HomeMy WebLinkAboutC.054.93010_0062 (2)3. REQUEST FOR APPROVAL OF TWO LEASE AGREEMENTS FOR TOWER
SPACE (neither agreement requires any expenditure of funds by the county)
A. Mooresville Rescue Squad: This agreement will allow the county to access tower
space at a site located at 119 Rescue Lane in Mooresville. The county will be
allowed to locate radio equipment upon the tower, and in the building, to aid in
public safety emergency communications. The agreement term is for 20 years.
B. Prestige Cable: This agreement will allow the cable company to access tower
space at a site located at 155 South Tower Drive (Rinehart Tower), in Mooresville.
The company will be allowed to locate a single piece of radio equipment, commonly
known as paging terminal or transmitter, a single antenna and associated equipment,
at the height of not greater than 250 ft. The agreement term is for 20 years.
4. REQUEST FOR AUTHORIZATION TO FILE A LOCAL GOVERNMENT
COMMISSION APPLICATION IN REFERENCE TO THE UPCOMING
CERTIFICATES OF PARTICIPATION (COPS) DEBT ISSUE (Note: The finance
director mentioned during the briefing that this type of debt issue (COPS) is now referred
to as an Installment Payment Revenue Bond.)
RESOLUTION AUTHORIZING THE FILING OF AN APPLICATION
FOR APPROVAL OF A FINANCING AGREEMENT
AUTHORIZED BY NORTH CAROLINA GENERAL STATUTE 160A-20
WHEREAS, Iredell County, North Carolina desires to construct Lakeshore Middle School.
Lake Norman High School, and an addition to Mooresville Senior High School to better serve the
students ofIredell County; and
WHEREAS, Iredell County, North Carolina desires to finance the Project by the use of an
installment contract authorized under North Carolina General Statute 160A, Article 3, Section 20;
and
WHEREAS, findings offact by this governing body must be presented to enable the North
Carolina Local Government Commission to make its findings of fact set forth in North Carolina
General Statute 159, Article 8, Section 151 prior to approval of the proposed contract;
NOW, THEREFORE BE IT RESOLVED, that the Iredell County Board of Commissioners,
meeting in Regular ,Session on March 21, 2000 makes the following findings of fact:
1. The proposed contract is necessary or expedient in that it will provide financing for
construction of public school facilities which will relieve the extremely overcrowded conditions in
existing schools.
2. The proposed contract is preferable to a bond issue for the same purpose because:
a. Current appropriations in the County's operating budget are inadequate to jand the
projects.
b. Currently the fund balance available for appropriation is not sufficient to fiord the
projects and maintain adequate levels.
c. The County does not retire enough debt annually to fund this project using the "two-
thirds limitations " rule.
d. The proposed financing is preferable to a General Obligation Bond because all of the
projects are located in southern Iredell County.
e. Revenue Bonds are inappropriate for this project.
3. The cost of financing under the proposed contract is greater than the cost of issuing
general obligation bonds. However, current market conditions indicate the costs comparejitvorab/v