BC 2007 11 05 Work Session - Laserfiche WebLink

Home Browse Search

November 5, 2007 (Work Session) Page 609 UPON MOTION of Commissioner Mynatt, seconded by Commissioner Privette and unanimously carried, the Board voted to place the TIF Interlocal Agreement on the November 19, 2007 Agenda as a New Business item. WSACC (Water and Sewer Authority of Cabarrus County) - Transfer of Non- Warranty Deeds Richard Koch, County Attorney, reported he received the agreement authorizing the transfer of the non-warranty deeds this morning, but had not reviewed it. However, he said he had reviewed the deeds and the maps and they appear to be in order. He suggested the Board continue with its meeting while he reviewed the agreement. John D. Day, County Manager, explained the agreement refers to the 1991 airport settlement agreement between Concord and the County and that the WSACC Executive Director sent a letter asking both entities to follow through on that agreement. Mr. Koch reported the City has taken care of all but one of the interceptor lines. No action was taken by the Board. Purchase of Solid Waste Management Facility (Landfill) Rear Load Packer Truck via Piggyback Pam Dubois, Deputy County Manager, presented a request to purchase a rear load packer truck for the Landfill utilizing the piggyback method. She explained that this truck will be used to collect recycled materials at school sites in the unincorporated areas that do not have recycling pickup at their facilities. She also reviewed the piggyback process. UPON MOTION of Coy Privette, seconded by Commissioner Mynatt and unanimously carried, the Board voted to place the purchase of a rear load packer truck for the Landfill via piggyback on the November 19, 2007 Agenda as a Consent item. Parka Department - Budget Amendment (Cox Mill Capital Improvement Projeet - $233,897.00) Londe Strong, Parks Director, presented a budget amendment totaling $233,897.00 that transferred project contingency funds to the capital line items for the Cox Mill School Park. She reviewed the project budget, contracts, change orders and contingency amount. She reported these funds will be used to complete items that were in the original plans but could not be afforded. She also stated the need to use the remaining $66,109.50 to address safety concerns at the park. UPON MOTION of Commissioner Privette, seconded by Vice Chairman Juba and unanimously carried, the Board voted to place the budget amendment for the Cox Mill Capital Improvement Project - $233,897.00 on the November 19, 2007 Agenda as a Consent item. Resolution Relating to Refinanaing of Prior Installment Financing Contracts of Various Publia Projeata and Calling Required Public Hearing, Pam Dubois, Deputy County Manager, reported due to declining interest rates, the potential exists for greater savings by refinancing prior installment financing projects. Upon the recommendation of the County's Bond Counsel and Underwriter, she suggested the resolution include the following language: "not to exceed $82,500,000.00". She explained this resolution is not to issue new debt but merely refinances $62.5 million onthe County's existing debt at a lower interest rate. She further explained the LGC (Local Government Commission) governs the refinancing process and is considering the refinancing of the County's 1999 Installment Financing Bonds that were used to build the J. N. Robinson High School and other county debt that will yield a substantial savings. She also pointed out that a public hearing is required and the financing will not occur if the savings cannot be generated. She responded to several questions relating to the following issues: refinancing costs, if any; amount of annual savings; how the savings can be used; etc. UPON MOTION of Commissioner Privette, seconded by Commissioner Mynatt and unanimously carried, the Board voted to place the resolution relating to refinancing of prior installment financing contracts of various public