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AG 2006 08 21
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AG 2006 08 21
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Last modified
8/24/2006 1:40:13 PM
Creation date
11/27/2017 11:33:43 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
8/21/2006
Board
Board of Commissioners
Meeting Type
Regular
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<br />STATE OF NORTH CAROLINA) <br />) <br />CABARRUSCOUNTY ) <br /> <br />RESOLUTION <br /> <br />WHEREAS, Cabarrus County owns certain property, 1989 Caterpillar 627-E Scraper; and <br /> <br />WHEREAS, Nortb Carolina General Statute 160A-269 permits the County to sell property by upset bid, after <br />receipt of an offer for the property; and <br /> <br />WHEREAS, the County has received an offer to purchase the property described above, in the amount of <br />$60,500, submitted by Linder Industrial Machinery Company; and <br /> <br />WHEREAS, Linder fudustrial Machinery Company has paid the required five per cent (5%) deposit on its offer; <br /> <br />NOW THEREFORE BE IT RESOLVED, by the Board of Commissioners ofCabarrus County as follows: <br /> <br />I. The Cabarrus County Board of Commissioners authorizes sale of the property described above through <br />the upset bid procedure of North Carolina General Statute 160A-269. <br />2. The Purchasing Agent shall cause a notice of the proposed sale to be published. The notice shall describe <br />the property and the amount of the offer, and shall state the terms under which the offer may be upset. <br />3. Persons wishing to upset the offer that has been received shall submit a sealed bid with their offer to the <br />office of the Purchasing Agent within 10 days after the notice of sale is published. At the conclusion of <br />the I O-day period, the Purchasing Agent shall open the bids, if any, and the highest such bid will become <br />the new offer. If there is more than one bid in the highest amount, the first such bid received will become <br />the new offer. <br />4. If a qualifYing higher bid is received, the Purchasing Agent shall cause a new notice of upset bid to be <br />published, and shall continue to do so until a I O-day period has passed without any qualifYing upset bid <br />having been received. At that time, the amount of the [mal high bid shall be reported to the Board of <br />Commissioners. <br />5. A qualifYing higher bid is one that raises the eJdsting offer by not less than ten percent (10%) of the frrst <br />$1,000.00 ofthat offer and five percent (5%) of the remainder of that offer. <br />6. A qualifYing higher bid must also be accompanied by a deposit in the amount of five percent (5%) of the <br />bid; the deposit may be made in cash, cashier's check, or certified check. The County will return the <br />deposit on any bid not accepted, and will return the deposit on an offer subject to upset if a qualifYing <br />higher bid is received. The County will return the deposit of the fmal high bidder at closing. <br />7. The terms of the final sale are that <br />The Board of Commissioners must approve the final high offer before the sale is closed, which it <br />will do within 30 days after the fmal upset bid period has passed, and <br />The buyer must pay with cash at the time of closing. <br />8. The County reserves the right to withdraw the property from sale at any time before the [mal high bid is <br />accepted and the right to reject at any time all bids. <br />9. If no qualifYing upset bid is received after the initial public notice, the offer set forth above is hereby <br />accepted. The appropriate County officials are authorized to execute the instruments necessary to convey <br />the property to Linder fudustrial Machinery Company. <br /> <br />Adopted this 21st day of August 2006. <br /> <br />ROBERT CARRUTH, CHAIRMAN <br />CABARRUS COUNTY COMMISSIONERS <br /> <br />ATTESTED BY: <br /> <br />FRANKIE F. BONDS, CLERK TO THE BOARD <br /> <br />"F-ll <br />
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