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CABARRUS COUNTY <br />BOARD OF • • <br />* <br />REGULAR MEETING <br />OCTOBER 17, 2011 <br />`�iri�JJ1 /J� <br />1 <br />AGENDA CATEGORY: <br />New Business <br />SUBJECT: <br />CCS - Cabarrus County School's Request for Use of QSCB Contractor <br />Sales Tax <br />BRIEF SUMMARY: <br />Due to rising construction costs <br />(QSCB) projects, the Cabarrus <br />contractor sales tax currently se t <br />offset project cost increases. <br />REQUESTED ACTION: <br />on Qualified School Construction Bond <br />County School Board is requesting <br />aside to pay debt service be used to <br />Motion to consider approval of the Cabarrus County School Board request <br />that contractor sales tax be used to offset cost increases on QSCB <br />projects instead of being used to pay debt service payments on the QSCB <br />outstanding debt. Motion to authorize Finance to prepare a subsequent <br />budget amendment if the request is granted. <br />EXPECTED LENGTH OF PRESENTATION: <br />5 Minutes <br />SUBMITTED BY: <br />Kelly Kluttz, Cabarrus County School Finance Director <br />BUDGET AMENDMENT REQUIRED: <br />No <br />COUNTY MANAGER'S RECOMMENDATIONS /COMMENTS: <br />This item was approved by the Board for inclusion on the Agenda as a <br />G -1 Page 104 <br />