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Meeting Date 8/16/04 <br /> <br /> CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Agenda Item <br /> <br />SUBJECT: <br />Escrow Restructuring Strategy <br /> <br />BRIEF SUMMARY: <br />Refunding of escrow investments of the 2004 general obligation bond refunding which <br />allows the County to recoup negative arbitrage. The savings which result in the transaction <br />are remitted to the general fund, less any legal and financial fees. See attached memo for <br />additional information plus the detailed presentation prepared by IMAGE. <br /> <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br />Approve authority to proceed with concept and selection of a company to provide the <br />service with the aid and involvement of the County Attorney and County Manager. <br /> <br />Attachments [] Yes [] No Expected Length of Presentation 15 minutes <br /> <br />Submitted By: Pamela S. Dubois, Deputy County Manager Date: 8/3/04 <br /> <br />Budget Amendment Required: [] Yes [] No <br /> <br />Budget Amendment Attached and Reviewed by Budget Officer: <br /> <br />[] Yes [] No <br /> <br />County Manager's Recommendations/Comments: <br />Approval is recommended. <br /> <br />Manager's Signature <br /> <br />Action Taken: <br /> <br />Approved [ ] Deferred [ ] <br />Denied [ ] O~er [ ] <br /> <br /> <br />