My WebLink
|
Help
|
About
|
Sign Out
Home
Browse
Search
AG 1997 12 15
CabarrusCountyDocuments
>
Public Meetings
>
Agendas
>
BOC
>
1997
>
AG 1997 12 15
Metadata
Thumbnails
Annotations
Entry Properties
Last modified
3/25/2002 6:32:25 PM
Creation date
11/27/2017 11:54:54 AM
Metadata
Fields
Template:
Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
12/15/1997
Board
Board of Commissioners
Meeting Type
Regular
Jump to thumbnail
< previous set
next set >
There are no annotations on this page.
Document management portal powered by Laserfiche WebLink 9 © 1998-2015
Laserfiche.
All rights reserved.
/
256
PDF
Print
Pages to print
Enter page numbers and/or page ranges separated by commas. For example, 1,3,5-12.
After downloading, print the document using a PDF reader (e.g. Adobe Reader).
View images
View plain text
Resolution No. <br /> <br />RESOLUTION AUTHORIZI'NG THE FILING OF AN APPLICATION <br />FOR APPROVAL OF A FINANCING AGREEMENT AUTHORIZED BY <br />NORTH CAROLINA GENERAL STATUTE 160A-20 <br /> <br /> WHEREAS, the Board of Commissioners of Cabarms County, North Carolina <br />desires to purchase an 800 MHz radio communication system and new computer <br />hardware and software for all applications in county government (the Projects) to better <br />serve the citizens of Cabarrus County; and <br /> <br /> WHEREAS, the Board of Commissioners of Cabarrus County desires to finance <br />the Projects by the use of an installment contract authorized under North Carolina <br />General Statutes Section 160A-20; and <br /> <br /> WHEREAS, prior to approval of the proposed contract, the Board of <br />Commissioners of Cabarrus County must make and enter findings of fact regarding the <br />installment contract and present the same to the North Carolina Local Government <br />Commission as a prerequisite enabling the North Carolina Local Government <br />Commission to make its findings of fact, as set forth in North Carolina General Statutes <br />Section 159-151 (b); <br /> <br /> NOW, THEREFORE, BE IT RESOLVED that the Board of Commissioners of <br />Cabarrus County, North Carolina, meeting in regular session the 15th day of December, <br />1997, make the following findings of fact: <br /> <br />The proposed contract is necessary or expedient because of critical needs for <br />emergency communications and technological enhancements needed for Cabarrus <br />County. <br /> <br />The proposed contract is preferable to a bond issue for the same purpose because <br />of the favorable interest rates offered through installment contract financing and <br />the very Iow fixed cost compared to a bond issue. The cost of the proposed <br />undertaking is approximately $3.1 million and the proposed contract financing of <br />$3.1 million exceeds the amount that can be prudently raised from currently <br />available appropriations and unappropriated fund balances. <br /> <br />The cost of financing under the proposed contract is believed to be less than the <br />cost of issuing general obligation bonds. <br /> <br />The sums to fall due under the contract are adequate and not excessive for the <br />proposed purpose. <br /> <br />The County of Cabarrus' debt management procedures and policies are adequate <br />because the County is well below its legal debt margin, and there have been no <br />defaults on debt service payments. <br /> <br />The increase in taxes necessary to meet the sums to fall due under the proPosed <br />contract will be .005 cents per $100 valuation and is not deemed to be excessive. <br /> <br />The County of Cabarrus is not in default in any of its debt service obligations. <br /> <br />1997-38 <br /> <br /> <br />
The URL can be used to link to this page
Your browser does not support the video tag.