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2008 - XY <br />EE COUNTY <br />Committed Today for a Better Tomorrow <br />RESOLUTION <br />FOR <br />LEASE - PURCHASE OF MODULAR POD UNITS <br />FOR <br />LEE COUNTY HIGH SCHOOL <br />WHEREAS, the Lee County Board of Education ( LCBOE) has taken bids for the lease- purchase <br />of modular pod units to be located on the campus of Lee County High School, and <br />WHEREAS, the low bid was submitted by Modular Technologies, Inc. (MTI) which calls for four <br />(4) annual payments of Two Hundred Seven Thousand Six Hundred Fifty Three and 64/100 <br />Dollars ($207,653.64) beginning on February 1, 2009, and a like sum on February 1, 2010, <br />2011, and 2012, and <br />WHEREAS, North Carolina General Statute (GS) 115C -528 authorizes local Boards of <br />Education to finance the lease- purchase of mobile classroom units but provides that the <br />contract under this statute is considered to be a continuing contract for capital outlay and <br />• subject to G.S. 115C -441 (c1); and <br />WHEREAS, the LCBOE approved the lease- option contract with MTI at its meeting on <br />November 20, 2008, contingent upon receiving a resolution adopted by the Board of <br />Commissioners approving the contract for capital outlay expenditures, and <br />WHEREAS, G.S. 115C -441 (c1) specifically provides that the adoption of such a resolution shall <br />bind the Board of Commissioners to appropriate sufficient funds in the ensuing fiscal years to <br />meet the amounts to be paid under the contract in those years, and <br />WHEREAS, the Board of Commissioners has heretofore appropriated funds for this project and <br />an unencumbered balance remains in the appropriation sufficient to pay in the current fiscal <br />year the sums obligated by the transaction for the current year; <br />NOW, THEREFORE BE IT RESOLVED by the Board of Commissioners that it approves the <br />LCBOE's contract with Modular Technologies, Inc. for the lease- purchase of two modular <br />classroom pods to be located at Lee County High School with a lease for forty eight (48) months <br />and calling for four (4) annual payments on February 1, 2009, 2010, 2011, and 2012 in the <br />amount of $207,653.64, for a total of $830,614.56. <br />Adopted this 1 s ` day of December 2008. <br />ATTEST: <br />• J <br />r Ga ell M. Lee, Clerk <br />Chairman <br />Lee County Board of Commissioners <br />