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454 <br /> <br /> WHEREAS, prior to approval of the proposed contract, the Board <br />of Commissioners of Cabarrus County must make and enter findings of <br />fact regarding the installment contract and present the same to the <br />North Carolina Local Government Commission as a prerequisite <br />enabling the North Carolina Local Government Commission to make its <br />findings of fact, as set forth in North Carolina General Statutes <br />Section 159-151(b), <br /> <br /> NOW, THEREFORE, BE IT RESOLVED that the Board of Commissioners <br />of Cabarrus County, North Carolina, meeting in regular session the <br />15th day of December, 1997, make the following findings of fact: <br /> <br /> 1. The proposed contract is necessary or expedient because <br />of critical needs for emergency communications and technological <br />enhancements needed for Cabarrus County. <br /> 2. The proposed contract is preferable to a bond issue for <br />the same purpose because of the favorable interest rates offered <br />through installment contract financing and the very low fixed cost <br />compared to a bond issue. The cost of the proposed undertaking is <br />approximately $3.1 million and the proposed contract financing of <br />$3.1 million exceeds the amount that can be prudently raised from <br />currently available appropriations and unappropriated fund balances. <br /> 3. The cost of financing under the proposed contract is <br />believed to be less than the cost of issuing general obligation <br />bonds. <br /> 4. The sums to fall due under the contract are adequate and <br />not excessive for the proposed purpose. <br /> 5. The County of Cabarrus' debt management procedures and <br />policies are adequate because the County is well below its legal <br />debt margin, and there have been no defaults on debt service <br />payments. <br /> 6. The increase in taxes necessary to meet the sums to fall <br />due under the proposed contract will be .005 cents per $100 <br />valuation and is not deemed to be excessive. <br /> 7. The County of Cabarrus is not in default in any of its <br />debt service obligations. <br /> 8. The attorney for the County of Cabarrus has rendered an <br />opinion that the proposed Projects is authorized by law and is a <br />purpose for which public funds may be expended pursuant to the <br />Constitution and laws of North Carolina. <br /> NOW, THEREFORE, BE IT FURTHER RESOLVED that the Finance <br />Director is hereby authorized'to act on behalf of the County of <br />Cabarrus in filing an application with the North Carolina Local <br />Government Commission for approval of the Projects and the proposed <br />financing contract and other actions not inconsistent with this <br />resolution. <br /> <br /> This resolution is effective upon its adoption this 15th day <br />of December, 1997. <br /> <br />ATTEST: <br />/s/ Frankie F. Bonds <br /> <br />Clerk to the Board <br /> <br />/s/ Sue B. Casper <br />Sue B. Casper, Chair <br />Board of County Commissioners <br /> <br />Resolution Authorizing the County Purchasing Agent to Dispose of Printing <br />Equipment <br /> <br /> UPON MOTION of Commissioner Carpenter, seconded by Commissioner Mills and <br />unanimously carried, the Board adopted the following Resolution. <br /> <br />STATE OF NORTH CAROLINA ) <br /> ) <br />CABARRUS COUNTY ) <br /> <br />Resolution No. 1997-39 <br /> <br /> RESOLUTION <br /> <br /> WHEREAS, General Statute 160A-266 sets forth authority for <br />private negotiation and sale of personal property by a Board <br />authorized official; and <br /> <br /> WHEREAS, General Statute <br />provisions to apply; and <br /> <br />160A-267 directs procedural <br /> <br /> <br />