HomeMy WebLinkAbout07-20-2026 Notice of Public Hearing Concerning the Approval of the Execution and Delivery of the First Amendment and the 2026 Projects Financed Thereby
NOTICE OF PUBLIC HEARING
The County of Person, North Carolina (the “County”) previously entered into an Installment
Financing Contract dated as of November 1, 2023 (the “2023 Contract”) with the Person County Financing
Corporation (the “Corporation”) to finance the projects described therein. To secure its obligations under
the 2023 Contract, the County previously executed and delivered a Deed of Trust, Security Agreement and
Fixture Filing dated as of November 1, 2023 (the “Deed of Trust”) pursuant to which the County granted a
lien on the site of Person High School, together with the real estate improvements thereon and
appurtenances thereto (collectively, the “Mortgaged Property”). The Mortgaged Property is located at 1010
Ridge Road, Roxboro, North Carolina 27573.
At its July 6, 2026 meeting, the Board of Commissioners (the “Board”) of the County adopted a
resolution which authorized the County to enter into Amendment Number One to the Installment Financing
Contract (the “First Amendment” and together with the 2023 Contract, the “Contract”), the aggregate
principal amount of which is currently expected not to exceed $10,200,000, under which the County will
make certain installment payments to finance capital improvements to County public school facilities,
including, but not limited to: (i) construction of additional classroom space and improvements to safety,
security, and parking facilities at Stories Creek Elementary School; (ii) improvements to safety, security,
and parking facilities at Helena Elementary School; (iii) improvements to security and egress at Oak Lane
Elementary School; and (iv) renovation of classroom space and improvements to accessibility and security
at South Elementary School, together with all related site work, furnishings, equipment, and incidental
improvements (collectively, the “2026 Projects”).
The Contract and the Deed of Trust permit the County to enter into amendments to finance or
refinance additional projects using the Mortgaged Property as collateral and the County may or may not
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, any
lien the Deed of Trust created will terminate and the County’s title to the Mortgaged Property will be
unencumbered.
NOTICE IS HEREBY GIVEN, pursuant to Section 160A-20 of the General Statutes of North
Carolina and Section 147(f) of the Internal Revenue Code of 1986, that on July 20, 2026 at 9:00 a.m. in the
Commissioners’ Boardroom, Room 215, Person County Office Building, 304 S. Morgan Street, Roxboro,
North Carolina, a public hearing will be conducted concerning the approval of the execution and delivery
of the First Amendment and the 2026 Projects financed thereby. All interested parties are invited to present
comments thereon at the public hearing.
/s/ Michele Solomon
Michele Solomon, NCCCC
Clerk to the Board of Commissioners
County of Person, North Carolina
Published: July 9, 2026