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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 - Rowan-Cabarrus Community College - Advanced Technology <br />Center 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 Rowan-Cabarrus <br />Community College Advanced Technology Center project. Approval of the <br />attached resolution will allow the County to pay the original expenditures <br />then reimburse itself for the expenditures with the proceeds of the debt to <br />be incurred by the County for the 2018 Limited Obligation Bonds. A <br />budget amendment and Limited Obligation Bonds 2018 Project <br />Ordinance is also included to record the estimated construction project <br />expenditure and debt proceeds to cover the construction expenditure. The <br />establishment of a budget is required for a construction contract to be pre - <br />audited. <br />REQUESTED ACTION: <br />Motion to adopt the Advanced Technology Center Reimbursement <br />Resolution and authorize the Chairman to sign the reimbursement <br />agreement for the new Rowan-Cabarrus Community College Advanced <br />Technology Center and approve the related budget amendment and <br />project ordinance. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Susan Fearrington, Finance Director <br />F-9 Page 114 <br />