asked to be present. The County Commissioners may adopt reasonable rules governing the conduct of the hearing including (i) fixing the maximum time allotted to each speaker, (ii) providing for the designation of spokesmen for groups of persons supporting or opposing the same position, (iii) providing for the selection of delegates from groups of persons supporting or opposing the same positions when the number of persons wishing to attend the hearing exceeds the capacity of the hall, and (iv) providing for the maintenance of order and decorum in the conduct of the hearing.
This the 8th day of February, 2023.
/s/ Amy L. Stevens
Clerk to the Board of Commissioners
County of Haywood, North Carolina
