BC 1995 05 15 - Laserfiche WebLink

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423 Budget.Amendment - Elections (Voter Registration Grant) UPON MOTION of Chairman Barnhart, seconded by Commissioner Fennel and unanimously carried, the Board adopted the following budget amendment. BUDGET REVISION/AMENDMENT REQUEST DEPARTMENT OF ELECTIONS AMOUNT: $9,500.00 TYPE OF ADJUSTMENT: Supplemental Request PURPOSE OF REQUEST: To appropriate grant funds received from State of North Carolina for voter registration equipment. Line Item Present Approved Account Number Budget 01-6-15-10-318 -O- Voter Registration Grant 01-9-15-10-860 42,100.00 Equipment & Furniture Revised Increase Decrease Budget 9,500.00 9,500.00 9,500.00 51,600.00 NEW BUSINESS Resolution Authorizing Filing of Application for Approval of Lease Financing of the Westside Elementary School There was lengthy dtscussion regarding the construction of the new Westside Elementary School. The projected cost of the facility is $10.8 million with the proposed contract financing of $9.9 million. Board members expressed concern about the cost of financing and discussed the use of the "cash method" to pay for the school. Chairman Barnhart reported that two cents (2¢) on the tax rate had been included in the FY 1994-95 budget to pay for land acquisition and to begin design of the project. He explained that the two cents (2¢) remains in the 1995- 96 budget in the normalized tax rate after revaluation. It was noted during discussion that the proposed resolution authorizes financing up to $9.9 million but does not prohibit the Board from financing a lower amount. UPON MOTION of Commissioner Fennel, seconded by Commissioner Niblock and unanimously carried, the Board moved to approve the following resolution and to make a request to the School Board and architect for the Westside School facility to continue to be austere and continue to cut as many costs as they can and still have a functional building since this should be the prototype for facilities that the County will be building in the future. RESOLUTION AUTHORIZING THE FILING OF AN APPLICATION FOR APPROVAL OF A FINANCING AGREEMENT AUTHORIZED BY NORTH CAROLINA GENERAL STATUTE 160A-20 WHEREAS, the Board of Commissioners of Cabarrus County, North Carolina desires to construct a new school, known as Westside Elementary School, (the "Project") to better serve the citizens of Cabarrus County; and WHEREAS, the Board of Commissioners of Cabarrus County desires to finance the Project by the use of an installment contract authorized under North Carolina General Statutes Section 160A-20; and WHEREAS, prior to approval of the proposed contract, the Board of Commissioners of Cabarrus County must make and enter findings of fact regarding the installment contract and present the same to the North Carolina Local Government Commission as a prerequisite enabling the North Carolina Local Government Commission to make its findings of fact, as set forth in North Carolina General Statutes Section 159o151(b); NOW, THEREFORE, BE IT RESOLVED that the Board of Commissioners of Cabarrus County, North Carolina, meeting in regular session the 15th day of May, 1995, make the following findings of fact: 1. The proposed contract is necessary or expedient because of critical needs of classroom space due to existing and projected student population increase in Cabarrus County.