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435 <br /> <br />WHEREAS, <br />WHEREAS, <br /> <br />WHEREAS, <br /> <br />WHEREAS, <br /> <br /> the theme for this observance is "Safety: It's a Way of <br /> Life"; and <br /> motor vehicle accidents are the leading cause of death <br /> for children and youth, followed by drowning, and fires <br /> and burns; and <br /> work-related injuries cost American industry over $100 <br /> billion, and all accidents cost $400 billion annually; <br /> and <br /> the American Society of Safety Engineers will be <br /> emphasizing the importance of making safety a way of <br /> life through related safety and health activities and <br /> special events; and <br /> NOW, THEREFORE, the Cabarrus County Board of Commissioners <br />does hereby proclaim June 4-10, 1995, as "National Safety Week" in <br />Cabarrus County, North Carolina, and commend this observance to our <br />citizens. <br /> This the 5th day of June, 1995. <br /> <br /> /s/ Jeffrey L. Barnhart <br /> Jeffrey L. Barnhart, Chairman <br /> Board of Commissioners <br />ATTEST: <br /> /s/ Frankie F. Bonds <br />Frankie F. Bonds, Clerk to the Board <br /> <br />NEW BUSINESS <br /> <br />Lease Financing for the Westside Elementary School - Public Hearing - 6:30 P.M. <br /> <br /> Mr. Blair Bennett, Finance Director, presented the following financing bid <br />proposals received for the funding of the Westside Elementary School. <br /> <br />First Union National Bank <br />Branch Banking & Trust <br />Wachovia Bank & Trust <br /> <br />10 Years 12 Years 15 Years <br /> <br />4.71% 4.74% 4.80% <br />4.74% 5.09% 5.57% <br />4.76% 4.92% 4.99% <br /> <br />He recommended that the Board accept the lowest rate of 4.71 percent for 10 years <br />as submitted by First Union National Bank for financing the $9.9 million for the <br />construction of the Westside Elementary School. <br /> <br /> At 6:40 P.M., Chairman Barnhart opened the public hearing concerning the <br />bank bids and terms of the financing and asked if anyone were present who wished <br />to address the Board regarding these proposals. There was no one present to <br />address the Board concerning the proposals, and Chairman Barnhart closed the <br />public hearing. <br /> <br /> UPON MOTION of Chairman Barnhart, seconded by Commissioner Fennel with <br />Chairman Barnhart and Commissioners Fennel, Casper and Olio-Mills voting for, the <br />Board approved the following Agency Agreement between Cabarrus County and the <br />Cabarrus County Board of Education. <br /> <br />AGENCY AGREEMENT <br /> <br /> This AGENCY AGREEMENT, dated as of , 1995, by <br />and between the CABARRUS COUNTY BOARD OF EDUCATION (the "Board"), <br />and the COUNTY OF CABARRUS, NORTH CAROLINA, a political subdivision <br />duly organized and existing under and by virtue of the. Constitution <br />and laws of the State of North Carolina (the "County"); <br /> W I T N E S S E T H: that -- <br /> WHEREAS, the County plans to enter into an Installment <br />Purchase Contract (the "Installment Agreement") (N.C.G.S. 160A-20) <br />to finance all or a portion of the costs of construction of certain <br />improvements upon the real property described in Exhibit A hereto <br />the ("Project"), which Project is to be used to provide school <br />facilities; and <br /> WHEREAS, all acts, conditions and things required by law to <br />exist, to have happened and to have been performed precedent to and <br />in connection with the execution and entering into of this Agency <br /> <br /> <br />