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DRAFT <br />NOTE 2: If right of way cannot be obtained for one of the above roads, or <br />if additional funds are received, we will apply fund to the next road, or <br />roads, in priority order. <br />NOTE 3: Program subject to availability of funding, right of way and <br />environmental review. <br /> <br /> ~IPON MOTION of Commissioner Privette, seconded by Chairman Fennel and <br />unanimously carried, the Board adopted the following Resolution. <br /> <br /> Resolution No. 2000 - 16 <br /> A RESOLUTION RELATIVE TO THE <br />2000-2001 SECONDARY ROAD CONSTRUCTION PROGR3%M <br /> FOR CABARRUS COUNTY <br /> <br />WHEREAS, the North Carolina Department of Transportation has submitted a <br /> proposed Secondary Road Program in the amount of $941,925.00 for <br /> Cabarrus County for the 2000-2001 Fiscal Year; and <br />WHEREAS, representatives of the Department Of Transportation in accordance <br /> with North Carolina General Statute 136-44.8 met with the Board <br /> of County Commissioners at a repular meeting of the Board on May <br /> 15, 2000, at 6:30 p.m. in the Commissioners' Meeting Room at the <br /> Cabarrus County Governmental Center in Concord, North Carolina, <br /> in order to present to and discuss with the Board and other <br /> citizens present the proposed 2000-2001 Secondary Road Program; <br /> and <br />WHEREAS, North Carolina General Statute 136-44.8 provides that the Board <br /> of County Commissioners, after the presentation and discussion of <br /> the annual Secondary Road Program, may concur with the program as <br /> proposed. <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the County of <br /> Cabarrus that said Board does concur with the 2000-2001 Secondary Road <br /> Program as presented by the North Carolina Department of Transportation <br /> and does reco~end that the Board of Transportation adopt the proposed <br /> program for Cabarrus County. <br />Adopted this 15=h day of May, 2000. <br /> <br />ATTEST: <br />/s/ Frankie F. Bonds <br />Frankie F. Bonds <br />Clerk to the Board <br /> <br />/s/ Arne L. Fennel <br />Arne L. Fennel, Chairman <br />Board of Commissioners <br /> <br />Resolution Authorizin~ U~ to $40 Million for School Construction <br /> <br /> Mr. Blair Bennett, Deputy County Manager for Administration, explained <br />the proposed Resolution was the first step to start the process to borrow <br />funds up to $40 million to construct two new middle schools and one new <br />elementary school. He stated it might-be January or February 2001 before the <br />funds are borrowed depending upon the School Board's schedule for new school <br />construction. <br /> <br /> Commissioner Casper spoke in support of a bond referendum to fund new <br />school construction rather than the proposed installment contract financing <br />method. <br /> <br /> Mr. Bennett outlined the various costs and time schedules associated <br />with a bond referendum and the installment contract financing method for new <br />school construction projects. <br /> <br /> UPON MOTION of Commissioner Privette, seconded by Commissioner Barnhart <br />and unanimously carried, the Board adopted the following Resolution. <br /> <br /> Resolution No. 2000-17 <br /> <br />RESOLUTION REI~TING TO INSTALLMENT CONTRACT FIN~_NCING FOR SCHOOL <br />PROJECTS IN AN AGGREGATE PRINCIPAL AMOUNT UP TO $40,000,000 AND <br />THE ISSUANCE BY THE CABARRUS COUNTY DEVELOPMENT CORPORATION OF <br />INSTALLMENT PAYMENT REVENUE BONDS RELATED THERETO <br /> <br /> WHEREAS, the Board of Commissioners desires to undertake a proposed <br />plan of financing in an aggregate principal amount of up to $40,000,000, <br />which plan would involve the entry by the County into an installment <br />financing contract with the Cabarrus County Development Corporation (the <br />"Corporation") pursuant to North Carolina General Statutes 160A-20, as <br /> <br /> <br />