HomeMy WebLinkAboutC.054.93009_1178 (2)MOTION by Commissioner Madison to approve the January 1996
releases and refunds as submitted and certified by the Tax
Assessor.
VOTING: Ayes - 4; Nays - 0
RELEASES FOR THE MONTH OF
JANUARY 1996 $74,728.75
Breakdown of Releases
70,355.02
County
Solid Waste
234.0071
E. Alexander Fire #1
.
49
Shepherd's Fire #2
Fire 13
346.89
Mt. Mourne
All County Fire #4
3,644.64
REFUNDS FOR THE MONTH OF
JANUARY 1996 $15,569.85
Breakdown of Refunds
15,184.32
County
18.00
Solid Waste
E. Alexander Fire 01
2,60
Shepherd's Fire #2
111.00
Mt. Mourne Fire #3
24.62
224.31
All County Fire 14
REQUEST FOR CoNgIDERRTIOM or RESOLUTION REGARDING THE PROPOSED
REFINANCING
TR DEpAAF TET FACILI'LNENT PY MOTION Eby Com CP FOR erE Johns nNLL �to
adopt the following resolution:
REGARDING TRE PEOPOsZD REFINANCING
TER
INSTALLMENT VURCERBE CONTRACT POR TEE XRREDELL COUNTY
EEALTE DEPARTMENT FACILITY
WHEREAS, the iredell County Board of Commissioners desires to
reftinance hta purchase and contract for
helredellCountyHealth Department facility;
WHEREAS, the iredell County Board of Commissioners desires to
refinance the existing contract with First Union National Bank; and
WHEREAS, the Local Government Commission of the North Carolina
Department of the State Treasurer requires that the iredell County
Board of Commissioners make certain findings before the Commission
can grant approval to the County's application for approval of this
particular installment contract as authorized under North Carolina
General Statute 160A, Article 3, Section 20;
THEREFORE, BE IT RESOLVED that the Board of Commissioners of
iredell County, North Carolina, in a regular meeting of the Board,
finds as follows:
1. The proposed project is to refinance an existing
installment purchase contract between Iredell County and First
Union National Bank h
interest until the time of closing of E $2,539,128. estimated accrued
2. The proposed refinancing is necessary and expedient
because the interest rate reductionrom7 $5870000 49% Will will
produce savings to the County of approximately
reduce the number of years to debt retirement from ten to seven.
3. The County will offer a Deed of Trust to First Union
National Bank to fully collaterize he installment allowed in the chant
urchase
contract and no deficiency Judgment
the County defaults on payments. Usingthis method of financing,
there will be no pledge of the County's taxing authority.
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