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CABARRUS COUNTY BOARD OF COMMISSIONERS AGENDA ITEM REQUEST Meeting Date 10/15/07 Agenda Item # ~_ SUBJECT: Certificates of Participation (COPS) -Cox Mill High School Project, Partial Funding of Critical Need School Projects & Housing Unit for Law Enforcement Complex BRIEF SUMMARY: On 6-18-07, the BOC approved the use of COPS for financing the Cox Mill High School project and tabled consideration of financing portions of the 5-year critical needs school construction projects. Also, in the event Concord receives a favorable outcome from the NC Court of Appeals for the Jail Conditional Use Permit, including the Housing Unit in the Financing Resolution with Cox Mill High School now, will reduce the total financing schedule by two months time. It will also save adminstrative time and cost. Until the Board approves the final Resolution for each project, no monies will be borrowed. REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) Approve budget amendments for Cox Mill High School plus critical need projects; adopt Financing resolution including authorization for the County Manager and the Deputy County Manager to proceed with the necessary steps required by the Local Government Commission to issue Certificates of Participation financing up to $145,000,000 for the Cox Mill High School project (inclusive of other approved costs for critical need school projects) and the Housing Unit; and schedule a public hearing for November 19, 2007. Attachments ^X Yes ^ No Expected Length of Presentation 5 Minutes Submitted By: Pamela S. DuboislDeputy County Manager Date: 9/26/07 Name /Job Title Budget Amendment Required: 0 Yes ^ No Budget Amendment Attached and Reviewed by Budget Officer: ^X Yes ^ No County Manager's RecommendationslComments: This item was approved by the Board for inclusion on the Agenda as a New Business item. Action Taken: Approved [ ] Deferred [ ] Denied [ ] Other [ ] 4