BC 2004 06 14 RECESSED - Laserfiche WebLink

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June 14, 2004 Page 498 Total: 1,343,520.00 **Delay Purchase of Voting Equipment to FY 2006 Budget Vice Chairman Suggs stated for the record that in his opinion the City of Concord should contribute to the cost of the new Jail since the new facility will remain in downtown Concord. Mr. Day advised that, with Commissioner Carpenter's proposed cuts, another $2.6 million would need to be cut from the budget to get the tax rate to 53 cents. He recommended that fund balance not be used as this would reduce the fund balance below the County's policy of 15 percent and could endanger the County's bond rating. Mr. Day reported on the possible opportunity to restructure County debt by changing the County's loans from fixed rate to variable rate and getting enough money up-front to balance the budget. However, information about the proposed debt restructuring will not be available until Tuesday morning. There was discussion regarding the revenue anticipated from the revaluation, a reduction in the tax rate, the use of fund. balance, the importance of maintaining the County's bond rating and the need for information about the cost of the proposed restructuring of debt. Commissioner Carpenter made a motion, seconded by Commissioner Privette, to approve in principle the fire district tax rates as recommended by the fire district board of directors for each district with the exception of the Midland Fire District. By a straw vote, the Board unanimously approved the motion. Vice Chairman Suggs made a motion, seconded by Commissioner Privette, to agree in principle to a tax rate of 53 cents with none of the cuts proposed by the County Manager and to make up the difference in revenue by restructuring the County's debt; and if the restructuring of debt does not provide sufficient funds, to implement the cuts proposed by Commissioner Carpenter. By a straw vote, the motion was approved with Vice Chairman Suggs, Chairman Freeman and Commissioner Privette voting for and Commissioners Carpenter and Carruth voting against. UPON MOTION of Commissioner Carruth, seconded by Commissioner Privette and unanimously carried, the Board agreed it would not enact any of the employee cuts proposed by the County Manager to reduce the tax rate. Closed Session UPON MOTION of Commissioner Carruth, seconded by Commissioner Privette and unanimously carried, the Board moved to go into Closed Session to consult with the County Attorney to preserve the attorney-client privilege as authorized by North Carolina General Statute 143-318.11(a) (3) and to invite Mike Downs, Deputy County Manager, to join the Board in Closed Session. UPON MOTION of Commissioner Privette, seconded by Commissioner Carpenter with Commissioners Privette and Carpenter, Vice Chairman Suggs and Chairman Freeman voting for, the Board moved to come out of the Closed Session. Commissioner Carruth was excused at 9:34 p.m. during the Closed Session. No action was taken following the Closed Session. Adjournment UPON MOTION of Commissioner Carpenter, seconded by Vice Chairman Suggs with Commissioners Carpenter and Privette, Vice Chairman Suggs and Chairman Freeman voting for, the meeting was adjourned at 10:15 p.m. Clerk to the Board