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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />AUGUST 17, 2009 <br />6:30 P.M. <br />AGENDA CATEGORY: <br />Consent Agenda <br />SUBJECT: <br />Finance - Approval of Project Applications for Potential Debt <br />Issuance via Qualified School Construction Bonds (QSCB's) for Cabarrus <br />County and Kannapolis City Schools <br />BRIEF SUMMARY: <br />Thee QSCB's (Qualified School Construction Bonds) program was <br />established as part of the American Recovery and Reinvestment Act of <br />2009. This funding mechanism offers interest-free financing for eligible <br />school construction projects. Both school districts have prepared <br />applications for qualified projects and seek approval of the financings from <br />the County Board of Commissioners. <br />REQUESTED ACTION: <br />Motion to authorize the Chairman to execute applications for QSCB's <br />(Qualified School Construction Bonds) for Cabarrus County Schools and <br />Kannapolis City Schools. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Pamela S. Dubois, Deputy County Manager <br />Representative from Both School Districts <br />Page 127 of 315 <br />F-7 <br />