AG 2001 05 21 - Laserfiche WebLink

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NORTH CAROtlNA May 8, 2001 Mr. John Murdock Water and Sewer Authority Of Cabarms County P. O. Box 428 Concord, NC 28026-0428 Dear John: At a recent budget meeting with Cabarrus County Board of-Commissioners we discussed issues relating to the Muddy Creek Waste Water Treatment Plant. The Board of Commissioners, at a previous meeting, authorized the early liquidation of debt related to borrowings for the Muddy Creek Waste Water Treatment Plant. I had requested to pay the debt off on June 1, 2001, which originally was due December 1, 2001. The purpose was to close an old water and sewer utility fund that has been carried on our books while existing debt still remained. Also, because of special reporting requirements related to auditing standards effective on July 1,2001, it becomes important for us to close this fund. It has been the intention of the Board of Commissioners to give these fixed assets to the Water and Sewer Authority of Cabarrus County upon payment of the debt on this facility. Per Board of Commissioners action, I was advised to put this request for transfer of fixed assets on the May 21, 2001 agenda for their final approval. Subject to their approval, it is requested that you seek approval from your board to accept transfer of these fixed assets on June 30, 2001. I have attached a schedule of the fixed assets, which we are seeking approval to transfer. Besides the Muddy Creek Waste Water Treatment Plant, there are also a few other assets related to water and sewer outfall lines and right of ways included. Please review and advise me if this is acceptable. Thanks for your assistance in this matter. Sincerely, Blair D. Bennett Deputy County Manager cc: Frank Clifton Amc Fennel ~0. Box 707 ~ x,,c .: )cc,. NC 2302*-0707 ~ t. :',',, ;x :,:; .,.,~ :r~,[