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Agreement, each in the form presented to and approved by the Commissioners and do further authorize
such officials to proceed with the execution, delivery and closing of the Loan Agreement and the
Reimbursement and Indemnity Agreement and to provide such documents, exhibits, certificates, state-
ments, financial statements and schedules specified herein and in the Loan Agreement or any related
agreement, and to seek such opinions as to matters of law from County Attorneys and other attorneys
as contemplated by the Loan Agreement.
Resolution adopted and approved this the 21st day of March 1989.
Ayes - 5; Nays - 0.
MANAGER'S REPORT:
Mr. Mashburn reported that the Harmony Mayor, John Ray Campbell, called to say that some of the
businessmen and women of the community contributed the money for the installation of the flag pole
and flag at the Harmony Office Building, and the garden club would like to have an opportunity to
landscape the area around the flag pole.
Commissioner Crosswhite said she thought it was a wonderful suggestion.
CLOSE OUT ON THE COMMUNITY DEVELOPMENT GRANT AT I-77 & NC 150, MOORESVILLE: Mr. Mashburn said
he met with Mr. Bob Stark and Mr. Jack Kiser at different times, and they are proceeding as planned.
Yoko, one of the signers of the commitment to development when the grant proposal was written, now
has a substitute. Mr. Mashburn said he would like to get it closed so the County can move forward
with other projects.
EXECUTIVE SESSION: MOTION from Commissioner Stewart to enter Executive Session for the purpose
'. of discussing personnel and legal matters.
VOTING: Ayes - 5; Nays - 0.
MOTION from Commissioner Stewart to leave executive session.
VOTING: Ayes - 5; Nays - 0.
WEST IREDELL WATER CORPORATION - LOAN TO PAINT THE INSIDE OF THE WATER TANK:: MOTION from
Commissioner Hedrick to lend $28,500 to West Iredell Water Company to be repaid in five years, with
the interest rate on the money to be the same as Wachovia Bank & Trust Company's prime interest
rate. Funds to come from Contingency or Unappropriated Fund Balance, which ever is the best source
according to the discretion of the Finance Officer.
VOTING: Ayes - 5; Nays - 0.
PURCHASE OF WATER IMPOUNDMENT ON ROCKY CREEK: MOTION from Commissioner Stewart:
WHEREAS, Iredell County employed Camp Dresser & McKee to conduct Water and Sewer Studies and
received the reports of those studies; and
WHEREAS, those reports and other reports have recommended that the County locate and acquire a
source of water in North Iredell County, particularly on the waters of Rocky Creek; and
WHEREAS, the Strategic Planning Committee, VISIONS Economic Development Task Force, further
studied the matter of water and sewer needs in Iredell County and strongly recommended the acquisi-
tion of an impoundment source on Rocky Creek; and
WHEREAS, the Greater Statesville Chamber of Commerce has publicly urged the County to adopt and
implement the water and sewer plan recommended by the Camp Dresser & McKee study; and
WHEREAS, there exists on Rocky Creek and excellent source of water and an excellent impoundment
location sufficient to serve the needs of many of the citizens of Iredell County and its municipali-
ties; and
WHEREAS, the owners of that potential impoundment area on Rocky Creek have offered that proper-
ty to the County as a source of water for the citizens of the County at price that seems fair and
reasonable;
NOW, THEREFORE, it is resolved that Iredell County exercise such option heretofore acquired on
the property, which has been under discussion with the owners of the property since shortly after
the present owners acquired the property, and pay the owners the agreed purchase price of $62,500
(which is the owners' cost of the property), upon accurate survey being performed and the title
being certified and fee simple title being delivered.
VOTING: Ayes - 5; Nays - 0.
ADJOURN: Chairman Sloan adjourned the meeting at 11:05 p.m.
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