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CHAPEL HILL-CARRBORO CITY SCHOOLS <br /> Lincoln Center, Merritt Mill Road <br /> Chapel Hill, North Carolina 27516 <br /> Telephone: (919) 967-8211 <br /> Neil G. Pedersen Ann Hart, Assistant Superintendent <br /> Superintendent for Instructional Services <br /> Chester Prayer, Assistant Superintendent <br /> for Support Services <br /> TO: Board of Education <br /> FROM: Neil G. Pederse <br /> Superintendent Oe <br /> RE: Resolution in Support of County Financings for School <br /> Construction under Section 160A-20 <br /> DATE: January 19,= 1994 <br /> The Orange County Commissioners have requested that the two Boards <br /> of Education in the County adopt the attached resolution to introduce legislation <br /> which is required to facilitate the financing of a new elementary school through <br /> the sale of Certificates of Participation. <br /> The legislation allows the Board of Education to transfer ownership of <br /> land that it currently owns to the County Commissioners for the purpose of <br /> constructing a school. Present legislation allows school boards to transfer <br /> property only if it is surplus. It is necessary to transfer the property to the County <br /> Commissioners because they have authority to finance the construction of a <br /> facility by mortgage whereas school boards do not. Final details will be worked <br /> out in a specific, written inte rgovem mental cooperative agreement as provided <br /> under G.S. 160A. <br /> The legislation was drafted by the County's bond council; therefore, the <br /> wording should not be changed. John McCormick has reviewed and approved <br /> the legislation. The resolution was adopted by the County Commissioners on <br /> January 18, 1994. <br /> RESOLUTION ATTACHED <br />