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CABARRUS COUNTY <br />r <br />BOARD COMMISSIONERS <br />REGULAR MEETING <br />#C 1' to <br />MAY 19 2014 <br />m <br />AGENDA CATEGORY: <br />New Business <br />SUBJECT: <br />Finance - Resolution Approving Filing of an Application with the LGC and <br />Authorizing the Publication of the Notice of Intent to File <br />BRIEF SUMMARY: <br />Staff requests the Board's approval to proceed by filing the application <br />with the Local Government Commission (LGC) for school and community <br />college bonds and to authorize the publication of the Notice of Intent to <br />File, making the required findings and reimbursement resolutions. <br />The Cabarrus County Schools (CCS) and Kannapolis City Schools (KCS) <br />Boards of Education along with Rowan - Cabarrus Community College <br />(RCCC) have submitted requests for a bond referendum in order to meet <br />their capital needs. The Board has previously approved the following <br />projects and amounts for the ballot in November, 2014 for voters to <br />approve or disapprove: <br />Kannapolis Middle School $23,000,000 * ** <br />Royal Oaks Elementary School$11,000,000 <br />Total School projects $34,000,000 <br />RCCC - Advanced Technology Center $9,000,000 <br />* ** Kannapolis City Schools has until May 31, 2014 to withdraw their <br />request for inclusion on the bond referendum. Should they decide to <br />withdraw, only the Royal Oaks project at $11,000,000 and the RCCC <br />project in the amount of $9,000,000 will be included on the ballot. <br />The total amount of bonds on the resolution will be $43,000,000 if <br />Kannapolis City Schools remains on the bond referendum and <br />G -5 Page 209 <br />