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69 <br /> <br /> The Board of Commissioners for the County of Cabarrus met in regular <br />session at the County Courthouse in Concord, North Carolina on Monday, <br />April 3, 1989, at 3:00 P.M. <br /> Present - Chairman: James W. Lentz <br /> Commissioners: William G. Hamby, Jr. <br /> Martha H. Melvin <br /> Billy J. Simmons, Jr. <br /> Absent - Commissioner: R. Giles Moss <br /> Commissioner Hamby was absent for the beginning of the meeting. <br /> The invocation was given by Reverend Michael Wood of the Concord Christian <br />Church. <br /> UPON MOTION of Commissioner Simmons, seconded by Commissioner Melvin and <br />unanimously carried, the minutes of March 13, 16, and 20, 1989 were approved as <br />written. <br /> Mr. Perry St. John, Architect with Dennis Yates Associates, presented an <br />update on the construction of the Cabarrus County Governmental Center. He <br />estimated the project to be 40 percent complete at this time. <br /> Mr. Blair Do Bennett, Finance Director, reported that he had authorized <br />a $500.00 study by L. P. Cox Company to determine the impact of the Governmental <br />Center construction on the Cresent Construction Company building which is located <br />adjacent to the site. Also, he informed the Board that J. N. Pease Associates, <br />Engineering Consultant, had recommended the reinforcement of the beams for the <br />gallery and commission chamber at a total cost of $4,343.00. <br /> Commissioner Hamby arrived at 3:15 P.M. and was present for the remainder <br />of the meeting. <br /> UPON MOTION of Commissioner Melvin, seconded by Commissioner Simmons and <br />unanimously carried, the Board approved the following Governmental Center <br />construction change order. <br /> <br />General Construction Change Order Number CA12-G(6) - L. P. Cox <br />Company, Inc. $4,343.00 as follows: <br /> <br />Additional Rebar <br />Additional Labor <br /> SUBTOTAL <br />Overhead & Profit <br /> TOTAL <br /> <br />$3,123.00 <br />825.00 <br />$3,948.00 <br />395.00 <br />$4,343.oo <br /> <br /> Mr. Blair D. Bennett, Finance Director, reported that the County had <br />received cash and stocks from the estate of Margaret M. Holt currently valued <br />at approximately $51,000.00. He explained that the Holt Will specified that <br />funds are to be used to establish a Holt Art Collection in the Kannapolis <br />Library and Holt Scholarship Fund for Cabarrus County Schools. Mr. Bennett <br />requested authorization to sell all the stocks at one time using the services <br />of the County's approved broker, Merrill Lynch. <br /> UPON MOTION of Chairman Lentz, seconded by Commissioner Hamby and <br />unanimously carried, the Board authorized Mr. Blair D. Bennett, Finance <br />Director, to use the County's approved broker, Merrill Lynch, to sell the <br />following donated stocks from the estate of Margaret M. Holt at such time Mr. <br />Bennett thinks the stocks to be at their highest level. <br /> <br /> CABARRUS COUNTY <br />DONATED STOCK FROM THE MARGARET M. HOLT ESTATE <br />MARKET VALUE OF STOCKS AS OF MARCH 14, 1989 <br /> <br />AMOCO <br />EATON VANCE TOTAL RETURN TRUST <br />CAROLINA POWER & LIGHT CO. <br />EXXON <br />INVESTORS TITLE CO. <br />JEFFERSON PILOT CORP. <br />LANCE <br />PFIZER INC. <br />ROSES STORES TYPE A <br />WASHINGTON MUTUAL INVESTOR FUND <br /> <br />VALUE <br />PER <br />SHARES <br /> 80 75 <br /> 8 44 <br /> 35 50 <br /> 44 88 <br /> 6 25 <br /> 34 25 <br /> 18 38 <br /> 55 38 <br /> 9 O0 <br /> 13 54 <br /> <br />NUMBER <br />OF MARKET <br />SHARES VALUE <br />33 2664.75 <br />1053 8887.32 <br />33 1171.50 <br />33 1481.04 <br />487 3043.75 <br />17 582.25 <br />33 606.54 <br />33 1827.54 <br />33 297.00 <br />65 880.10 <br /> <br /> UPON MOTION of Chairman Lentz, seconded by Commissioner Simmons and <br />unanimously carried, the Board adopted the following Capital Project Ordinance <br />for the Cabarrus County Schools' Bond Fund. <br /> <br /> <br />