Alamance County
NC

Action Item
2020-24

ABSS Lottery Fund Debt Service Application

Information

Department:County ManagerSponsors:
Category:Authorization

Attachments

  1. Printout
  2. Lottery Application FY 2020.pdf

Issue/Action Requested

Board will consider a Lottery Fund request for $1,459,068.00 to pay annual debt service per the FY19-20 Alamance County Capital Plan.

 

Background/Purpose of Request

At their February 24, 2020 meeting, the Board of Education for Alamance-Burlington School System approved this Lottery fund request per a Memorandum of Understanding approved by the Board of Education and the Board of Commissioners on August 19, 2019. 

 

Meeting History

Mar 2, 2020 9:00 AM  Alamance County Board of Commissioners Regular Meeting

County Manager Hagood spoke that had a number of items that pertained to the education bonds process to present. He said that the first request was to use North Carolina lottery funds in the amount of $1,459,068 for debt service. He indicated that the Board of Commissioners and the Board of Education had approved a memorandum of understanding for this particular use of these dollars for this purpose.

RESULT:APPROVED [UNANIMOUS]
MOVER:Bill Lashley, Commissioner
SECONDER:Steve Carter, Vice Chairman
AYES:Bill Lashley, Amy Scott Galey, Steve Carter, Eddie Boswell, Tim D. Sutton