AG 1998 02 16 - Laserfiche WebLink

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RESOLUTION NO. 1998-07 RESOLUTION VV-HEREAS, Caharms County has traditionally and uniformly allocated funds to the Cabarrus County Schools and the Kannapolis City Schools based upon their respective projected and actual average daily membership (ADM), actual school system student populations, as determined and certified to the school administrative units and to the County Commissioners by the State Board of Education; and WHEREAS, appropriation for current operating expense based upon ADM is required by North Carolina General Statute 115C-430, and Cabarms County has routinely allocated capital outlay funds and distributed bond proceeds to the two school systems in the same relative manner and to the same relative extent; and WHEREAS, the two school systems jointly developed a three-phased program upgrading existing schools consistent with today's technological needs and student requirements, the construction of new schools to accommodate growth in the number of students and the replacement of existing schools that cannot be upgraded to meet current educational standards; and WHEREAS, the citizens of Cabarms County have previously approved a $49 million bond issue in support of the three-phased school facilities improvement plan and are paying for the bond debt through increased property taxes; and WHEREAS, a task force appointed by the County Commission to consider options related to funding phases two and three of the school facilities plan recommended that the public through a referendum process consider an additional one cent local option sales tax and a one percent local option real estate transfer tax; and WHEREAS, a special referendum is scheduled on February 24, 1998 to seek the consent of the residents of Cabarms County for Caharrus County to authorize the levy of an additional one percent local sales and use tax and a one percent local real property transfer tax in lieu of additional ad valorem property taxes, the proceeds of such levy or levies to be used solely for public school capital projects for a period not to exceed five years. NOW, THEREFORE, BE IT RESOLVED by the Cabarrus County Board of Commissioners that the net proceeds of any such alternative tax implemented as a result of the February 24, 1998, special referendum shall be allocated to the Cabarrns County Schools and to the Kannapolis City Schools in the manner and proportion consistent with the ADM fimding principle which Cabarms County has traditionally used in allocating funds between the two school systems. Adopted this the __ day of February, 1998. ATTEST: Sue Casper, Chair Cabarrus County Board of Commissioners Frankie F. Bonds, Clerk to the Board