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CABARRUS COUNTY <br />BOARD OF • • <br />* <br />REGULAR <br />¢ TN eAR° �jr MAY 16 20 <br />� / <br />1 P .M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Finance - Kannapolis Middle School Lease Agreement <br />BRIEF SUMMARY: <br />As part of the 2016 Limited Obligation Bonds issued on March 31, 2016, a <br />portion of the project has to be pledged as collateral for the debt. The <br />Kannapolis Middle School site was chosen since it represents 42% of the <br />project. A lease agreement back to Kannapolis City Schools for the <br />Kannapolis Middle School site is needed. The County Attorney has <br />prepared the enclosed Kannapolis Middle School Lease agreement. <br />REQUESTED ACTION: <br />Motion to approve the Cabarrus County Lease agreement for the <br />Kannapolis Middle School site and authorize the Chairman to execute the <br />lease on behalf of the County. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Pamela Dubois, Senior Deputy County Manager <br />BUDGET AMENDMENT REQUIRED: <br />No <br />COUNTY MANAGER'S RECOMMENDATIONS /COMMENTS: <br />This item was approved by the Board for inclusion on the Agenda as a <br />Consent item. <br />F -3 Page 57 <br />