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<br />CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Meeting Date 4/18/05 <br /> <br />Agenda Item # <br /> <br />t-\Z. <br /> <br />SUBJECT: <br />Resolution Approving the Incurrence by Enochville Fire & Rescue Department, Inc., of up <br />to $360,000 Indebtedness to Finance the Acquisition of a Fire Truck <br /> <br />BRIEF SUMMARY: <br /> <br />The Enochville Fire & Rescue Department, Inc. desires to enter into an installment- <br />purchase agreement with Municipal Services Group, Inc., to finance an amount up to <br />$360,000 for the purchase of a fire truck. The Internal Revenue Code of 1986, as <br />amended, requires approval of the incurrence of this indebtedness by the Board of County <br />Commissioners. However, the County has no liability associated with the repayment of the <br />loan and the loan does not constitute an indebtedness of the County. The Board has <br />approved similar incurrences of indebtedness by other fire departments in the past. <br /> <br />REQUESTED ACTION: (Suggested motion If the Boatd applOves the agenda item as presented) <br /> <br />Adopt Resolution <br /> <br />Attachments ~ Yes 0 No Expected Length of Presentation <br /> <br />Submitted By: Fletcher L. Hartsell, Jr., County Attorney. Date: 4f7105 <br />Name I 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 recommended. <br /> <br />Manager's Signature <br /> <br /> <br />(1 <br /> <br />Action Taken: <br />Approved [] <br />Denied [ ] <br /> <br />Deferred [] <br />Other [ ] <br /> <br />F-\2 <br />