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<br /> <br />November 15, 2004 <br /> <br />Page <br /> <br />680 <br /> <br />EXHIBIT B <br /> <br />RESULT OF REFERENDUM ON $3,100,000 <br />CABARRUS COUNTY GENERAL OBLIGATION COMMUNITY COLLEGE BONDS <br /> <br />The result of the referendum held on November 2, 2004 in Cabarrus <br />County, North Carolina (the UCounty") on the issuance by the County of <br />general obligation school bonds in an aggregate principal amount not to <br />exceed $3,100,000 for the purpose of providing funds, with any other <br />available funds, for erecting an additional educational building and related <br />improvements for Rowan-Cabarrus Community College and acquiring furnishings <br />and equipment therefor, including computers, was 32,220 votes UFor" approval <br />of the Bond Order and 21,316 votes UAgainst" approval of the Bond Order <br />adopted by the Board of said County with respect to such community college <br />bonds. <br />Any action or proceeding challenging the regularity or validity of this <br />bond referendum must be begun within 30 days aft~r November'__, 2004. <br /> <br />CABARRUS COUNTY BOARD OF COMMISSIONERS <br /> <br />[Insert date of publication] <br /> <br />Pam Dubois, Deputy County Manager, responded to questions regarding the <br />schedule for the issuance of the bonds. She reported the Cabarrus County <br />School system is working on its schedule for constructing new schools and the <br />Kannapolis Board of Education has requested all of its funding in the first <br />bond issuance. <br /> <br />Mr. Day explained that a third party underwriter would not be required <br />for the issuance of the bonds as the Local Government Commission issues <br />general obligation bonds. <br /> <br />(G-4) Purchase of Two School Buses <br /> <br />Commissioner Carpenter reported funds in the amount of $124,000.00 were <br />available to purchase two school buses to transport the growing number of <br />school children. The funding is due to a decrease in the Corning incentive <br />grant as the plant is mothballed at this time and its value reduced. <br />Further, she stressed that one of the buses should go to the Mt. Pleasant <br />Elementary School. <br /> <br />UPON MOTION of Commissioner Carpenter, seconded by Commissioner <br />Privette and unanimously carried, the Board adopted the following budget <br />amendment appropriating funds for the purchase of two school buses. <br /> <br />BUDGET REVISION/AMENDMENT REQUEST <br /> <br />DEPARTMENT OF FINANCE <br />AMOUNT: $124,000.00 <br />TYPE OF ADJUSTMENT: Transfer Between Function/Funds <br />PURPOSE OF REQUEST: A request has been made for the Board of Commissioners <br />to approve the funding of two school buses for Cabarrus County Schools <br />costing $124,000.00. Excess funds from the Corning Incentive Grant will be <br />used to fund this appropriation. <br /> <br />Present <br />Account No. Approved Budget <br />00197210-9701 $1,288,761.00 <br />Capital Outlay - Cabarrus County <br />00193320-9762 $1,751,960.00 <br />Corning Incentive Grant <br /> <br />Decrease <br /> <br />Revised Budget <br />$1,412,761.00 <br /> <br />Increase <br />$124,000.00 <br />Schools <br /> <br />$124,000.00 <br /> <br />$1,627,960.00 <br /> <br />Liz Poole, Chair of the Cabarrus County Board of Education, responded <br />to questions regarding the need for additional school buses. <br /> <br />(H) APPOINTMENTS TO BOARDS AND COMMITTEES <br /> <br />(H-1) <br /> <br />Juvenile Crime Prevention Council <br /> <br />John Lewi s , <br />Juvenile Crime <br />recommended the <br />position. <br /> <br />who held the Juvenile Defense <br />Prevention Council (JCPC), has <br />appointment of Attorney Scott <br /> <br />Attorney position on <br />resigned. The JCPC <br />C. Robertson to fill <br /> <br />the <br />has <br />this <br /> <br />UPON MOTION of Commissioner Carpenter, seconded by Chairman Freeman and <br />unanimously carried, the Board appointed Scott C. Robertson to the Juvenile <br />Crime Prevention Council to complete an unexpired term ending June 30, 2005. <br />