AG 1996 02 05 - Laserfiche WebLink

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EXTRACT FROM MINUTES OF BOARD OF COMMISSIONERS OF THE COUNTY OF CABARRUS, NORTH CAROLINA The Board of Commissioners of the County of Cabarrus, North Carolina (the "Board"), met in regular session in the Commissioner's Meeting Room at the Cabarrus County Governmental Center,, Concord, North Carolina, the regular place of meeting, at __ p.m., on , 1996 with Chairman presiding. The following Commissioners were: PRESENT: ABSENT: ALSO PRESENT: County Attorney Fletcher L. Hartsell, Jr.; and County Clerk Frankie F. Bonds. Fletcher L. Hartsell, Jr., Attorney for Cabarrus County, noted that the Board had received resolutions from the Cabarrus County Board of Education and the Kannapolis City Schools' Board of Education requesting that the County issue general obligation school bonds in the aggregate principal amount of approximately $49,000,000 to finance various school projects. The Board reviewed information relating to the need for each of the projects proposed to be financed by the bond issue(s) and that the aggregate amount of bonds proposed was adequate and not excessive for the proposed purpose(s). The Board further reviewed information regarding compliance of the County's debt management policies and its budgetary and fiscal management policies with applicable law and indicating that the estimated increase in property tax required for the estimated increase in debt service requirements for the proposed bond issue(s) was not excessive. Mr. Hartsell also noted the need for the Board to designate a representative to act on its behalf with the Local Government Commission in connection with an application to be submitted by the County for approval of the bond issues and to authorize the publication of a notice of intent to file the application. Thereupon, Commissioner introduced the following resolution, a copy of which had been distributed to each Commissioner and the title of which was read: