Watch as two children are nearly hit by speeding car while they crossed road to catch school bus

This is the horrifying moment two children were inches from being hit by a speeding car while they crossed the road to catch the school bus in in Statesville, North Carolina.

The video, captured by the bus' on board camera on March 2 on Old Mountain Road, shows the children cross the road before breaking into a run as a car speeds towards them before swerving around the pair with a split second to spare.

North Carolina State Highway Patrol arrested Joseph Graham Padgett Jr., 35, of Statesville, at 2:10 am on Saturday morning, according to WSOC-TV. 

Padgett Jr.'s car passed the bus at around 6:15 am, according to the Iredell-Statesville School District. 

The school bus came to a halt and activated its stop sign as the two children approached the street.

The video, captured by the bus on board camera, shows the children cross the road before breaking into a run as a car speeds towards them before swerving around the pair

A light-colored Kia Soul passed the bus on the left side and came within inches of striking one of the children. The bus was stopped on a two-lane road in a no-passing zone, according to WSOC-TV.

State troopers said Friday afternoon that there were five cases just last year in Iredell County where people had illegally passed a stopped school bus.

According to the school district, drivers must stop their cars and wait until the red lights on a school bus stop are flashing and the extended stop arm is withdrawn. Cars are permitted to start driving again when the bus starts moving. 

The incident occurred on Old Mountain Road, in Statesville, North Carolina, on March 2

Padgett Jr., is scheduled to appear in court on March 16. He is at the Iredell County Detention Center under a $20,000 bond, state troopers said.

Iredell County Sheriff's Office wrote on Facebook: 'Clearly, this call could have been beyond tragic, and thankfully we are praising this child's quick thinking instead of what the alternative could have been.'

The video was released by Iredell-Statesville Schools.