March 4, 2013 - Cabarrus County

efunding bonds and to use the proceeds thereof, together with any other funds necessary, to
advance refund all or a portion of each maturity of the County’s outstanding School Bonds,
Series 2005, dated March 1, 2005 and Public Improvement Bonds, Series 2006, dated September
1, 2006 (collectively, the “Bonds To Be Refunded”).
(c) That the prospective Bonds To Be Refunded financed, together with any other funds
necessary, various public school and other public facilities of the County.
(d) That the shortest period of time in which the Bonds To Be Refunded can be finally
paid without making it unduly burdensome on the taxpayers of the County, as determined by the
Local Government Commission of North Carolina, is a period which expires not later than
December 31, 2043.
Section 2. Pursuant to the 2013 Order there shall be issued bonds of the County in an
aggregate principal amount of $62,390,000, with such amount subject to adjustment as
hereinafter set forth, designated “General Obligation Refunding Bonds, Series 2013” and dated
their date of delivery, or such other date as may be designated by the County Manager or Finance
Director (the “Series 2013 Bonds”). The Chairman or Vice-Chairman of the Board, the County
Manager or the Finance Director, respectively, each acting on behalf of the County, may increase
or decrease the aggregate principal amount of the Series 2013 Bonds by any amount, so long as
such amount shall not exceed $95,580,000, as determined to be in the best interest of the County,
and may make any such increase or decrease either before or after the bids are opened. The
Series 2013 Bonds shall be stated to mature (subject to adjustment as hereinafter set forth)
annually, March 1 (or such other date designated in accordance with the immediately preceding
sentence), $170,000 2014, $2,100,000 2016, $3,970,000 2017, $5,015,000 2018, $6,380,000
2019, $6,430,000 2020, $6,460,000 2021, $6,495,000 2022, $6,535,000 2023, $6,565,000 2024,
$6,165,000 2025, $3,280,000 2026 and $2,825,000 2027. The foregoing notwithstanding, the
Chairman or Vice-Chairman of the Board, County Manager or Finance Director, respectively,
each acting on behalf of the County, may increase or decrease the principal amount of the Series
2013 Bonds maturing at each maturity, either before or after the opening of bids in the case of a
competitive sale or prior to execution of a contract of purchase in the case of a private sale of the
Series 2013 Bonds (including elimination or addition of one or more maturities), provided that
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Attachment number 2
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