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Resolution No. 1998-30 <br /> <br />RESOLUTION TERMINATING THE CABARRUS-ROWAN PARK COMMI~qSION <br /> <br /> WHEREAS, Cabarrus County and Rowan County (the "Counties") are owners <br />of certain real property located in Rowan County as tenants in common acquired for the <br />purpose of establishing a jointly owned park serving citizens of northern Cabarrus and <br />southern Rowan counties, said property being more particularly described in Deed <br />Book 610 at page 424, Deed Book 681 at page 484 and Deed Book 820 at page 613, <br />Rowan County Registry, said property being collectively referred to as the "Real <br />Property"; and <br /> <br /> WHEREAS, in January, 1981, the Cabarrus County Board of Commissioners <br />and the Rowan County Board of Commissioners entered into an agreement creating a <br />joint park commission known as the Cabarrus-Rowan Park Commission; and <br /> <br /> WHEREAS, in January, 1981, the Counties est,ablished Bakers Creek Park (the <br />"Park") upon the Rea/Property; and <br /> <br /> WHEREAS, on August 17, 1998, the Cabarrus County Board of Commissioners <br />and the Rowan County Board of Commissioners entered into an agreement (the <br />"Agreement") with the City of Kannapolis whereby the ownership of the Park was to <br />be transferred to the City under certain specified conditions, including providing for a <br />reduction of budget funding by the Counties; and <br /> <br /> WHEREAS, under the Agreement, Rowan County did agree to appropriate and <br />contribute funding in the sum of $21,918.00 for the fiscal year 1998-1999 operating <br />budget of the Park and thereafter to assume no other obligations relating to the Park, its <br />facilities or operations except as may otherwise be approved by the County; and <br /> <br /> WHEREAS, under the Agreement, Cabarrus County did agree to appropriate <br />and contribute funding to the annual operating budget of the Park as follows: <br /> <br />(1) fiscal year 1998-1999 ...... <br />(2) fiscal year 1999-2000 ...... <br />(3) fiscal year 2000-2001 ...... <br /> <br />$48,850.00 <br />$32,567.00 <br />$16,284.00 <br /> <br />and thereafter to assume no other obligations relating to the Park, its facilities or <br />operations; and <br /> <br /> <br />