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609 <br /> <br />This instrument has been preaudited in the manner required by the <br />Government Budget and Fiscal Control Ace. <br /> By: /s/ Jovce Allma~ <br /> Finance Director, City of Concord <br /> <br /> WATEK & SEWER AUTHOIRTY OF <br /> CABARRUS COUNTY <br /> By: /s/ Don T, ~owell <br />ATTEST: Title: Chairman, Board of Directors <br />By: Jamte Y. Smell <br />Title: Secretary to the Board <br />(SEAL) <br />This instrument has been preaudited in the manner required by the Local <br />Government Budget and Fiscal Control Act. <br /> /s/ M%chael Wilson <br /> Finance Director <br /> <br /> The Exhibits to the Agreement are on file in the Office of the County <br />Manager and hereby included by reference as a part of the minutes. <br /> <br /> Mr. Thomas E. Nettleman, Corning Plant Manager, and Mr. Don Tanner, Site <br />Coordinator, were present for the meeting. Mr. Nettleman thanked the Board <br />for its support. <br /> <br />Budget Review - Schools <br /> <br /> Mr. Clifton reviewed the requests for school funding and his <br />recommendations for funding as follows: <br /> <br />Current Expense: <br />Capital Outlay: <br /> <br />School Systems Request - $845.00 per student <br />Recommended Funding - $810.00 per student <br />School Systems Request - $3,622,000.00 <br />Recommended Funding - $2,600,000.00 <br /> <br />Additional Funding Recommendations (Separate from Above) <br /> <br />· Start up costs for three new schools at $150,000.00 each <br />· County Assumption of grounds and play area maintenance for both <br /> school systems at $545,765.00 <br />· $400,000.00 for the purchase of land for school bus maintenance <br /> <br />Not included but recommended is the use of $2.5 million of reserve funds <br />to purchase land for a new high school and middle school. <br /> <br />Debt service for school bonds and leases totals $9,528,072.00 or $454.00 <br />per student for FY 1998-99. <br /> <br /> Ms. Grace Mynatt, Chair of the Cabarrus County Board of Education, <br />requested assistance in purchasing land for a new high school. She indicated <br />a new high school is the most urgent need for the County Schools. <br /> <br /> Commissioner Niblock proposed that the County provide $20 million in <br />funding for a new high school through a lease purchase agreement that would <br />result in a tax increase of three cents. He stated this funding along with <br />the $8 million in bond funds previously designated by the School Board for the <br />replacement of Harrisburg Elementary School could be used to build the new <br />high school. <br /> <br /> Commissioner Carpenter arrived at 6:15 P.M. and was present for the <br />remainder of the meeting. <br /> <br /> There was discussion by the Board regarding the use of lease purchase <br />financing versus a school bond referendum to provide funding for a new high <br />school. The Board also discussed the continuing need for a new Harrisburg <br />Elementary School; however, it was noted that the new Rocky River Elementary <br />School had relieved some of the overcrowding at the Harrisburg school. <br /> <br />The Board took no action regarding funding for the schools. <br /> <br />Rowan-Cabarrus Community College <br /> <br /> Mr. Clifton reviewed the recommended funding of $547,022.00 for Rowan- <br />Cabarrus Community College (RCCC). He discussed plans for the College to lease <br /> <br /> <br />