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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 - Southwest Elementary School <br />Reimbursement Resolution <br />BRIEF SUMMARY: <br />It is requested that the County advance its own funds to pay certain <br />original expenditures associated with the new Cabarrus County <br />Southwest Elementary School Project. Approval of the attached resolution <br />will allow the County to pay the original expenditures then reimburse itself <br />for the expenditures with the proceeds of the debt to be incurred by the <br />County for the 2018 Limited Obligation Bonds. A budget <br />amendment and Limited Obligation Bonds 2018 Project Ordinance is also <br />included to record the estimated construction project expenditure and debt <br />proceeds to cover the construction expenditure. The establishment of a <br />budget is required for a construction contract to be pre -audited. <br />REQUESTED ACTION: <br />Motion to adopt the reimbursement resolution and authorize the Chairman <br />to sign the reimbursement agreement for the new Southwest Elementary <br />School; and approve the related budget amendment and the Limited <br />Obligation Bonds 2018 Project Ordinance. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Susan Fearrington, Finance Director <br />BUDGET AMENDMENT REQUIRED: <br />F-6 Page 94 <br />