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November 18, 2013 (Regular Meeting) Page 1819 As of September 2013, the QSCB fund has earned $12,298.00 in interest. interest can only be spent on the defined projects listed to the state in the initial application, per bond counsel. Last month, the balance of Kannapolis City Schools funds was approved for the purchase of a generator for Kannapolis Intermediate School (CIS). The balance of the funds needed for the purchase was provided by the County's fund balance in the amount of $38,138.00. A request is being made to allocate the interest earnings to the KIS generator purchase and to reduce the County's fund balance contribution, respectively. Interest will continue to be earned until all the funds are expended. A final adjustment between fund balance appropriated and interest earnings will need to be made at the close of the fund. UPON MOTION of Vice Chairman Measmer, seconded by Commissioner Morris and unanimously carried, the Board adopted the budget amendment and permitted a final adjustment to the fund balance appropriation based on the final interest earnings figure upon closing of the fund. Date:11/18/2013 Amount:$12,298.00 Dept. Head: Pamela S. Dubois, Deputy County Manager Department: Finance ❑ Internal Transfer Within Department J Transfer Between Departments /Funds © supplemental Request Purpose: To utilize the interest earnings to reduce the County's fund balance contribution of $38,138 of fund balance to purchase an emergency generator for Kannapolis Intermediate School in order to allow for occupancy in the building past dusk based on a Kannapolis Fire Department Inspection. Account Number Account Name Approved Budget Inc Amount Dec Amount Revised Budget 36760000 -6902 Cont. from General Fd $38,138.00 $12,298.00 $25,840.010 36760000 -6701 Interest Earnings $0.00 $12,298.00 $12,298.00 00167230 -6901 Fund Balance Appropria $412,770.00 $12,296.00 $400,472.00 00197230- 9708 -QSCB Cont. to Capital Proj. $38,139.ocl $12,298.001 $25,840.00 (F -4) County Manager - Resolution Supporting an Abandonment from the NCDOT Maintenance System The North Carolina Department of Transportation (NCDOT), Division 10, has requested a resolution from the Board of Commissioners supporting the abandonment of a road segment from the NCDOT secondary road maintenance system. Part of the parking lot of the former Bethel Elementary School was included on the maintenance program and it is no longer eligible since it is not operated as a public school. The current property owner has been contacted but has not provided any input. UPON MOTION of Vice Chairman Measmer, seconded by Commissioner Morris and unanimously carried, the Board adopted the following resolution: Resolution No. 2013 -22 RESOLUTION EXPRESSING SUPPORT FOR THE CLOSURE OF STATE ROAD 1124 AN AREA OF THE FORMER BETHEL ELEMENTARY SCHOOL WHEREAS, North Carolina State Road 1124 (Bethel School Drive) in Cabarrus County is part of the former Bethel Elementary School property, being a paved road wholly within the paved parking lot of that site; and WHEREAS, the Cabarrus County Board of Commissioners is supportive of the abandonment of State maintenance for this area; and WHEREAS, the North Carolina Department of Transportation (NCDOT) has requested that Board of Commissioners consider this action and provide a resolution of support; and WHEREAS, the Cabarrus County Board of Commissioners, at their regular meeting on November 18, 2013 considered this action; NOW THEREFORE, BE IT RESOLVED that the Cabarrus County Board of Commissioners express their support for the abandonment of public maintenance of S.R. 1124 (Bethel School Drive). Adopted this 18 day of November, 2013. /s/ Elizabeth F. Poole Elizabeth F. Poole, Chairman Cabarrus County Board of Commissioners