1118_commissioners_agenda_full_2024

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August 19, 2024 (Regular Meeting) Page by the County after June 30, 1993, including, without limitation, a requirement that the County timely declare its official intent to reimburse certain expenditures with the proceeds of debt to be issued thereafter by the County. (b) The County has advanced and/or will advance its own funds to pay certain capital costs (the "Original Expenditures") associated with financing, in whole or in part, (i) the design, acquisition, construction, installation and equipping of a new facility housing classrooms, labs, offices and support space to provide career credits in public safety, focused healthcare, education, local government and physical education programs, including the acquisition of necessary land, easements and rights -of -way, (ii) site development, (iii) any and all related utilities relocation and (iv) various real and/or personal property improvements related to any of the foregoing (collectively, the "RCCC Workforce Innovations Center Project"). (c) The funds heretofore advanced or to be advanced by the County to pay the Original Expenditures are or will be available only on a temporary basis, and do not consist of funds that were otherwise earmarked or intended to be used by the County to permanently finance the Original Expenditures. (d) As of the date hereof, the County reasonably expects that it will reimburse itself for such Original Expenditures with the proceeds of debt to be incurred by the County, and the maximum principal amount of debt to be incurred with respect to the RCCC Workforce Innovations Center Project is expected to be $47,000,000. (e) All Original Expenditures to be reimbursed by the County were paid no more than 60 days prior to or will be paid on or after the date of, this declaration of official intent. The County understands that such reimbursement must occur not later than 18 months after the later of (i) the date the Original Expenditure was paid; or (ii) the date the Workforce Innovations Center Project was placed in service or abandoned, but in no event more than 3 years after the Original Expenditure was paid. 2. This resolution shall take effect immediately. I, Lauren Linker, Clerk to the Board of Commissioners for the County of Cabarrus, North Carolina, DO HEREBY CERTIFY that the foregoing is a true copy of so much of the proceedings of said Board of Commissioners at a regular meeting held on August 20, 2024, as relates in any way to the passage of the resolutions hereinabove referenced, and that said proceedings are recorded in Minute Book No. [41 ] of the minutes of said Board of Commissioners, beginning at page and ending at page I DO HEREBY FURTHER CERTIFY that the schedule of regular meetings of said Board of Commissioners has been on file in my office pursuant to North Carolina General Statutes §143-318.12 as of a date not less than seven (7) days before said meeting. WITNESS my hand and the corporate seal of said County, this 19th day of August 2024. /s/ Lauren Linker Clerk to the Board of Commissioners for the County of Cabarrus, North Carolina [SEAL] (H) REPORTS (H-1) BOC - Receive Updates from Commission Members Who Serve as Liaisons to Municipalities or on Various Boards/Committees Commissioner Wortman, Active Living and Parks liaison, reported the pool at Camp T.N. Spencer Park is only open on weekends now through Labor Day. Several parking lots at various facilities are being sealed and asked the public to please be patient during the process. He also reported the Cabarrus Visitors Bureau overall income revenue for 2023. Vice Chairman Shue, Water and Sewer Authority liaison, reported that the Water and Sewer Authority's former director, Mike Wilson, retired from his role and the new director is Mr. Chad Von -Cannon. He announced there will be a ribbon cutting for the completion of the current project October 3, 2024, and invited everyone to attend. Page 62