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CABARRUS COUNTY <br />~ 1792 ~ t"~`=~ <br />~~' s~,~ BOARD OF COMMISSIONERS <br />v 9~`'~:. <br />REGULAR MEETING <br />~.:,N _cAR . JUNE 15, 2009 <br />6:30 P.M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Emergency Management -Odell Volunteer Fire & Rescue, Inc. Financing <br />for New Station <br />BRIEF SUMMARY: <br />Odell Volunteer Fire & Rescue, Inc. will finance an amount of up to <br />$2,000,000 with BB&T for the construction of a new fire station. The <br />United States Revenue Code requires that for such financing to be carried <br />out on atax-exempt basis, the Cabarrus County Board of Commissioners <br />must approve the financing by adopting the attached resolution. Odell <br />VF&R, Inc. has held a public hearing on the financing, as required by the <br />Code. Attached is a report of the proceedings of the hearing. <br />REQUESTED ACTION: <br />Motion to adopt resolution. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Steven M. Langer, Cabarrus County Fire Marshall <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 />Consent item. Approval is recommended. <br />F-2 <br />