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October 30, 2006 (Regular Meeting) Page 145 "No contracts for the purchase of a site shall be executed nor any funds expended therefore without the approval of the Board of County Commissioners as to the amount spent on the site." UPON MOTION of Commissioner Carpenter, seconded by Commissioner Privette and unanimously carried, the Board approved the purchase of the right-of-way and easement totaling $25,000.00 as set forth in the Agenda for the Carl A. Furr Elementary School Construction project and adopted the following budget amendment: BUDGET REVISION/AMENDMENT REQUEST DEPARTMENT OF 98 MILLION SCHOOL CONSTRUCTION FUND AMOUNT: $25,000.00 TYPE OF ADJUSTMENT: Internal Transfer within Department PURPOSE OF REQUEST: To provide funding for the acquisition of a right-of-way and easement located at the intersection of Clover Road and Pitts School Road form Danny Ray Penninger and wife, Sharon Kee Penninger in the amount of $25,000.00. This request was approved by the School Board Chair, Liz Poole, on October 16, 2006. Present Account No. Approved Budget Increase 36397326-9820 $10,605,308.00 Construction 36397326-9801 $559,000.00 $25,000.00 Land Acquisi tion ITEM REMOVED FOR DISCUSSION (F-15) Funding for School Property Purchase Op' New High School and Related Budget Amendment $579,000..00 Due to greater than expected growth in the student population, the Cabarrus school board requests funding for architect fees and land for a new high school in the Northwest area of the County. Debt payments for this school in the 5-Year Financial Plan were anticipated to begin in FY 2009. If the construction of this school is advanced, then the debt can be structured in such a way as to minimize the budgetary impact until FY 2009, as planned. UPON MOTION of Commissioner Carpenter, seconded by Commissioner Privette and unanimously carried, the Board approved the funding request for $100,000.00 for a land purchase option contract and $500,000.00 for architectural fees for a new high school in the Northwest area of the County and adopted the following project ordinance and related budget amendment: Ordinance 2006-16 $600,000 SCHOOL CONSTRUCTION CAPITAL PROJECT ORDINANCE BE IT ORDAINED, by the Board of County Commissioners of the County of Cabarrus, North Carolina that, pursuant to Section 13.2 of Chapter 159 of the General Statutes of North Carolina, the following capital project ordinance is hereby adopted: Section 1. The project authorized is the construction and renovations of Schools for the Cabarrus County and Kannapolis City School Systems. The capital projects will be financed by Capital Reserve funds and future debt issues. Section 2. The officers of this unit are hereby directed to proceed with this capital project within the terms of future debt resolutions and the budget contained herein. Section 3. The following budgeted amounts are appropriated for the projects: Cabarrus County School System: New High School $600,000 Section 9. The following revenues are anticipated to be available to complete this project: Decrease Revised Budget $25,000.00 $10,580,308.00 Capital Reserve Funds $600,000