AG 2010 05 17 - Laserfiche WebLink

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RESOLUTION REQUESTING AUTHORITY TO ISSUE QUALIFIED SCHOOL CONSTRUCTION BONDS WHEREAS, through the American Recovery and Reinvestment Act of 2009 (AARA) the United States Congress authorized the issuance of Qualified School Construction Bonds (QSCB), where qualifying school districts could issue interest free bonds to be used for the construction, rehabilitation, or repair of a public school facility, or for the acquisition of land on which such a facility is to be constructed; and WHEREAS, the State of North Carolina has been allocated, through ARRA, funds for calendar year 2010 for Qualified School Construction Bonds; and WHEREAS, the North Carolina Department of Public Instruction (NCDPI) is responsible for allocating the authority to issue Qualified School Construction Bonds among eligible schools in the State of North Carolina applying for such authority; and WHEREAS, .the Board of Education (the "Board's of Kannapolis City Schools (the "District's has determined that Kannapolis Intermediate School renovation ("Project's meets the QSCB criteria and desires to apply to the NCDPI for the authority to issue Qualified School Construction Bonds. NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF .EDUCATION OF THE KANNAPOLIS CITY SCHOOL DISTRICT: SECTION 1. That this Board hereby authorizes the Superintendent to make application to the NCDPI for authorization to issue Qualified School Construction Bonds in the amount of $2,700,000 at Kannapolis Intermediate School, understanding that such application in no way commits the District to issue such bonds. SECTION 2. That this Board further authorizes and directs the Superintendent to take any and all actions which may be necessary to issue Qualified School Construction Bonds as authorized by the NCDPI, and to make certain funds are provided in a timely manner to assist in the renovation/construction of the Project. SECTION 3. That the Superintendent is hereby directed to forward a certified copy of this resolution to NCDPI. SECTION 4. That it is found and determined that all formal actions of this Board concerning and relating to the adoption of this resolution were adopted in an open meeting of this Board; and that all deliberations of this Board and of any of its committees that resulted in such formal action, were in meetings open to the public, in compliance with all legal requirements. Danita B. Rickard, Chairperson Kannapolis City Board of Education v G~ ~ . o ne A. Byerly, Superinte d nt napolis City Schools -I~- Date ~ ~ ~~ ate G-3 Page 98