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AG 2002 09 16 (Regular)
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AG 2002 09 16 (Regular)
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Last modified
3/2/2006 5:01:44 PM
Creation date
11/27/2017 11:44:08 AM
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Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
9/16/2002
Board
Board of Commissioners
Meeting Type
Regular
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NORTH CAROLINA <br /> <br />CABARRUS COUNTY <br /> <br />LEASE <br /> <br /> THIS LEASE is dated as of the 15th day of August, 2002, an'~ is entered into, by <br />and between CABARRUS COUNTY, NORTH CAROLINA, a public body politic and <br />a political subdivision of the State of North Carolina, as Lessor (the "County"), and the <br />CABARRUS COUNTY BOARD OF EDUCATION, a body politic and school <br />administrative unit duly organized and existing under the laws of the State of North <br />Carolina, as Lessee (the "Board of Education"); <br /> <br />WITNE S SETH: that-- <br /> <br /> The County and the Board of EducatiOn have previously determined to cooperate <br />in a plan for the construction and financing of improvements upon real property for <br />certain public school facilities which each has found to be necessary and desirable to <br />provide for improved public education in the County. <br /> <br /> Included among such facilities are improvements to real property at five (5) school <br />sites commonly known as Concord High School, J. N. Fries Middle School, Mt. '. <br />Pleasant High School, Northwest Middle School and Central Cabarrus High School <br />and the site of the new school administrative/maintenance building site (collectively, the <br />"Facilities"), which will lie on the property shown on Exhibit A (the "Sites"). <br /> <br /> As part of such plan of financing, the County has entered into an Installment <br />Financing Contract dated as of August 15, 2002 (the "Financial Contract"), between the <br />County and the Cabarrus County' Development' Corporation (the "Corporation"), <br />providing for the financing of the purchase and construction of the Facilities. <br /> <br /> In furtherance of this plan of financing and .to provide for improved public school <br />facilities for County residents, the County proposes to lease the Leased Property, as <br />her-eina.fter--defined:,--to .__the_Board__of__F_A_. ucation.,__and the--Board o-f .Ed-uca. t_ion_has <br />determined to accept such lease. <br /> <br /> NOW, THEREFORE, for and in consideration of the mUtual promises and <br />covenants herein contained, the parties hereto agree as follows: <br /> <br /> <br />
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