BC 1992 03 16 - Laserfiche WebLink

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484 NEW BUSINESS CONSENT At the request of Commissioner Simmons, the Board removed from the Consent Agenda the proposed Public Health budget amendment allocating $2,088.38 in Environmental Grant funds to Line Item 860 (Equipment and Furniture). Additional information is to be obtained concerning the proposed allocation of funds. UPON MOTION of Commissioner Barnhart, seconded by Commissioner Hamby and unanimously carried, the Board adopted the following Emergency Medical Services budget amendment. BUDGET REVISION/AMENDMENT REQUEST DEPARTMENT OF EMERGENCY MEDICAL SERVICES AMOUNT $3,500.00 TYPE OF ADJUSTMENT: Supplemental Request PURPOSE OF REQUEST: To set up training grant received from Rowan-Cabarrus Community College. Line Item Present Approved Revised Account Number Budget Increase Decrease Budget 01-6-27-42-504 0 Training & Instructional Fees 3500.00 3500.00 01-9-27-30-301 Office Supplies 01-9-27-30-635 Training & Education 400.00 2615.00 3015.00 6185.00 885.00 7070.00 NEW BUSINESS Commissioner Simmons introduced the following resolution, a copy of which had been provided to each Commissioner and which was read by title: RESOLUTION PROVIDING FOR THE ISSUANCE OF $6,000,000 WATER BONDS, SERIES 1992 BE IT RESOLVED by the Board of Commissioners for the County of Cabarrus: Section 1. The Board of Commissioners has determined and does hereby find and declare: (a) That an order authorizing not exceeding $14,500,000 Water Bonds was adopted by the Board of Commissioners for the County of Cabarrus on February 16, 1987, which order was approved by the vote of a majority of the qualified voters of said County who voted thereon at a referendum duly called and held on May 19, 1987. (b) That $8,500,000 of said Water Bonds have been issued, which bonds are designated "Water Bonds, Series 1989", dated March 1, 1989, that no notes have been issued in anticipation of the receipt of the proceeds of the sale of the balance of said Water Bonds and that it is necessary to issue at this time all of said bonds. (c) That the maximum period of usefulness of the enlargements and extensions of the water system of said County to be provided with the proceeds of said Water Bonds, Series 1992, to be issued is estimated as a period of 40 years from April 1, 1992, the date of said Water Bonds, Series 1992, as hereinafter provided, and that such period expires on April 1, 2032. Section 2. Pursuant to said order, there shall be issued bonds of the County of Cabarrus, North Carolina (the "Issuer") in the aggregate principal amount of $6,000,000, designated "Water Bonds, Series 1992" and dated April 1, 1992 (the "Bonds"). The Bonds shall be stated to mature annually, April 1, $250,000 1993 to 2009, inclusive, $675,000 2010 and 2011 and $400,000 2012, and shall bear interest at a rate or rates to be determined by the Local Government Commission of North Carolina at the time the Bonds are sold, which interest to the respective maturities thereof shall be payable on October 1, 1992 and semi- annually thereafter on April 1 and October 1 of each year until payment of such principal sum. Each Bond shall bear interest from the interest payment date next preceding the date on which it is authenticated unless it is (a) authenticated upon an interest payment date in which event it shall bear interest from such interest payment date or (b) authenticated prior to the first interest payment date in