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CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br />AGENDAITEM REQUEST <br />Meeting Date 6/18/07 Agenda Item # - ~ 3 <br />SUBJECT: <br />Selection of a Debt Instrument to Fund the New High School and Land Purchase in <br />Kannapolis <br />BRIEF SUMMARY: <br />At the Board's May work session, a proposal was presented to the Board for installment <br />financing of several costs associated with the New High School proposed for the Northwest <br />Area of the County. In January 2008, staff proposed to issue debt for the full cost of the <br />project including funds to purchase a school site for Kannapolis City Schools. Two options <br />are available for this financing: Certificates of Participation or GO Bonds. Details are <br />included in the following memorandum. <br />REQUE$TE~ /~1CT~~N: (Suggested motion if the BoaM approves the agenda item as presented) <br />1. Select a debt instrument to fund the New High School project and land purchase in <br />Kannapolis. <br />2. Consider the inclusion of the following costs for land, architect, engineering, and site <br />preparation for the Phase I projects requested by the Schools. <br />Attachments ^X Yes ^ No Expected Length of Presentation 5 Minutes <br />Submitted By: Pamela S. Dubois, Deputy County Manager Date: 6/4/07 <br />Name / Job Title <br />Budget Amendment Required: ^ Yes ^X No <br />Budget Amendment Attached and Reviewed by Budget Officer: ^ Yes ^X No <br />County Manager's Recommendations/Comments: <br />This item was approved by the Board for inclusion on the Agenda as a New Business item. <br />Action Taken: <br />Approved [ ] Deferred ( ] <br />Denied [ ] Other [ ] <br />