HomeMy WebLinkAboutC.054.93010_0387 (2)Section 2. Each Expenditure was and will be either (a) of a type properly chargeable to
capital account under• general federal income tax principles (determined in each case as of the date
of the Expenditure), (b) a cost of issuance with respect to the Bonds, (c) a nonrecurring item that
is not customardv pavable from current revenues, or (d) a grant to a party that is not related to or
an agent of the Issuer ,so long as such grant does not impose any obligation or condition (directly
or indirecth) to repnv ariv amount to or for the benefit of the Issuer.
Section 3. The maximum principal amount of the Bonds expected to be issued for the Project
is $8,400,000,
Section 4. The issuer will make a reimbursement allocation, which is a written allocation
by the Issuer that evidences the Issuer's use of proceeds of the Bonds to reimburse an Expenditure,
no later than 18 months after the date on which the Expenditure is paid or the Project is placed in
service or abandoned, but in no event more than three years after the date on which the Expenditure
ispaid. The Issuer recognizes that exceptions are availableforcertain "preliminarvevpendinires•'
costs of issuance, certain de nuntmis amounts, expenditures by "small issuers'* (based on the rear
of issuance and not the year of expenditure) and expenditures for construction projects of at least
five years.
,Section 5. This resolution .shall take effect immediately upon its passage.
Exhibit A consists of the following:
DESCRIPTION Or PROJECT
The Project consists of the following components:
1. Construction of a new elernentan, school;
2. Construction of a school administration building; and
3. Construction of a lined landfill cell.
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8. REQUEST FOR APPROVAL OF ADDITIONS TO THE RULES OF PROCEDURE:
PERTAINING TO THE MINUTES OF THE iREDELL COUNTY BOARD OF
COMMISSIONERS: The following additions were approved to be incorporated into the board's
Rules of Procedures. A provision is included in the additions that gives "blanket approval" of future
closed session minutes. (The wording that has been underlined and is typed in bold print indicates
the additions to be included in Section (25) Minutes.)
(25) Minutes
Minutes shall be kept of all meetings of the board, and the following procedures shall be
used for adoption.
(a) Adoption of the briefing and regular minutes shall occur at the next regularly
scheduled meeting Budget session minutes shall be adopted at the next regularly scheduled
meeting or as soon thereafter as is practical.
b Closed ses ion minutes sball be adopted "on the spot" and shall be sealed
automatically. Authorization shall be given to the county manager to periodically review the
sealed minutes to determine if the need for confidentiality continues to exist. Should
confidentialiq no longer be nee ed t e County manager m unseal the closed session
minutes.
(cl A copy of the adopted and unsealed miputes shall be sent to the North Carolina
Department of Cultural ResourceslDivision of Archives and History for microfilming.
9. REQUEST FOR APPROVAL OF THE FEBRUARY 20, 2001 AND MARCH 20, 2001
MINUTES
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