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UPDATED <br />CABARRUS COUNTY <br />BOARD OF • • <br />* <br />REGULAR <br />' ThC CAR''�f } + � 1 JULY 18 1 <br />1 <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Sheriff's Office - E -911 Equipment Upgrade Lease <br />BRIEF SUMMARY: <br />Upgrades to the Enhanced 911 equipment are required to <br />adequately maintain E -911 services and provide use of Next Generation <br />911 services to County, City and Regional E -911 operations. The system <br />upgrade will be purchased from Intrado (WEST). The County has secured <br />financing with BB &T Governmental Finance. The upgrade will be financed <br />at the cost of $283,642.15 at a 1.77% interest rate. Principal and interest <br />payments will be paid semi - annually and will begin January 2017 and will <br />end July 2021. <br />REQUESTED ACTION: <br />Motion to approve a Resolution Approving Financing Terms for a five -year <br />financing agreement with BB &T Governmental Finance and the related <br />budget amendment, and authorize the County Manager to execute the <br />financing agreement on behalf of Cabarrus County, subject to review or <br />revisions by the County Attorney. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Susan Fearrington, Finance Director <br />BUDGET AMENDMENT REQUIRED: <br />Yes <br />F -7 Page 81 <br />