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Granville County, North Carolina — Notice of Public Hearing Financing for Law Enforcement Center – Animal Shelter Project and Loan Refinancings

The Board of Commissioners of Granville County, North Carolina, will hold a public hearing on Tuesday, September 4, 2018, at 7:00 p.m. (or as soon thereafter as the matter may be heard). The purpose of the hearing is to take public comment concerning a proposed financing contract, under which the County would borrow money as follows:

 

  • Up to approximately $29,000,000 to pay for the acquisition and construction of a new law enforcement facility and animal shelter,
  • An amount sufficient to refinance up to approximately $15,000,000 of existing County obligations to save money on debt service costs, and
  • Amounts appropriate to pay financing costs.

 

The hearing will be held in the Commissioners’ usual meeting room, the Auditorium of the Granville Expo and Convention Center, 4185 US Highway 15 South, Oxford, North Carolina.

 

The proposed financing would be secured by a lien on the new law enforcement and animal shelter facilities (and the associated land), as well as the County’s promise to repay the financing, but there would be no recourse against the County or its property (other than the pledged facilities and land) if there were a default on the financing. The County may also make a similar pledge of facilities that already secure the obligations that are to be refinanced, which may include Granville Central High School and other County facilities.

                                                                                                                       

All interested persons will be heard. The County’s plans are subject to change based on the comments received at the public hearing and the Board’s subsequent discussion and consideration. The County’s entering into the financing is subject to obtaining approval from the North Carolina Local Government Commission.

 

Persons wishing to make written comments in advance of the hearing or wishing more information concerning the subject of the hearing may contact Steve McNally, Granville County Finance Officer, 141 Williamsboro Street, Oxford, NC 27565 (telephone 919/693-4182, email Steve.McNally@granvillecounty.org).

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