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Board approves preliminary resolution to pursue refunding of 2016 school LOBS

Cabarrus County Board of Commissioners · February 18, 2026

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Summary

Staff presented a public hearing and asked for approval of a preliminary resolution to refund 2016 limited obligation bonds used for three schools; the board approved the preliminary resolution and staff will file an application with the Local Government Commission ahead of a March resolution to sell bonds.

Staff explained a public hearing on refunding the county's 2016 limited obligation bonds (LOBS), which financed improvements to Kannapolis Middle School, Mount Pleasant Middle School and Royal Oak Elementary. Jim Howden said staff believed refunding could yield $2.5–$3.0 million in savings over the remaining life of the debt and asked the board to approve a preliminary resolution to (a) document the public hearing and (b) authorize staff to prepare an application to the Local Government Commission. No public comments were offered on this item. The board approved the preliminary resolution by motion and voice vote; staff said a final approving resolution and bond sale would be brought back on the March 2 meeting agenda.