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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />• P.M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Finance - Forest Park Elementary Deed Transfer to Kannapolis City <br />Schools <br />BRIEF SUMMARY: <br />Forest Park Elementary School was built and financed with general <br />obligation and state bonds in 1998. A new wing addition was built and <br />financed with general obligation bonds in 2006. The title to the Forest <br />Park Elementary School property was held in the County's name to allow <br />reimbursement of sales tax paid on the construction projects. Since <br />construction has now been completed, it has been requested to transfer <br />the title of Forest Park Elementary School to the Kannapolis City Schools <br />Board of Education. The special warranty deed has been prepared by the <br />attorney for Kannapolis City Schools Board of Education, reviewed our <br />County Attorney and enclosed. <br />REQUESTED ACTION: <br />Motion to approve the deed transfer of the Forest Park Elementary School <br />property to the Kannapolis City Schools Board of Education and authorize <br />the Chairman to sign the deed on behalf of the County. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Susan Fearrington, Assistant Finance Director <br />BUDGET AMENDMENT REQUIRED: <br />No <br />F -7 Page 376 <br />