HomeMy WebLinkAboutC.054.93010_1100 (2)AND/OR EQUIPPING OF THE MITCHELL COMMUNITY COLLEGE ADVANCED
TECHNOLOGY WORKFORCE DEVELOPMENT BUILDING
WHEREAS, Iredell County will make expenditures on and after the date hereof with
respect to expenses incurred and to be incurred (the "Expenditures") in connection with the
construction, renovation and/or equipping of a building to be known as the Mitchell Community
College Advanced Technology Workforce Development Building (the "Project"); and
WHEREAS, the Iredell County Board of Commissioners (the "Board") has determined
that the funds advanced from the General Fund and to be advanced to pay expenditures are or
will be available for a temporary period and it is necessary to reimburse the Issuer for
Expenditures made on and after the date hereof with respect to the Project from the proceeds of
one or more tax-exempt County financings under Section 160A-20 of the General Statutes.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD AS FOLLOWS:
Section 1. The Board hereby adopts this declaration of official intent under Treasury
Regulation Section 1.150-2 and declares its intent to reimburse the issuer with the proceeds of a
tax-exempt financing for Expenditures made on and after the date hereof with respect to the
Project.
Section 2. The maximum principal amount of debt expected to be issued for the
expenditures of the Project is One million one hundred thousand dollars ($1,100,000.00).
Section 3. 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 financing, (c) a nonrecurring
item that is not customarily payable 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 indirectly) to repay any amount to or for the benefit of the County.
Section 4. The County will make a reimbursement allocation, which is a written
allocation by the County that evidences the County's use of proceeds of the financing to
reimburse an Expenditure, no later than 18 months after the later of 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 is paid.
Section 5. This resolution shall take effect immediately upon its passage.
This the W day of April 2003.
rt 4 i • M
13. Request for a Decision Regarding the Proposed Lease & Construction Up -fit
for the North Carolina Department of Environment & Natural Resources at the
Iredell County Government Center -South: (see briefing minutes)
14. Request for Approval of the April 1, 2003 Minutes
---------------------------------------END OF CONSENT AGENDA ----------------------------
Request for Consideration and/or a Decision Regarding a Joint Project
with the City of Statesville Pertaining to a Proposed Parking Lot (Front & Meeting
Streets): Director of Support Services Vernon said the proposed parking project
would serve county employees, the general public, and the users of the Statesville Civic
Center. He estimated that 109 parking spaces might be obtained by the $307,247
city/county project. Vernon shared the following cost estimates.
Demolition (no disposal fees)
Motel at 109 South Meeting Street & Recreation building
$10,000
Vance building at 122 West Front Street
0
Vance swimming pool area (demolish store fronts &
asbestos removal)
53,200
GradingBackfill
20,575
Stone
21,400
Curb/Cutter ($17/LF)
21,425