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FUTURE MEETINGS: Chairman Hedrick announced the agenda briefing to be held on Monday, February
F 2, 1987, 12:00 Noon, County Annex Building; the meeting with Iredell County Schools on Monday
evening, February 2, 1987, 7:30 p.m., Agricultural Center; and regular meeting on Tuesday, February
3, 1987, 7:30 p.m., Agricultural Center Conference Rooms 1 and 2.
ADJOURN: Chairman Hedrick adourned the meeting at 10:00 p.m.
erk
APPROVED:
IREDELL COUNTY BOARD OF COMMISSIONERS
MINUTES
FEBRUARY 2, 1987
The Iredell County Board of Commissioners met in Adjourned Regular Session on Monday, February
2, 1987, 7:30 p.m., Agricultural Center Conference Rooms 1 and 2, Statesville, NC. Present for the
meeting were:
Larry S. Hedrick, Chairman
Alice M. Stewart, Vice Chairman
Jessie S. Crosswhite
Frances L. Murdock
I JP Samuel L. Ostwalt
Staff present: J. Wayne Deal, County Manager
William P. Pope, County Attorney
Alice Fortner, Clerk to the Board
F. William Furches, Jr., Finance Officer
Others present: Members of the Iredell County School Board and
Superintendents
CALL TO ORDER: By Chairman Hedrick
INVOCATION: Silent Prayer in Memory of William R. Whittenton,
Jr., Former City of Statesville Attorney, who died
on January 28, 1987.
Chairman Hedrick recognized members of the school board, Superintendent Williams, and assistant
superintendents. Mrs. Dorothy Reep, chairman of the school board, spoke briefly and turned the
discussion over to Superintendent Williams.
Dr. Williams said his board came in a spirit of cooperation and spoke briefly about the goals
of the school board and staff. He raised questions such as: (1) Is there a neod to improve
facilities? (2) How do you pay for it? Property tax? Sales tax? He then recognized Dr. Ivey,
who is responsible for the school auxiliary services. Dr. Ivey discussed at length the Capital
Outlay Needs and estimated costs as laid out in their Phase I and Phase II as presented to the
county commissioners. The total cost of `.he entire project is $25,488,000.
In discussing the building of a new South Iredell High School, which was listed at $8 million,
Chairman Hedrick said he believed that it would be more like $10 to $12 million rather than $8
million.
The question was raised by the school board of how much a school bond indebtedness would be
incurred if the schools used the sales tax funds that are allocated to the school system to repay
the bond.
A question was raised by Commissioner Stewart if the school board intended to fund all the
items included on the list presented, which totaled $25,480,000, in the bond issue. Certain items
such as buses, roof repairs, etc., which are short -life items, would not be practical on a bond
issue, Commissioner Stewart said.
Dr. Williams asked if there was no bond, how should the Mt. Mourne, Troutman and East
Elementary School situations be addressed. He said that he believed the success of a bond referen-
dum would depend on the support of the county commissioners.
Chairman Hedrick said he believed the school at Troutman, sewer at Mt. Mourne, and East Elemen-
tary wing were needed. He also addressed the most recent policy of funding special capital on a per
capita basis for all three school systems.
Dr. Williams inquired if they were capable of repaying $300,000 to $350,000 annually, how much
money could they borrow over a 20 -year period and repay without an ad valorem increase.
After further discussion, Chairman Hedrick said this would be approximately a 19 million bond
for the Iredell County Schools and $14 million overall.
Dr. Williams inquired how much It on the ad valorem tax base brought in. It was stated that
one penny on the ad valorem tax rate would yield $275,000 in revenues.