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November 20, 2017 (Regular Meeting) <br />Page 3363 <br />d. At the completion of a construction project, all unrestricted <br />excess funds are transferred to the General Fund and the portion <br />of the Capital Project associated with the project is closed. <br />Adopted this 20th day of November 2017. <br />CABARRUS COUNTY BOARD OF COfM7ISSIONERS <br />BY: /s/ Stephen M. Morris <br />Stephen M. Morris, Chairman <br />ATTEST: <br />/s/ Terri Lea Huoie <br />Clerk to the Board <br />(G-5) Infrastructure and Asset Management - Discussion of Leasing Parking Lots <br />Kyle Bilafer, Area Manager of Operations provided an update on the <br />progress of leasing surface parking lots to help ease the closing of public <br />lots #3 and #4 for the parking deck construction. Funds are being requested <br />from the Board of Commissioners Contingency Fund in the amount of $10,000 to be <br />added to the original $10,000 allocated in the 2017 Limited Obligation Bond <br />Fund for parking lease(s). <br />A discussion ensued. During discussion, Mr. Bilafer responded to questions <br />from the Board. <br />Vice Chairman Honeycutt MOVED to approve parking lot lease(s) subject to <br />the attorney review, and to authorize the Finance Director to prepare the <br />appropriate budget amendment and related 2017 Limited Obligation Bond Project <br />Ordinance. Commissioner Shue seconded the motion. <br />A brief discussion ensued. In response to a question from the Board, Mr. <br />Bilafer stated parking lots #3 and #4 will shut down after the first of the new <br />year and construction of the new parking deck will begin on January 8M. <br />The MOTION unanimously carried. <br />Date: <br />1 11/20/2017 <br />Amount: <br />10,000.00 <br />Dept. Head: Susan Fearrin ton <br />Department: <br />Finance - LOBS 2017 <br />Internal Transfer Within Department <br />0 Transfer Between Departments/Funds 0 Supplemental Request <br />Purpose: <br />This budget amendment records an additional $10,000 for leasing of parking spaces while the <br />Parking <br />Deck is under construction. <br />The $10,000 was approved by commissioners on November <br />20, 2017 to <br />be funded through the projects contingency. <br />Department/ <br />Account <br />Approved <br />increase <br />Decrease <br />Revised <br />Fund <br />Indicator <br />Object/ Project <br />Name <br />Budget <br />Amount <br />Amount <br />Budget <br />369 <br />9 <br />1110 -9401 -DECK <br />Building and Equip <br />Rental - Parking <br />Deck Project <br />10,000.00 <br />10,000.00 <br />20,000.00 <br />369 <br />9 <br />1110 -9660 -DECK <br />Contingency - <br />Parking Deck <br />Project <br />990,000.00 <br />10,000.00 <br />430,000.00 <br />Ordinance No. 2017-68 <br />CASARRUS COUNTY <br />LIMITED OBLIGATION BONDS 2017 PROJECT <br />BUDGET ORDINANCE <br />BE IT ORDAINED by the Board of Commissioners of Cabarrus County, North <br />Carolina that, Pursuant to Section 13.2 of Chapter 159 of the General Statutes <br />of North Carolina, the following capital project ordinance is hereby adopted: <br />Section I. <br />A. The project authorized is for the construction of a Parking Deck. <br />Details of the project are listed in section C. of this Project <br />Ordinance. <br />B. The officers of this unit are hereby directed to proceed with this <br />capital project within the terms of the Generally Accepted Accounting <br />Principles (GAAP) and the budget contained herein. <br />It is estimated that the following revenues will be available to <br />complete capital projects as listed. <br />General Fund Contribution $997,000 <br />