HomeMy WebLinkAboutC.054.93008_2066 (2)VOTING: Ayes - 5; Nays - 0.
ADJOURN: MOTION to adjourn at 1:30 p.m. until Wednesday, April 1, 1992, 7:30 p.m., Statesville
Country Club, Statesville, NC, for meeting with bond rating firm (Moody's). Next regular meeting
will be held at 4:00 p.m on Tuesday, April 7, 1992, for a briefing session, which will be held in
the South Wing Conference Room, Iredell County Government Center, 200 S. Center Street, Statesville.
This will be a regularly scheduled meeting and will be followed by the regular meeting of the board
at 7:30 p.m., in the County Commissioners Meeting Room, Iredell County Government Center,
Statesville, NC.
—7
C er to the Board
APPROVED:''
IREDELL COUNTY BOARD OF COMMISSIONERS
MINUTES
MARCH 31, 1992
The Iredell County Board of Commissioners met in Special Session on Tuesday, March 31, 1992,
10:00 a.m., South Wing Conference Room, Iredell County Government Center, 200 South Center Street,
Statesville, NC. The meeting had been advertised as required for a special meeting. Those present
for the meeting were:
R. B. Sloan Jr., Chairman
Sara K. Haire, Vice Chairman
Doug Madison
Frank Mitchell
Alice Stewart
Staff present: Joel Mashburn, County Manager
William P. Pope, County Attorney
Alice Fortner, Clerk to the Board
Susan Goodman, Finance Director
Carson Fisher, Staff Engineer
Chairman Sloan called the meeting to order and asked the County Manager to proceed with the
business. Mr. Mashburn called upon the County Attorney to explain the resolution that was before
the board for adoption.
Mr. Pope explained the financial arrangements of the bond. He said the County will not be
pledging the taxing authority. They will be be pledging revenues from the landfill, inventory tax
reimbursements, fees from building inspections and fees from the ambulance service. It is not
anticipated that these collaterals will be needed, Mr. Pope said. The board will also be required
to adopt a rate ordinance under which the board agrees that if the landfill fee becomes inadequate
that the oad wl raise the fee
nd
arge for the
take carebofrthe ,ilndebtedness. rMr. Pope said aheathoughtathis hfinancing was aoprudent useholassessment to
ate of the decision.
The board briefly discussed the resolution that is proposed for adoption.
MOTION from Commissioner Madison to approve the resolution which reads as follows:
WHEREAS, North Carolina General Statutes Chapter 1591 seeks to encourage and assist units of
local government in providing solid waste collection and disposal by authorizing counties to borrow
funds and issue special obligation bonds for the acquisition, construction, improvement, or payment
of the cost of solid waste management projects; and
WHEREAS, Iredell County proposes to construct a Solid Waste Disposal Facility, consisting of an
administration building, maintenance building, baler building, all other required land improvements,
and all equipment required for operation; and,
WHEREAS, the Board hereby intends to take official action declaring its intention to issue
Special Obligation Bonds, secured by revenues of the Solid Waste Disposal Enterprise Fund and
certain other County revenues from inspections fees, inventory tax reimbursements, and ambulance
fees to finance all of the project;
NOW, THEREFORE, be it resolved by the Board of Commissioners of Iredell County, State of North
Carolina, as follows:
1. The Iredell County Board of Commissioners hereby determines that, based on an independent
engineer's report, the project is necessary and expedient for the continued sanitary disposal of
waste for all citizens of the County and that the estimated cost of the project is adequate and not
excessive. The Board also determines that the project is feasible and promotes a longer useful life
of the landfill.
2. The Board of Commissioners hereby determines to authorize the issuance of Special Obliga-
tion Bonds of the county in an aggregate principal amount not exceeding Six Million Seven Hundred
Fifty Thousand ($6,750,000) dollars to pay all the cost of the project, such bonds to be secured by
revenues from the Solid Waste Disposal Enterprise Fund and County revenues from inspection fees,
inventory tax reimbursements, and ambulance fees.
3. Iredell County has maintained good debt management policies and procedures.
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