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98 <br /> <br /> UPON MOTION of Commissioner Melvin, seconded by Commissioner Hamby and <br />unanimously carried, the Board authorized Chairman Lentz to sign the Cabarrus <br />County Schools application requesting the release of $694,000.00 from the Public <br />School Building Capital Fund for the following project. <br /> <br />Addition of new classroom with containing eight new classrooms at <br />the A.T. Allen Elementary School. Local match for the project is <br />$240,000.00. <br /> <br /> Mr. Blair D. Bennett, Finance Director, presented an analysis of the <br />County's revenues and expenses. He warned of the danger of depleting the Fund <br />Balance and urged the Board to consider a long range plan for financing capital <br />projects. <br /> UPON MOTION of Chairman Lentz, seconded by Commissioner Simmons, and <br />unanimously carried, the Board moved to go into executive session to discuss <br />possible property acquisition and pending litigation. <br /> UPON MOTION of Chairman Lentz seconded by Commissioner Hamby and <br />unanimously carried, the executive session was terminated. <br /> Chairman Lentz reported that no action in the executive session. <br /> There being no further business to come before the Board, the meeting <br />adjourned at 6:00 P.M. <br /> <br />Clerk to the Board <br /> <br /> <br />