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<br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Meeting Date 5/15/06 <br /> <br />Agenda Item # ~E-I <br /> <br />SUBJECT: <br />Approval of Resolution Authorizing the Filing of an Application for approval of a financing <br />agreement authorized by North Carolina General Statute 160A-20 <br /> <br />BRIEF SUMMARY: <br /> <br />The Board established the use of certificates of participation as the financing method for <br />the Sheriff's Office and Detention Center project in the capital improvement <br />programs (CIP) in the 2005 and 2006 budgets. The Board also approved the use of <br />certificates of participation to finance the project prior to the addition of the sheriff's office <br />in the CIP in the 2004 budget. Approval of the attached resolution is the next step in <br />securing financing for the project through certificates of participation. The financing <br />process cannot proceed until the resolution is approved. <br /> <br />REQUESTED ACTION: (Suggested motion if the Board apptoves the agenda item as presented) <br />Approve the attached resolution. <br /> <br />Attachments 1&1 Yes 0 No Expected Length of Presentation 5 minutes <br />Submitted By: Pamela S. Dubois, Deputy County Manager Date: 3/31/06 <br /> <br />Budget Amendment Required: 0 Yes 1&1 No <br />Budget Amendment Attached and Reviewed by Budget Officer: 0 Yes 1&1 No <br />County Manager's Recommendations/Comments: <br /> <br />Recently, Board members have discussed financing the Jail Annex with COPs and the <br />Sheriff's Office and Detention Center with GO Bonds. Attached is a memo discussing and <br />comparing the various financing options available. <br /> <br />Manager's Signature <br /> <br /> <br />Action Taken: <br />Approved [] <br />Denied [ ] <br /> <br />Deferred [] <br />other [ ] <br /> <br />E-l <br />