Laserfiche WebLink
502 <br /> <br /> The Board of Commissioners for the County of Cabarrus met in adjourned <br />session at the County Courthouse in Concord, North Carolina, on Wednesday, <br />February 22, 1984, at 7:00 P.M. <br /> Present - Chairman: James W. Lentz <br /> Commissioners: Archie Y. Barnhardt <br /> Marcelle Milloway <br /> J. Harold Nash <br /> Kenneth F. Payne <br /> Mr. John R. Boger, Jr.~, County Attorney, reported on the upcoming <br />water bond referendum and the investigation by the bond attorney of <br />any legal problem regarding the scheduled annexation of an area of the <br />Water and Sewer District by the City of Concord. He stated that the bond <br />attorney had advised him after reviewing the Consent Decree in the <br />annexation .legal proceedings and researching annexation laws that the <br />County could continue with the bond referendum on March 20, 1984, as <br />the area would not be annexed into the City until June 30, 1986. <br /> At the request of Commissioner Milloway,.the County Attorney reviewed <br />the reason for the formation of the service district as established <br />by the Board of Commissioners. Also, the Board discussed the issuance <br />of General Obligation bonds for the district and the pay back of these <br />bonds as well as other financing required for the water system. <br /> UPON MOTION of Chairman Lentz, seconded by Commissioner Nash with <br />Chairman Lentz and Commissioners Nash and Payne voting for and Commissioners <br />Milloway and Barnhardt voting against, the Board agreed it was the intent <br />of the Board to finance the proposed Cabarrus County Water System as <br />follows. <br /> <br />$5,574,000.00 <br /> (Farmers Home Administration <br /> Loan at 9.125% interest for <br /> 40 years) <br /> <br />User Fees <br /> <br />$1,500,000.00 <br /> (County Designated) <br /> <br />1/2¢ Sales Tax <br /> <br />$1,697,000.00 <br /> (General Obligation Bonds <br /> be repaid at approximately <br /> $170,000.00 per year) <br /> <br />1/2¢ Sales Tax <br /> <br /> Commissioner Barnhardt stated the need for coordination between the <br />City of Concord Planning Department and the County Planning Department <br />to prevent the occurrence of any problems when an area is annexed into <br />the City. He also stated the engineers should contact the City of Concord <br />regarding the sizing of lines for the area to be annexed to ensure that <br />the lines are compatible with the lines planned by the City. Chairman <br />Lentz directed that a letter be sent to the City of Concord stating the <br />County's desire to coordinate planning activities with the City of Concord. <br /> There being no further business to come before the Board, the meeting <br />was adjourned. <br /> <br />Clerk to the Board <br /> <br /> <br />