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December 14, 2015 (Regular Meeting) Page 2606 2. The County Commissioners authorize County staff to complete the final terms and conditions of the property donation. Adopted this 14th day of December, 2015. CABARRUS COUNTY BOARD OF COMMISSIONERS By: /s/ Stephen M. Morris Stephen M. Morris, Chairman ATTEST: fs/ Megan I.E. Smit Megan T.E. Smit, Clerk to the Board (F -5) County Manager - Match State Salary Increase for Locally Funded RCCC Staff - Every year, when the State increases the salary of state- funded positions, the county matches that increase for the locally funded positions. UPON MOTION of Commissioner Mynatt, seconded by Vice Chairman Honeycutt and unanimously carried, the Board approved the budget revision. Date:12 /14/2015 Amount:$5,450 Dept. Head: Pamela Dubois Department :Schools /Non departmental CI Internal Transfer Within Department 0 Transfer Between Departments /Funds ❑ Supplemental Request Purnose: To fund local salaries hased on state budaet for RCCC staff. Account Number Account Name Approved Budget Inc Amount Dec Amount Revised Budget 00191910 -9660 Contingency $237,062.00 1 $5,450.001 $231,612.00 00197140 -9719 RCCC current Expense $2,262 $5,450.001 1 $2,268,205.00 (F -6) Finance - Resolutions Declaring Official Intent to Reimburse Expenditures with Proceeds of Debt Pursuant to U. S. Department of Treasury Regulations It is requested that the County advance its own funds to pay certain original expenditures associated with the new Mount Pleasant Middle School and Kannapolis Middle School projects. Approval of the attached resolutions will allow the County to pay the original expenditures and then reimburse itself for the expenditures with the proceeds of the debt to be incurred by the County for the 2016 Limited Obligation Bonds. UPON MOTION of Commissioner Mynatt, seconded by Vice Chairman Honeycutt and unanimously carried, the Board adopted the resolutions and authorized the Chairman to sign the reimbursement agreements for Mount Pleasant Middle and Kannapolis Middle Schools. Resolution No. 2015 -29 RESOLUTION DECLARING OFFICIAL INTENT TO REIMBURSE EXPENDITURES WITH PROCEEDS OF DEBT PURSUANT TO UNITED STATES DEPARTMENT OF TREASURY REGULATIONS BE IT RESOLVED by the Board of Commissioners of Cabarrus County: 1. The Board hereby finds, determines and declares as follows: (a) Treasury Regulations Section 1.150 -2 (the "Regulations ") , promulgated by the United States Department of Treasury on June 18, 1993, prescribes certain specific procedures applicable to certain obligations issued by the County after June 30, 1993, including, without limitation, a requirement that the County timely declare its official intent to reimburse certain expenditures with the proceeds of debt to be issued thereafter by the County. (b) The County has advanced and /or will advance its own funds to pay certain capital costs (the "Original Expenditures ") associated with financing, in part, the acquisition, construction, installation and equipping of a new public middle school to replace the existing Mount Pleasant Middle School, including acquisition of necessary land and rights -of -way. (c) The funds heretofore advanced or to be advanced by the County to pay the Original Expenditures are or will be available only on a temporary basis, and do not consist of funds that were otherwise earmarked or