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March 15, 2004 Page 392
<br />
<br /> Present
<br /> Account No. Approved Budget
<br />00165675-6206 $439,066.00
<br /> Foster Care & Board Home
<br />00165675-6217 $81,220.00
<br /> Adoption Assistance IVB
<br />00195675-9462 $958,112.00
<br /> AFDC Child State Foster Care
<br />00195675-9467 $90,563.00
<br />Adoption Assistance
<br />00195620-9454 $5,504,460.00
<br />Medicaid Assistance
<br />
<br /> Increase
<br />$781,421.00
<br />
<br /> $25,166.00
<br />$958,000.00
<br />
<br /> $68,765.00
<br />
<br />Decrease
<br />
<br />$220,178.00
<br />
<br />Revised Budget
<br />
<br />$1,220,487.00
<br />$106,386.00
<br />$1,916,112.00
<br />$159,328.00
<br />$5,284,282.00
<br />
<br />(F-9) Sheriff's Department - Budget Amendment (Scholastic Crime Stoppers
<br />Grant)
<br />
<br /> UPON MOTION of Commissioner Privette, seconded by Commissioner Carruth
<br />and unanimously carried, the Board adopted the following budget amendment for
<br />the Sheriff's Department.
<br />
<br />BUDGET REVISION/AMENDMENT REQUEST
<br />
<br />DEPARTMENT OF Sheriff's Office
<br />AMOUNT: $4,000.00
<br />TYPE OF ADOVJSTMENT: Supplemental Request
<br />PURPOSE OF REQUEST: To appropriate funds for a new Scholastic Crime Stoppers
<br />program funded by the Governor's Crime Commission through its Scholastic
<br />Crime Stoppers 2003 Development Fund. This program is being established for
<br />the Cabarrus County School System and the funds will be used for promotional
<br />materials, printing, etc., but will not be used for rewards. The expenses
<br />associated with this program are 100% reimbursable.
<br />
<br /> Present
<br /> Account No. Approved Budget Increase
<br />00162110-6356 $0.00 $4,000.00
<br />Scholastic Crime Stoppers Grant Revenue
<br />00192110-9341 $0.00 $4,000.00
<br /> Scholastic Crime Stoppers Grant Expense
<br />
<br />Decrease
<br />
<br />Revised Budqet
<br />
<br />$4,000.00
<br />
<br />$4,000.00
<br />
<br />(F-10) Resolution Providing for the Issuance of Up to $40 Million General
<br />Obligation Refunding Bonds, Series 2004
<br />
<br /> Cabarrus County is in a position to refinance the 1997 General
<br />Obligation (GO) Bonds to take advantage of lower interest rates. These are
<br />the last GO Bonds to be refunded under the Bond Order that was approved on
<br />July 21, 2003.
<br />
<br /> Commissioner Privette introduced the following resolution, a summary of
<br />which had been provided to each Commissioner, a copy of which was available
<br />with the Clerk to the Board and which was read by title:
<br /> Resolution No. 2004-10
<br />
<br /> RESOLUTION PROVIDING FOR THE ISSUANCE OF UP TO
<br /> $40,000,000 GENERAL OBLIGATION REFUNDING BONDS,
<br /> SERIES 2004
<br />
<br /> BE IT RESOLVED by the Board of Commissioners of the County of Cabarrus,
<br />North Carolina (the "Issuer"):
<br /> Section 1. The Board has determined and does hereby find, declare and
<br />represent:
<br /> (a) That an order (the "Refunding Bond Order") authorizing
<br />$69,610,000 Refunding Bonds was adopted by the Board on July 21, 2003, which
<br />order has taken effect.
<br /> (b) That $17,490,000 of said Refunding Bonds, designated ~General
<br />Obligation Refunding Bonds, Series 2003," the proceeds of which were used to
<br />refund the Issuer's outstanding Water Bonds, Series 1992, dated April 1, 1992
<br />and Refunding Bonds, Series 1993, dated November 1, 1993, have been issued,
<br />that no notes have been issued in anticipation of the receipt of the proceeds
<br />of the sale of any of the Refunding Bonds and that it is necessary at this
<br />time to issue a portion of said Refunding Bonds and to use the proceeds
<br />thereof, together with any other funds necessary, to advance refund all or a
<br />portion of each maturity of the Issuer's outstanding School Bonds, Series
<br />1997, dated February 1, 1997 (the "Bonds To Be Refunded").
<br /> (c) That the prospective Bonds To Be Refunded financed, together with
<br />any other funds necessary, various public school facilities of the Issuer.
<br />
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