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<br /> <br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Meeting Date 2/21/05 <br /> <br />Agenda Item # ~ - I ~ <br /> <br />SUBJECT: <br />Installment Financing Bank Bids <br /> <br />BRIEF SUMMARY: <br /> <br />Cabarrus County requested bank bids for the financing of the renovations to the RCCC <br />Business Center along with a new parking lot and architectural design fees for building <br />3000 at the South Campus of RCCC. Of the 6 bids received, RBC Centura had the lowest <br />interest rate of 3.54%. This will result in approximate $45,000 savings over the next <br />lowest bidder at 3.89% for the same term. <br /> <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br /> <br />Approve proposal from RBC Centura Bank, as recommended, for installment financing for <br />the RCCC projects described above. <br /> <br />Attachments ~ Yes 0 No Expected Length of Presentation <br /> <br />Submitted By: Pamela S. Dubois, Deputy County Manager Date: 2/7/05 <br /> <br />Name / Job Title <br /> <br />Budget Amendment Required: 0 Yes ~ No <br />Budget Amendment Attached and Reviewed by Budget Officer: 0 Yes 0 No <br /> <br />County Manager's Recommendations/Comments: <br /> <br />Approval is required to finance this project. <br /> <br />Manager's Signature <br /> <br /> <br />Action Taken: <br />Approved [] <br />Denied [ ] <br /> <br />Deferred [] <br />Other [ ] <br /> <br />F-J~ <br />