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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />r <br />NOVEMBER 18, 2013 <br />1 P.M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />County Manager - CCS QSCB - Use of Sales Tax Proceeds for Parking <br />Lot Repair at Northwest High School Gymnasium <br />BRIEF SUMMARY: <br />Cabarrus County has a practice of using the sales taxes from <br />expenditures in the construction funds to pay down debt service at the <br />end of the construction phase. With Qualified School Construction Bonds <br />(QSCB) funds, all proceeds must be spent on defined projects, per bond <br />counsel. Cabarrus County Schools (CCS) has approximately $83,917 in <br />sales tax monies which they would like to apply towards repairing the <br />parking lot at the construction site of the Northwest High School <br />Gymnasium. The request has been reviewed by Steve Cordell, Cabarrus <br />County bond counsel, and qualifies as an approved project. No budget <br />revision will be necessary to accomplish this request. <br />CCS may have approximately $25,122 in contingency funds available to <br />be added to the $83,917 which totals $109,039. The bid for a portion of <br />the surface area cost $77,000 and includes unit cost to add more square <br />footage of repairing, if funds exist. This will allow the balance of $32,039 <br />or a portion thereof to be used to expand the repairs of the balance of the <br />parking lot. <br />REQUESTED ACTION: <br />Motion to approve the use of sales tax proceeds for repairing the <br />Northwest High School Gymnasium parking lot. <br />EXPECTED LENGTH OF PRESENTATION: <br />F -1 Page 59 <br />