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Meeting Date 5/19/03 <br /> <br /> CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDA ITEM REQUEST <br /> <br />Agenda Item # <br /> <br />SUBJECT: <br />Installment Contract Financing for Up to $45 Million for Public School Facilities <br /> <br />BRIEF SUMMARY: <br />Cabarrus County plans to enter into an installment financing contract to provide up to $45 <br />million for constructing and equipping two new elementary schools and one new middle <br />school, expansion of two existing elementary school facilities and various other associated <br />improvements. <br /> <br />REQUESTED ACTION: (Suggested motion if the Board approves the agenda item as presented) <br /> <br />(a) Conduct a public hearing on installment financing for the project described above. <br />(b) Adopt attached resolution approving the installment contract financing <br /> <br />Attachments [] Yes [] No Expected Length of Presentation 2 minutes. <br /> <br />Submitted By: Susan Fearrington, Assistant Finance Director Date: 5/9/03 <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 /> <br />Holding the public hearing and adopting the attached resolution are required steps in <br />securing financing for the projects described above. <br /> <br />Steve Cordell, county bond attorney, will present information on this matter. <br /> <br />Manager's Signature <br /> <br />Action Taken: <br /> <br />Approved [ ] Deferred [ ] <br />Denied [] Other [] <br /> <br /> <br />