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RESOLUTION AUTHORIZING AUCTION SALE <br />OF THE OLD BETHEL SCHOOL PROPERTY <br />WHEREAS, Cabarrus County is the owner of parcels of land known as the Old Bethel School <br />Property on Highway 24 -27 (the "Property"), as indicated on the attached Exhibit A, which Property is <br />surplus to its needs; and <br />WHEREAS, North Carolina General Statutes § 160A -268 permits the County to sell real property <br />by advertisement and sealed bid. <br />THE BOARD OF COMMISSIONERS OF CABARRUS COUNTY RESOLVES THAT: <br />1. The Board of Commissioners hereby authorizes the sale by sealed bid of the Property <br />indicated on Exhibit A. <br />2. The County will accept sealed bids for the Property until 3:00 p.m., Thursday, September <br />30, 2010. Bids shall be delivered to the office of John D. Day, County Manager, Second Floor, Cabatrus <br />County Governmental Center, 65 Church Street, Concord, North Carolina. <br />3. At 3:00 p.m. on Thursday, September 30, 2010, all bids received shall be opened in public <br />and the amount of each bid recorded. The record of bids shall be reported to the Board of Commissioners at <br />their work session meeting on Monday, October 4, 2010. <br />4. The Board of Commissioners will determine the highest responsible bidder for the Property <br />and will award the bid by its regular meeting on October 18, 2010. Bids will remain open and subject to <br />acceptance until the Board of Commissioners awards the bid. <br />5. To be responsible a bid must be no less that $200,000.00 and must be accompanied by a bid <br />deposit of five percent (5 %) of the amount of the bid. A bid deposit may take the form of cash, a cashier's <br />check, a certified check, or a surety bond. The deposit of the bidder to whom the award is made will be held <br />until sale of the Property is closed; if that bidder refuses at any time to close the sale, the deposit will be <br />forfeited to the County. The deposits of other bidders will be returned at the time the Board of <br />Commissioners awards the Property to the highest responsible bidder. <br />6. In addition, to be responsible, a bidder must be current on payment of all property taxes <br />owed to the County. <br />to reject all bids. <br />The County reserves the right to withdraw the Property from sale at any time and the right <br />8. The Property will be sold "as is, where is ". <br />Adopted: August , 2010. <br />ATTEST: <br />G. Kay Honeycutt, Clerk to the Board <br />CABARRUSCOUNTY <br />BOARD OF COMMISSIONERS <br />mm <br />H. Jay White, Sr., Chair <br />Attachment number 1 <br />F -1 Page 31 <br />