The City Council of the City of Statesville, North Carolina (the “City”) has determined to consider whether to enter into an installment financing agreement (the “Agreement”) pursuant to Section 160A-20 of the General Statutes of North Carolina obligating the City to make installment payments thereunder in a principal amount not to exceed $11,000,000, plus interest thereon.  The Agreement is for the purpose of providing funds, together with any other available funds, to pay the costs of acquiring, constructing and equipping a new municipal services building to be located at or in the vicinity of 1809 Shelton Avenue in Statesville and to be used as a police headquarters station by the City police department (the “Project”). The Project may also be expanded to include a fire station and an emergency management station. To secure its obligations under the Agreement, the City will grant a lien on all or a portion of the site of the Project, together with any improvements or fixtures located or to be located thereon.

Section 160A-20(g) of the General Statutes of North Carolina requires that the City hold a public hearing prior to entering into the Agreement. If the City Council of the City so determines, an application will be submitted to the Local Government Commission of North Carolina for approval of the Agreement.

Please take notice that the City Council of the City will conduct a public hearing in the Council Chambers of the City Hall located at 227 South Center Street in Statesville, North Carolina at 7:00 p.m. on November 18, 2019 at which time any person may be heard regarding the proposed Agreement described above.

Any person wishing to comment in writing regarding the proposed Agreement should do so prior to November 18, 2019 to the City of Statesville, North Carolina, 227 South Center Street, Statesville, North Carolina 28687, Attention:  Brenda Fugett, City Clerk.

Brenda Fugett
City Clerk
City of Statesville, North Carolina