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RESOLUTION AUTHORIZING AUCTION SALE OF THE OLD BETHEL SCHOOL PROPERTY Resolution No. 2012 -09 WHEREAS, Cabarrus County is the owner of parcels of land known as the Old Bethel School Property on Highway 24 -27 (the "Property"), as indicated on the attached Exhibit A, which Property is surplus to its needs; and WHEREAS, N.C. Gen. Stat. § 160A -268 permits the County to sell real property by advertisement and sealed bid. THE BOARD OF COMMISSIONERS OF CABARRUS COUNTY RESOLVES THAT: 1. The Board of Commissioners hereby authorizes the sale by sealed bid of the Property indicated on Exhibit A. 2. The County will accept sealed bids for the Property until noon, Friday, June 29, 2012. Bids shall be delivered to the office of Mike Downs, County Manager, Second Floor, Cabarrus County Governmental Center, 65 Church Street, Concord, North Carolina. 3. At noon on Friday, June 29, 2012, all bids received shall be opened in public and the amount of each bid recorded. The record of bids shall be reported to the Board of Commissioners at their work session meeting on Monday, July 2, 2012. 4. The Board of Commissioners will determine the highest responsible bidder for the Property and may award the bid by its regular meeting on July 16, 2012. Bids will remain open and subject to acceptance until the Board of Commissioners awards the bid. 5. To be responsible a bid must be in an amount of not less than $10,000.00 and must be accompanied by a bid deposit of five percent (5 %) of the amount of the bid. A bid deposit may take the form of cash, a cashier's check, a certified check, or a surety bond. The deposit of the bidder to whom the award is made will be held until sale of the Property is closed; if that bidder refuses at any time to close the sale, the deposit will be forfeited to the County. The deposits of other bidders will be returned at the time the Board of Commissioners awards the Property to the highest responsible bidder. 6. In addition, to be responsible, a bidder must be current on payment of all property taxes owed to the County. 7. The County reserves the right to withdraw the Property from sale at any time and the right to reject all bids. The County may also elect to treat the highest responsible bidder as an offer to purchase the Property and advertise the Property for upset bids, pursuant to N.C. Gen. Stat. § 160A -269. 8. The Property will be sold "as is, where is ". Adopted: May 24, 2012. CABARRUSCOUNTY ATTEST: BOARD OF COMMISSIONERS BY: 0 ,,� Ae2 , 4 -- Ka Honey tt, lerk the Board E 6abeth F. Poole, Chair Attachment number 1 E -1 Page 27