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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br />Meeting Date 7/23/07 <br />Agenda Item # G -5 <br />SUBJECT: <br />Installment Financing Bank Bids for High School Facilities <br />BRIEF SUMMARY: <br />As directed by the Board, staff solicited proposals for the financing of the High School <br />Facilities. The bids were received and tabulated on July 16, 2007. The low bidder was <br />Bank of America. A bid tabulation sheet is included as well as a budget amendment for <br />the interest payment scheduled for February 1, 2008. <br />REQUESTED ACTION: (Suggested motion it the Board approves the agenda item as presented) <br />1. Adopt the resolution for the Installment Contract Financing for the High School Facilites <br />in the aggregate principal amount of $7,305,000. <br />2. Adopt the budget amendment. <br />Attachments ^X Yes ^ No Expected Length of Presentation 5 Minutes <br />Submitted By: Pamela S. Dubois, Deputy County Manager Date: 6/27/07 <br />Name /Job Title <br />Budget Amendment Required: ^X Yes ^ No <br />Budget Amendment Attached and Reviewed by Budget Officer: ^D Yes ^ No <br />County Manager's Recommendations/Comments: <br />This item was approved by the Board for inclusion on the Agenda as a New Business item. <br />Action Taken: <br />Approved [ ] Deferred [ ] <br />Denied [ ] Other [ ] <br />5 <br />