HomeMy WebLinkAboutC.054.93009_1170 (2)Dr. Carrigan said it was 1994. Dr. Carrigan acknowledged that the
system borrowed $11 million but was paying $17 million. Dr. Carrigan
stated that Mooresville had built around 30 classrooms with the money.
Commissioner Madison asked if borrowing more money would limit the
system's response to school needs in the future. Dr. Carrigan said it
would; however, the COPS money was obtained during a time of growth and
the borrowing needed to be done.
Mr. Madison said that both school systems would be impacted by the
borrowing. Each system would be limited as to what its options were in
the future. He mentioned that when financing was done to fix commodes
and to do painting that trouble was surfacing. He mentioned that the
schools needed to have routine maintenance and that the proposed 1996
bond looked like a maintenance bond. Further, Mr. Madison said that to
say the bond would not raise taxes was a lie.
Commissioner Boone stated it was his opinion that unless there was
a drastic economic downturn or interest rates rose sharply, that the
bond could be paid without raising taxes. It could be done without
raiding the County's fund balance.
Susan Blumenstein, County Finance Officer, explained that the
specific bond projects were not legally binding. As a matter of fact,
bond counsel recommends that projects not be too specific. She
mentioned that on the 1992 bond proposal that the Board of Commissioners
requested that projects be listed on the ballot. Commissioner Boone
said he thought it would be good to put something on the ballot.
Commissioner Johnson asked Blumenstein if being too specific would
bind the school systems if an emergency occurred, and Blumenstein
responded yes.
The county manager said that in order to sell the bond to the
public that the citizens would have to know where the money was supposed
to be spent. The public would then, hold the school systems
accountable.
MOTION by Chairman Haire to authorize the County Finance Officer
to submit an application for a Bond Referendum to the Local Government
Commission.
VOTING: Ayes - 4; Nays - 1 (Madison)
ADJOURM=3 MOTION by Chairman Haire to end this meeting but to
continue on Tuesday, February 20, 1996, 4:00 p.m., for the purpose of
hearing final jail plans by J.N. Pease and Associates. The meeting will
be in the South Wing Conference Room, 200 South Center Street,
Statesville, NC.
VOTING: Ayes - 5; Nays - 0
Approved: A", /,T� s ], - k
L Clarkto. Board
FE0.1 X 1996
341