Laserfiche WebLink
CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />REGULAR MEETING <br />AGENDA CATEGORY: <br />Consent Agenda <br />JUNE 18, 2018 <br />6:30 P.M. <br />SUBJECT: <br />Finance - Limited Obligation Bonds 2018 (Update on Debt Issuance) <br />BRIEF SUMMARY: <br />On May 16, 2018, Limited Obligation Bonds (LOBS) totaling $54,680,000 <br />were sold on behalf of Cabarrus County to finance for 1) Cabarrus County <br />Schools an Elementary School, twenty mobile units, and HVAC <br />replacements at Mt. Pleasant High School and JN Fries Middle School <br />and for 2) Rowan Cabarrus Community College an Advanced Technology <br />Center and Land for future expansion. The Finance Director will provide <br />the outcome of the sale and provide a budget amendment and updated <br />Project Ordinance. <br />REQUESTED ACTION: <br />Motion to approve the budget amendment to record the 2018 Limited <br />Obligation Bond proceeds and the related project ordinance. <br />EXPECTED LENGTH OF PRESENTATION: <br />SUBMITTED BY: <br />Susan Fearrington, Finance Director <br />BUDGET AMENDMENT REQUIRED: <br />Yes <br />COUNTY MANAGER'S RECOMMENDATIONS/COMMENTS: <br />This item was approved by the Board for inclusion on the Agenda as a <br />F-6 Page 346 <br />