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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />AGENDA CATEGORY: <br />Consent Agenda <br />FEBRUARY 19, 2018 <br />6:30 P.M. <br />SUBJECT: <br />Finance - Cabarrus County Schools Agency Agreement - New Southwest <br />Elementary School <br />BRIEF SUMMARY: <br />The attached Cabarrus County Schools (CCS) Agency Agreement, <br />among other items, allows the County to appoint the Cabarrus Board of <br />Education as its agent in connection with the construction and equipping <br />of a new elementary school. <br />The Cabarrus Board of Education shall cause the new elementary school <br />project to be completed in accordance with the respective construction <br />documents and any applicable requirements of governmental authorities <br />and law. The County and Board of Education agree that all amounts <br />received as refunds of state sales tax, with respect to expenditures made <br />in connection with the project will be deposited as funds available for the <br />acquisition and construction of the project or used to pay debt service on <br />the installment financing issued to fund this project. <br />REQUESTED ACTION: <br />Motion to approve the Cabarrus County Schools Agency Agreement for <br />the new elementary school project, subject to review and revision by the <br />County Attorney. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Susan Fearrington, Finance Director <br />F-5 Page 86 <br />