BC 2014 07 21 Regular Meeting - Laserfiche WebLink

Home Browse Search

July 21, 2014 (Regular Meeting) Page 2124 WHEREAS, N.C.G.S. §159 -61 requires the Board to fix the date of the referendum on the bond order, notify the Board of Elections thereof and provide for notice of the referendum to be published; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS FOR THE COUNTY OF CABARROS, NORTH CAROLINA: 1. The Clerk to this Board shall cause the bond order, with a statement appended in form described by N.C.G.S. §159 -58, to be published once in The Independent Tribune. 2. The Board hereby calls for a referendum with respect to the bond order and fixes the date thereof as November 4, 2014. 3. The form of the question on the ballot shall be as follows: Shall the order authorizing up to $9,000,000 of General Obligation Community College Bonds of Cabarrus County, plus interest, for the purpose of providing funds, together with any other available funds, to finance the acquisition, construction, installation and equipping of a new community college facility (Building 4000 - Advanced Technology Center) for Rowan - Cabarrus Community College within the boundaries of Cabarrus County, including acquisition of necessary land and rights -of -way, and providing that additional taxes may be levied in an amount sufficient to pay the principal of and interest on the bonds, be approved? [ ] YES [ ] NO" 4. The Clerk to the Board shall mail or deliver a copy of this resolution to the Cabarrus County Board of Elections by July 24, 2014. 5. The Clerk to the Board shall provide for publication of notice of the referendum as required by N.C.G.S. §159 -61(c) in The Independent Tribune 6. This resolution shall take effect immediately. Commissioner Measmer moved approve the passage of the foregoing resolution and Commissioner Morris seconded the motion, and the resolution was passed by the following vote: Ayes: Chairman Elizabeth F. Poole; Vice Chairman Larry M. Burrage and Commissioners Christopher A. Measmer, Stephen M. Morris and Jason A. Oesterreich Nays: [None.] Not Voting: [None.] Chairman Elizabeth F. Poole introduced the following resolution, and its title was read: 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