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CABARRUS COUNTY <br /> Post Office Box 707 <br /> Concord, North Carolina 28026-0707 <br /> <br /> 3anuary 25, 1988 <br /> <br />Mr. C. E. Risheill, Jr. <br />ADM Properties, Inc. <br />4600 South Ulster Street, Suite 700 <br />Denver, Colorado 80237 <br /> <br /> Re: Request for Sewer Extension <br /> to Serve the King's Grant <br /> Project <br /> <br />Dear Mr. Risheill: <br /> <br /> On January 4, 1988, the Board of Commissioners of Cabarrus <br />County ("the County") received and reviewed a preliminary draft <br />of a "Cabarrus County. Utility System Capital Financing Policy," a <br />copy of which is enclosed, and directed the newly-formed Cabarrus <br />Utilities Board to prepare a final policy for approval and <br />adoption by the County. <br /> <br /> At the same meeting, utilizing the preliminary draft, the <br />County also approved in principal the following conceptual format <br />for financing of such utility projects~ <br /> <br /> For private financing projects, the County may <br /> initially elect to pay up to 25% of the principal cost <br /> of construction of a qualifying water and/or sewer <br /> project, and may guarantee a private financier <br /> reimbursement of its remaining principal cost of <br /> qualifying expenditures for such a project during a <br /> period not to exceed five (5) years under the following <br /> conditions: <br /> <br /> (1) Participation and/or reimbursement will apply <br /> only to main trunk line or main outfall lines. <br /> <br /> (2) The project must be within the existing <br /> County-proposed program. <br /> <br /> <br />