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<br />
<br /> The Board of Commissioners for the County of Cabarrus met in special
<br />session in the Commissioners' Conference Room at the Cabarrus County Governmental
<br />Center in Concord, North Carolina on Thursday, December 8, 1994, at 5:00 P.M.
<br />The purpose of the meeting was to resolve existing claims regarding Tax
<br />Management Associates.
<br />
<br />Present - Chairman: Jeffrey L. Barnhart
<br /> Vice-Chairman: Arne L. Fennel
<br /> Commissioners: Dr. Franklin C. Niblock, Jr.
<br /> Kenneth Olio-Mills
<br />
<br />Absent - Commissioner: Sue B. Casper
<br />
<br /> Also present were Mr. John V. Witherspoon, County Manager; Mr. Fletcher L.
<br />Hartsell, Jr., County Attorney; Mr. Terry Rowland, Tax Administrator; Mr. Blair
<br />Bennett, Finance Director/Area Manager; Mr. John Day, Budget Officer/Area
<br />Manager; and Mrs. Frankie F. Bonds, Clerk to the Board.
<br />
<br />Chairman Barnhart called the meeting to order at 5:00 P.M.
<br />
<br /> The Board briefly reviewed the proposed resolution authorizing payment to
<br />Tax Management Associates for work involving the Philip Morris tax audit.
<br />
<br /> UPON MOTION of Commissioner Fennel, seconded by Commissioner Olio-Mills and
<br />unanimously carried, the Board adopted the following Resolution.
<br />
<br />NORTH CAROLINA
<br />
<br />CABARRUS COUNTY
<br />
<br />RESOLUTION
<br />
<br /> WHEREAS, on or about the 4th day of May, 1988, Tax Management
<br />Associates, Inc. (hereinafter "TMA") and Terry L. Rowland, Tax
<br />Assessor for Cabarrus County, North Carolina, executed a "Business
<br />Personal Property Audit Agreement" (hereinafter "the Agreement")
<br />which provided, among other things, that Cabarrus County
<br />(hereinafter "the County") pay to TMA "35% of taxes discovered
<br />including penalty" for services rendered or to be rendered in the
<br />performance of business personal property ad valorem tax audits "on
<br />a reasonable sample of the County's business personal property
<br />taxpayers"; and
<br /> WHEREAS, on the 16th day of January, 1989, the Board of
<br />Commissioners of the County ratified the Agreement "nunc pro tunc";
<br />and
<br /> WHEREAS, during the period May 4, 1988 to date, TMA has
<br />performed good and valuable services for the County in so auditing
<br />the business personal property books and records of more than 650
<br />business taxpayers in the County, including Philip Morris U.S.A.;
<br />and
<br /> WHEREAS, arising from such audits for the period January 1,
<br />1984 - December 31, 1989, the County has now collected from Philip
<br />Morris U.S.A. the sum of Three Million Three Hundred Thirty-seven
<br />Thousand Six Hundred Fifty-three Dollars ($3,337,653.00) in taxes,
<br />for the discovery of additional business personal property, together
<br />with an additional sum of One Million One Hundred Eighteen Thousand
<br />One Hundred Thirteen Dollars ($1,118,113.00) in interest upon such
<br />tax collection, and has assessed but, due to appeal or otherwise,
<br />has not collected penalties thereon totalling One Million One
<br />Hundred Forty-two Thousand Two Hundred Twenty-eight Dollars
<br />($1,142,228.00) not including interest; and
<br /> WHEREAS, on or about the 28th day of July, 1994, the County
<br />acknowledged the assignment of the Agreement to Branch Banking and
<br />Trust Company; and
<br /> WHEREAS, previously disputes and differences have arisen
<br />between TMA and the County regarding the amount, if any, due TMA
<br />from the County, for audit services, whether pursuant to the
<br />Agreement, in quantum meruiC, or otherwise. (TMA previously filed
<br />that action bearing file number 93-CVS-847 in the Superior Court for
<br />
<br />
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