HomeMy WebLinkAboutC.054.93011_0510 (2)(Note: A Wayside fire truck was wrecked in 2002. Mr. Hall indicated at the
November 23 meeting that it had taken this long to reach an insurance settlement. He said
the settlement of $150,000 would be applied towards the truck debt, along with $50,000
annually, over the next three years, from the Fire Tax District Board.)
(See briefing minutes for additional information regarding the banking proposals.)
Request for Approval of a Project Ordinance for the North Iredell Park:
County Manager Mashburn said the property closing for the North Iredell Park land was
scheduled for December 10, 2004. He said a project ordinance needed to be adopted for
the land acquisition ($310,000.00).
Finance Director Blumenstein said the land costs also included the following:
Sales Price (in accordance with settlement statement) $297,199.51
Settlement charges (closing fee, title insurance,
documentation preparation, recording fees, revenue
stamps 1,811.30
Estimated current year ad valorem taxes and rollback
from farm use 4,289.19
Jordan Surveying 4,800.00
Mountain Environmental (Phase I Study) 1.900.00
$310.000.00
Commissioner Williams asked how much would remain in the parks fund after the
$310,000 deduction.
Blumenstein said $470,563.
Williams asked if this included the loan payment from the Stumpy Creek Park.
Blumenstein said Stumpy Creek's payment of $100,000 would make the parks fund
balance to be $570,563.
OTIO by Commissioner Williams to transfer the $310,000 from the Parks
Capital Reserve Fund to the North Iredell Park Fund and for approval of a Capital Project
Ordinance as requested.
VOTING: Ayes — 5; Nays — 0.
The approved ordinance is as follows:
Capital Project Ordinance
North Iredell Park Fund
Be it ordained by the board of county commissioners of Iredell County, North Carolina:
Section 1. The North Iredell Park Capital Project will be financed by this fund and shall include the
following costs:
Land $.3.10.00
Section 2. Funds for the North Iredell Park Capital Project will be provided from the following
sources.
Transfer from Parks Reserve Fund
Section 3. This Capital Project Fund shall continue until the project is complete.
Section 4. Payments from this Capital Project Fund shall be authorized by the County Manager or
his designee.
Section 5. Any funds remaining in the North Iredell Park Capital Project Fund at completion of the
project will be transferred to the Parks Capital Reserve Fund.