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432 <br /> <br />Attest: <br /> <br />Cabarrus County Board of Education By: <br /> <br />Chairman, Board of Education <br /> <br />(School Seal) <br /> <br />North Carolina <br /> <br />Cabarrus County <br /> <br />Agreement <br /> <br />This agreement is made this the day of November, 1997 by and <br />between Cabarrus County, a political subdivision of North Carolina <br />(the "County) and the Kannapolis City Board of Education, a school <br />administrative unit of North Carolina (the "Board of Education"). <br /> <br />Witnesseth: <br /> <br />This agreement is entered into pursuant to Article 20 of Chapter <br />160A of the North Carolina General Statutes, Interlocal Cooperation, <br />Part 1, G.S. § 160A-460 et seq. and is for the joint exercise of <br />powers as provided herein. <br /> <br />Now therefore, the County and Board of Education agree as follows: <br /> <br />(1) The purpose of the agreement is to allow the County to submit <br />refund claims to the State of North Carolina under G.S. § 105-164.14 <br />and other applicable laws for sales taxes paid to the State by the <br />County on personal property purchased by the County for the Board of <br />Education for the construction and equipping of school buildings for <br />the benefit of the Board of Education on real property owned by the <br />County, and receive refunds of such sales taxes paid by the County. <br /> <br />(2) As authorized by G.S. § 153A-158.1(d), the Board of Education <br />will convey to the County by deed fee simple title to the real <br />property sites set forth in Exhibit A attached hereto and <br />incorporated for the purpose of erection of school buildings or <br />additions to school buildings upon these sites. The contracts for <br />the erection of school buildings or additions to school~buildings <br />shall be entered into and administered by the Board of Education, <br />including architect contracts and personal property acquisition <br />associated with and to be used in the constructed school buildings <br />or additions. The Board of Education shall act as the County's <br />designated representative for this purpose with full authorization <br />until the completion of the school buildings and acquisition of <br />personal property for the sites. <br /> <br />(3) The deeds from the Board of Education to the County of the real <br />property described in Exhibit A shall each contain automatic title <br />reverter clauses whereby the title to the real property site <br />automatically reverts by operation of law to the Board of Education <br />upon the earlier of (1) termination of this Agreement under <br />paragraph 6 below, or (2) substantial completion of the construction <br />on each site. A written certificate of substantial completion signed <br />by the architect and the Chairman of the Board of Education shall be <br />sufficient to trigger automatic reversion. The County will confirm <br />reversion of title by providing to the Board of Education a deed <br />reconveying fee simple title to the property or quit-claiming any <br />interest in the property. <br /> <br />(4) The County Finance Director and the School Finance Officer are <br />authorized to agree as to the method of making periodic payments to <br />the construction contractors for work performed and to administer <br />these arrangements on behalf of the County and the Board of <br />Education respectively. <br /> <br />(5) The County Manager and the School Superintendent are authorized <br />to administer this agreement on behalf of the County and the Board <br />of Education respectively as necessary. They are authorized to <br />periodically add sites to Exhibit A for inclusion in this agreement <br />which are approved by the Board of Commissioners and the Board of <br />Education for the erection of school buildings. <br /> <br /> <br />