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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br />Meeting Date 3/26/07 .Agenda Item # ~- <br />SUBJECT: <br />Reports -Latest Bond Rating Plus Results, Overall Rate for COPS 2007 Issue, and the <br />Renegotiation of Installment Financing Contract with First Charter Bank <br />BRIEF SUMMARY: <br />Cabarrus County recently issued $33,595,000 in COPS for the construction of the <br />Sherriffs Administration Offices. As with each debt issued, the County is evaluated by the <br />rating agencies based on information provided by the County such as the most recent <br />audit report and other statistical data. The reports are attached for your review. Also <br />attached is a memo disclosing the interest rates received on the COPS issues and the <br />renegotiation of the First Charter Installment Financing. <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br />None required. <br />Attachments <br />^X Yes ^ No <br />Expected Length of Presentation 5 minutes <br />Submitted By: Pamela S. Dubois, Deputy County Manager Date: 3/19/07 <br />Name /Job Title <br />Budget Amendment Required: ^ Yes ^X No <br />Budget Amendment Attached and Reviewed by Budget Officer: ^ Yes ~ Nc <br />County Manager's Recommendations/Comments: <br />None. <br />Action Taken: <br />Approved [ ] Deferred [ ] <br />Denied [ ] Other [ ] <br />~- <br />