HomeMy WebLinkAboutC.054.93011_0670 (2)IREDELL COUNTY BOARD OF COMMISSIONERS
MINUTES FOR THE JOINT MEETING WITH THE
IREDELL-STATESVILLE BOARD OF EDUCATION
BRIEFING SESSION FOR THE REGULAR MEETING OF
APRIL 19, 2005
The Iredell County Board of Commissioners met with the Iredell-Statesville Board of
Education on Tuesday, April 19, 2005, at 5:00 p.m., in the Iredell County Government Center
(South Wing Conference Room), 200 South Center Street, Statesville, NC.
Commissioners in Attendance were:
Chairman Sara Haire Tice
Vice Chairman Godfrey Williams
Steve D. Johnson
Marvin Norman
Ken Robertson
County staff present: County Manager Joel Mashburn, Finance Director Susan
Blumenstein, and Clerk to the Board Jean Moore.
Board of Education Members in Attendance were:
David Cash, Chairman
Tara Cashion, Vice Chairman
Jim Head
Charles Kelly
David Parker
Keith Williams
Absent: Dr. Ken Wilson
School staff present were: Dr. Terry Holliday (Supt.), Dr. Steve Lane, (Deputy Supt.),
and Dr. Kenny Miller (Director of Maintenance Services).
Others present included: Members of the Joint School Task Force, the media, and other
interested parties.
CALL TO ORDER
Chairman Tice called the board of commissioners to order.
Chairman Cash called the school board to order.
Distribution of a 20 -Year and 25 -Year General Obligation Bond
Spreadsheet, a Proposed Calendar for a County -wide School Bond Referendum
and a Certificates of Participation Calenclur, along with a copy of a Resolution
from the Iredell-Statesville Board of Education: Iredell County Finance Director
Blumenstein discussed two charts showing the estimated tax increase for a 20 and 25 -
year bond. The information is as follows:
* same bond amount as 20 -year
25 -Year General Obligation Bond
Maximum Annual Debt Service FY 2006-07
20 -Year General Obligation Bond
Maximum Annual Debt Service FY 2006-07
Principal
GO Bond
Amount
Interest
Only
Principal Interest Total Est. Tax
Increase
Iredell-Statesville
Schools
$36,400,000
$ 773,500
$1,820,000 $1,508,325 $3,328,325 2.29
Mooresville
10,500,000
223,125
525,000 435,094 960,094 0.66
Mitchell College
3,000,000
63,750
150,000 124,313 274,3130.19
1,060,375
2,495,000 2,067,732 4,562,732 3.14
* same bond amount as 20 -year
25 -Year General Obligation Bond
Maximum Annual Debt Service FY 2006-07
Interest Only
6113(2006
Principal
Interest Total Est. Tax
Increase
*tredeu-Sut—itte $ 791,700
$ 1,456,000
$ 1,551,732 $ 3,007,732 2.07
* Mooresville 228,375
420,000
447,615 867,615 0.60
*Mitchell College 65,250
120,000
127,890 247,890 0.17
1,085,325
1996,000 1
2127,237 4,123 237 2.84
* same bond amount as 20 -year