Laserfiche WebLink
RESOLUTION REQUESTING AUTHORITY TO ISSUE <br />QUALIFIED SCHOOL CONSTRUCITON BONDS <br />WHEREAS, through the American Recovery and Reinvestment Act of 2009 (ARRA) the United <br />States Congress authorized the issuance of Qualified School Construction Bonds (QSCB), where <br />qualifying school districts could issue interest free bonds to be used for the construction, rehabilitation, or <br />repair of a public school facility, or for the acquisition of land on which such a facility is to be constructed; <br />and <br />WHEREAS, the State of North Carolina has been allocated, through ARRA, funds for calendar <br />year 2009 for Qualified School Construction Bonds; and <br />WHEREAS, the North Carolina Department of Public Instruction (NCDPI) is responsible for <br />allocating the authority to issue Qualified School Construction Bonds among eligible schools in the State <br />of North Carolina applying for such authority; and <br />WHEREAS, the Board of Education (the "Board") of Kannapolis City Schools (the "District"} has <br />determined that Kannapolis Intermediate School renovation ("Project") meets the QSCB criteria and <br />desires to apply to the NCDPI for the authority to issue Qualified School Construction Bonds. <br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF EDUCATION OF THE KANNAPOLIS <br />CITY SCHOOL DISTRICT: <br />SECTION 1. That this Board hereby authorizes the Superintendent to make application to the <br />NCDPI for authorization to issue Qualified School Construction Bonds in the amount of $1,405,434.99, <br />understanding that such application in no way commits the District to issue such bonds. <br />SECTION 2. That this Board further authorizes and directs the Superintendent to take any and <br />all actions which may be necessary to issue Qualified School Construction Bonds as authorized by the <br />NCDPI, and to make certain funds are provided in a timely manner to assist in the renovation/construction <br />of the Project. <br />SECTION 3. That the Superintendent is hereby directed to forward a certified copy of this <br />resolution to the NCDPI. <br />SECTION 4. That it is found and determined that all formal actions of this Board concerning and <br />relating to the adoption of this resolution were adopted in an open meeting of this Board; and that all <br />deliberations of this Board and of any of its committees that resulted in such formal action, were in <br />meetings open to the public, incompliance with all legal requirements. <br />,,~~ ~t,y~ ~.fiCl~GLGO~j C C-~ <br />Danita B. Rickard, Chairperson Jo nne A. Byerly, Superintend <br />Kannapolis City Board of Education nnapolis City Schools <br />0 04 7 z~ a~ <br />ate D e <br />Attachment number 2 <br />Page 146 of 315 <br />F-7 <br />