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A <br />■R► Cabarrus <br />ANounty£ Schools <br />Memo to: Board of Education <br />From: Kelly H. Kluttz, CPA <br />Date: November 12, 2013 <br />Subject: QSCB Sales Tax Refund <br />Upon the County's consultation with their Bond Counsel, it was determined that <br />$83,917 of Contractor Sales tax from the QSCB projects cannot be used for the <br />original intended purpose of paying debt service on the QSCB's. The Cabarrus <br />County Schools intend to use the $83,917 to repair the parking lot at Northwest <br />High Gymnasium. The parking lot was damaged during the construction phase <br />of the Gym renovations. Per Steve Cordell, the County's Bond Counsel, this <br />parking lot project qualifies as a QSCB project. <br />PDFConvert.7922.1.October_QSCB_ memo sales tax funds.doc03.09.09 <br />Attachment number 1 <br />F -1 Page 61 <br />