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48
<br />
<br />the calamity. However, if the cause of damage is not of
<br />natural origin and the repair costs will equal or exceed 75
<br />percent or more of the tax assessed value; it must, if
<br />reconstructed, conform in all ways to this ordinance.
<br />Calculation of the cost of damage will be that determined by
<br />the owner/operator's insurance carrier. If uninsured or no
<br />insurance claim is filed, the amount of damage will be
<br />estimated by a County Tax Assessor appraiser.
<br />This Ordinance shall become effective upon its adoption.
<br />
<br />Adopted this the 21st day of February , 1994 by the Cabarrus
<br />County Board of Commissioners.
<br /> /s/ Jeffrey L. Barnhart .
<br /> J~ffrey L. Barnhart, Chairman
<br /> Board of Commissioners
<br />ATTEST:
<br />/s/ Frankie'F. Bonds
<br />Frankie F. Bonds, Clerk to the Board
<br />
<br />School Bond Referendum Introduction of Bond Order and Scheduling of Public
<br />
<br />Hearing
<br />
<br /> Mr. Hartsell reviewed the process for calling for a school bond referendum
<br />on May 3 as requested by the Cabarrus County Board of Education and the
<br />Kannapolis Board of Education. He presented the following ballot proposition for
<br />the school bond referendum.
<br />
<br />Shall the order adopted on March 7, 1994, authorizing not exceeding
<br />$81,000,000.00 School Bonds of the County of Cabarrus, North
<br />Carolina, for the purpose of providing funds, with anY othe~
<br />available funds, for erecting additional school buildings and other
<br />school plant facilities, replacing, remodeling, enlarging and
<br />reconstructing existing school 'buildings and other school plant
<br />facilities and acquiring any necessary land, rights-of-way and
<br />equipment therefore, in order to provide additional school
<br />facilities in said County to maintain the nine months' school term
<br />as required by Section 2 of Article IX of the Constitution, and
<br />authorizing the levy of taxes in an amount sufficient to pay the
<br />principal of and the interest on said bonds, be approved.
<br />
<br /> Commissioner Payne questioned the possibility of postponing the school bond
<br />referendum until the second primary. The Board discussed the advantages and
<br />disadvantages of holding the school bond referendum on May 3 as well as the
<br />potential impact that the alcohol referendum in the cities of Concord and
<br />Kannapolis may have on the school bond issue.
<br />
<br /> 'UPON MOTION of Commissioner Fennel, seconded by Commissioner Casper and
<br />unanimously carried, the Board voted to put the school bond referendum in the
<br />amount of $81,000,000.00 on the ballot for May 3, 1994.
<br />
<br /> Mr. Hartsell presented the proposals which had been received from bond
<br />attorneys for the school bond issue.
<br />
<br />Bond Attorney
<br />Smith Helms Mulliss & Moore
<br />Robinson, Bradshaw & Hinson
<br />Womble Carlyle Sandridge & Rice
<br />Parker, Poe, Adams & Bernstein
<br />Brown & Wood
<br />LeBoeuf, Lamb, Green & MacRae
<br />
<br />Failed
<br />Referendum
<br />
<br />Referendum/
<br />Total Ail 3 Sales
<br />
<br />$1,500.00 $25,000.00
<br />$1,500.00 $35,000.00
<br />$2,000.00 $35,000.00
<br />$2,000.00 $44,000.00
<br />$2,000.00 $54,000.00
<br />$1,500.00 $65,000.00
<br />
<br /> UPON MOTION of Commissioner Payne, seconded by Commissioner Carpenter and
<br />unanimously carried, the Board named Smith, Helms Mulliss & Moore as bond
<br />attorney.
<br />
<br /> The Clerk to the Board of Commissioners presented certified copies of
<br />resolutions which had been received from The Cabarrus County Board of Education
<br />and The Kannapolis City Board of Education.
<br />
<br />
<br />
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