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422 <br /> <br />elements through State General Obligation Bonds (subject to a vote <br />of the citizens) for the following purposes: $145 million for water <br />and sewer projects, $250 million for community colleges, $310 <br />million for universities, and $35 million for state parks; and <br /> <br /> WHEREAS, the overall bond package comprises a sound package <br />that will aid counties across the state in preparing their local <br />workforce and boosting local economic development efforts; and <br /> <br /> WHEREAS, the state clean water bonds could help Cabarrus <br />County meet its critical water and sewer needs, totalling <br />$131,765,760; and <br /> <br /> WHEREAS, the community college bonds will specifically provide <br />$1,573,312 million for a classroom building at the Cabarrus County <br />Campus of the Rowan-Cabarrus Community College which serves the <br />citizens of our county; and <br /> <br /> WHEREAS, the State Bond Referendum is timely given the <br />extremely low interest rates of General Obligation Bonds and the <br />strong financial reputation of the State; and <br /> <br /> WHEREAS, the North Carolina Association of County <br />Commissioners has endorsed the entire State Bond Package, and <br />expressed its especially strong support for bonds for local water <br />and sewer projects and community college facilities. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED that the Cabarrus County Board <br />of Commissioners supports the upcoming State Bond Referendum to be <br />held on November 2nd, 1993 and urges each citizen to learn more <br />about the upcoming State Bond Referendum to be held on November 2nd, <br />1993, and also urges each citizen to use his or her right to vote to <br />have a voice in the outcome of the State Bond Referendum. <br /> <br />This the 4th day of October, 1993. <br /> <br /> /s/ Carolyn B. Carpenter <br /> Carolyn B. Carpenter, Chairman <br />ATTEST: <br />/s/ Frankie F. Bonds <br />Frankie F. Bonds, Clerk to the Board <br /> <br />Resolution in Support of the Proposed Constitutional Amendment Allowing the <br />Issuance of Economic Development Financing Bonds <br /> <br /> UPON MOTION of Commissioner Fennel, seconded by Chairman Carpenter and <br />unanimously carried, the Board adopted the following Resolution. <br /> <br /> RESOLUTION <br /> IN SUPPORT OF THE PROPOSED <br /> CONSTITUTIONAL AMENDMENT ALLOWING THE <br />ISSUANCE OF ECONOMIC DEVELOPMENT FINANCING BONDS <br /> <br /> WHEREAS, the voters of North Carolina will have an opportunity <br />on November 2nd to approve a proposed amendment to the State <br />Constitution to allow local governments to issue Economic <br />Development Financing Bonds; and <br /> <br /> WHEREAS, Economic Development Financing Bonds provide local <br />governments with an important means of financing public <br />improvements, such as water lines and access roads, that are needed <br />to support new business and industrial development; and <br /> <br /> WHEREAS, a positive vote for Economic Development Financing <br />Bonds will add North Carolina to the list of 41 other states that <br />allow local governments 'to use this means of financing; and <br /> <br /> <br />