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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br />Meeting Date 12/17/07 <br />Agenda Item # ~ •5 <br />SUBJECT: <br />Resolution Approving Installment Contract Financing for Public School Projects in an <br />Aggregate Principal Amount up to $63,000,000 <br />BRIEF SUMMARY: <br />The Board of County Commissioners approved the issuance of Certificates of Participation <br />(COPS) for the funding of Public School Projects in October 2007 and held a Public <br />Hearing on this issue in November 2007. The next required step in the financing is the <br />approval of the attached resolution approving the Installment Contract Financing in an <br />amount not to exceed $63,000,000. The COPS are scheduled for issuance in January <br />subject to approval by the Local Government Commission. <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br />Motion to adopt the attached resolution approving installment contract financing for public <br />school projects in an aggregate principal amount up to $63,000,000 and the execution and <br />delivery by the Cabarrus County Development Corporation of Certificates of Participation <br />related thereto, authorizing the execution and delivery of related documents in connection <br />therewith, and providing for certain other related matters. <br />Attachments ^X Yes ^ No Expected Length of Presentation <br />Submitted By: Pamela S. Dubois, Deputy County Manager Date: 11/29/07 <br />Name /Job Title <br />Budget Amendment Required: ^ Yes ^X No <br />Budget Amendment Attached and Reviewed by Budget Officer: ^ Yes ^X No <br />County Manager's Recommendations/Comments: <br />This item was approved by the Board for inclusion on the Agenda as a Consent item. <br />Approval is recommended. <br />-- - - - -- <br />Action Taken: <br />Approved [ ] Deferred [ ] <br />Denied [ ] Other [ ] <br />G•5 <br />