BC 2014 07 21 Regular Meeting - Laserfiche WebLink

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July 21, 2014 (Regular Meeting) Page 2125 financing, in part, 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- cf--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 intended to be used by the County to permanently finance the Original Expenditures. (d) As of the date hereof, the County reasonably expects that it will reimburse itself for such Original Expenditures with the proceeds of debt to be incurred by the County, and the maximum principal amount of debt to be incurred with respect to the Community College Projects is expected to be $9,000,000. (e) All Original Expenditures to be reimbursed by the County were paid no more than 60 days prior to, or will be paid on or after the date of, this declaration of official intent. The County understands that such reimbursement must occur net later than 18 months after the later of (i) the date the Original Expenditure was paid; or (ii) the date the Community College Projects were placed in service or abandoned, but in no event more than 3 years after the Original Expenditure was paid. 2. 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 Poole opened the public hearing at 8:31 p.m. The Public Hearing Notice was published on June 20, 2014 in The Independent Tribune. The Public Hearing Notice was also posted on the County's website ( www.cabarruscounty.us ) on June 20, 2C14 in accordance with Article 2, Administration, Section 2.1 (Use of Electronic Means to Provide Public Notices) of the Cabarrus County Code of Ordinances. There was no one present to address the Board; therefore Chairman Poole closed the public hearing. UPON MOTION of Vice Chairman Burrage, seconded by Commissioner Measmer, with Chairman Poole, Vice Chairman Burrage and Commissioners Measmer and Oesterreich voting for and Commissioner Morris voting against, the Board adopted the Order Authorizing $11,000,000.00 in School Bonds. UPON MOTION of Vice Chairman Burrage, seconded by Commissioner Measmer, with Chairman Poole, Vice Chairman Burrage and Commissioners Measmer and Oesterreich voting for and Commissioner Morris voting against, the Board adopted the Resolution Calling for a Special Bond Referendum on November 4, 2014. UPON MOTION of Commissioner Measmer, seconded by Vice Chairman Burrage, with Chairman Poole, Vice Chairman Burrage and Commissioners Measmer and Oesterreich voting for and Commissioner Morris voting against, the Board authorized the publication of the bond orders as adopted. UPON MOTION of Commissioner Measmer, seconded by Vice Chairman Burrage, with Chairman Poole, Vice Chairman Burrage and Commissioners Measmer and Oesterreich voting for and Commissioner Morris voting against, the Board authorized the publication of notice of the bond referendum. UPON MOTION of Commissioner Measmer, seconded by Vice Chairman Burrage, with Chairman Poole, Vice Chairman Burrage and Commissioners Measmer and Oesterreich voting for and Commissioner Morris voting against, the Board adopted the Resolution Declaring Official Intent to Reimburse Expenditures