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<br />February 21, 2005 (Regular Meeting) <br /> <br />Page <br /> <br />92 <br /> <br />/s/ Carolyn B. Carpenter <br />Carolyn B. Carpenter, Chairman <br />Cabarrus County Board of Commissioners <br /> <br />(F-1S) Change Orders for the Business and Technology Center Construction <br />project <br /> <br />Jonathan Marshall, Commerce Director, submitted for approval a group of <br />change orders for the Rowan-Cabarrus Community College (RCCC) Business and <br />Technology Center. The maj or change was to delete the paving of the main <br />parking lot ($88,500.00) and to install geo-fabric to adjust to poor soil <br />conditions ($32,779.00). Other changes included such items as new water <br />lines, the installation of a 6" hydrant, backflow and tap, modification to <br />landscaping, installation of flowable fill in HVAC tunnels, etc. The net of <br />the changes will be a credit of $7,084.00.to the County. <br /> <br />UPON MOTION of Vice Chairman Carruth, seconded by Commissioner <br />and unanimously carried, the Board approved the change orders <br />Proposal Requests 8 and 9} for the Rowan-Cabarrus Community College <br />and Technology Center as included in the Agenda. <br /> <br />Privette <br />(Change <br />Business <br /> <br />(F-~6) Acceptance of Proposa~ (3.54% Interest Rate) from RBC Centura Bank for <br />Installment Financing of the Rowan-Cabarrus Community C01~ege Projects <br /> <br />The following bids were received on February I, 2005, for the <br />installment financing of the renovations to the RCCC Business and Technology <br />Center along with a new parking lot and architectural design fees for <br />Building 3000 at the Rowan-Cabarrus Community College South Campus. <br /> <br />Installment Financing Bid Results <br /> <br /> Prepayment <br /> 7 years 10 years 12 years Penalty <br />Farmers and Merchants 3.89 4.049 4.209 NO <br />Ashford Capital 4.16 4.37 4.64 NO <br />Suntrust Bank 4.26 4.56 4.67 NO <br />BB&T 3.89 4.05 4.13 1% )?renli urn <br />Bank of America 3.87 3.99 4.06 YES <br /> see proposal <br />RBC Centura 3.54 3.69 3.78 0.5% min. <br />RBC Centura 4.13 4.4 4.57 NO <br /> <br />RBC Centura had the lowest interest rate of 3.54 percent, which will result <br />in approximately $45,000.00 savings over the next lowest bidder at 3.89 <br />percent for the same term. <br /> <br />Vice Chairman Carruth introduced the following resolution which was read: <br /> <br />Resolution No. 2005-08 <br /> <br />RESOLUTION AUTHORIZING THE EXCUTION AND DELIVERY OF AN INSTALLMENT <br />PURCHASE CONTRACT WITH RBC CENTURA BANK TO FINANCE THE ACQUISTION <br />OF RENOVATION OF THE ROWAN CABARRUS COMMUNITY COLLEGE BUSINESS <br />CENTER, DESIGN AND CONSTRUCTION OF A PARKING LOT AT THE RCCC <br />SOUTH CAMPUS, AND DESIGN COSTS FOR RCCC'S BUILDING 3000, FOR USE <br />BY THE COUNTY OF CABARRUS, NORTH CAROLINA, AUTHORIZING THE EXECUTION <br />AND DELIVERY OF RELATED INSTRUMENTS, AND DETERMINING OTHER MATTERS <br />IN CONNECTION THEREWITH <br /> <br />BE IT RESOLVED by the governing body for the County of Cabarrus, North <br />Carolina (the IIPurchaser"): <br /> <br />Section 1. The governing body does hereby find and determine: <br /> <br />a) The County of Cabarrus proposes the acquisition of renovation of the <br />Rowan Cabarrus Community College (RCCC) Business Center, design and <br />construction of a parking lot at the RCCC South Campus, and design <br />costs for RCCC's Building 3000, which may include fixtures as more <br />fully described in the hereinafter mentioned Contract (collectively, <br />the IIproj ect") ; <br />b) After consideration, the governing body has determined that the most <br />advantageous manner of financing thereof is by an installment contract <br />pursuant to Section 160A-20 of the General Statutes of North Carolina, <br />as amendedj <br />