BC 2014 03 17 Regular Meeting - Laserfiche WebLink

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March 17, 20114 (Regular Meeting) Page 1954 Note: Due to the transition of motor vehicles onto the new North Carolina Vehicle Tax System (NCVTS), motor vehicle- related refunds and releases will begin to be displayed on the new report generated by NCVTS. UPON MOTION of Vice Chairman Burrage, seconded by Commissioner Measmer and unanimously carried, the Board approved the February 2014 Refund- Release report, along with the NCVTS Refund report, as submitted and granted authority to the Tax Collector to process the refunds and releases. The report is hereby incorporated into the minutes by reference and is on file with the Clerk to the Board. (G) NEW BUSINESS (G -1) County Manager - Discussion of November Bond Referendum for CCS KCS A r?rrr Chairman Poole advised a conference call meeting with the Local Government Commission (LGC) is scheduled for next week. She stated direction for staff is needed. Commissioner Oesterreich MOVED to: 1. Place the following three projects and amounts on the proposed bond list: A. $9 Million RCCC Advanced Technology Center B. $11 Million Royal Oaks Elementary School Replacement C. $23 Million KCS Middle School 2. The bond list will be drafted very specifically such that if alternative financing is provided for any of these three projects, financing pursuant to the bond vote will no longer be available. 3. RCCC will receive an additional $2 million cash for the Advanced Technology Center at time of financing, bringing their total to $11 million 4. As part of this motion, we agree to provide short term financing of up to $23 million to Kannapolis City Schools in FY 2015 for a term not to exceed 5 years for its middle school provided that KCS withdraw its resolution in support of bond referendum by May 31 If KCS does make such withdrawal, no other project will be added to the bond project list and the total amount of the bond will be reduced by $23 million. 5. It is important to tell our citizens how we are going to pay for this financing, but I do not want to be disruptive to the regular budget process. As part of the motion, we agree that our FY 2015 budget 5 year plan will have the following terms: A. A revenue neutral tax rate for any and all revaluation years B. An additional $2 million cash for Mount Pleasant Middle School C. $1.5 million cash for the RCCC Cosmetology Program relocation I think it would be beneficial to allow staff the opportunity to revise or amend any of its plans to meet the above stated requirements. We would like such revised or amended 5 year plan by our April board meeting and if a plan cannot be produced meeting these requirements by such time, we will move forward with plan C. Commissioner Oesterreich responded to questions regarding his motion. A discussion ensued. Commissioner Morris expressed concern over cuts to the budget and its impact on citizens of Cabarrus County. He recommended supporting the full amount for the bond referendum projects, $98,944,000.00, to allow for funding flexibility and to receive input from the LGC. He also requested clarification regarding a list of projects, provided on a handout to the Board. Mike Downs, County Manager, advised of the availability of Joe Niggel, Underwriter; Steve Cordell, Bond Counsel; and Doug Carter, Financial Advisor, to answer questions. He also advised the projects on the handout were discussed last week and determined to be the best projects to be funded by bonds. He said there were questions regarding which projects would be better