HomeMy WebLinkAboutC.054.93011_0882 (2)issuance expenses (collectively, the "Project'). Up to $4,250,000 will be expended on the Project
in the County;
WHEREAS, the Bonds and the interest thereon shall never constitute the debt or
indebtedness of the Authority or the County, the State of North Carolina (the "State") or any
political subdivision of the State or the State of Colorado within the meaning of any provision of the
Constitution of the State or the State of Colorado and shall not constitute nor give rise to a
pecuniary liability or a charge against the general credit or taxing powers of the Authority, the
County, the State or the State of Colorado or any political subdivision of the State or State of
Colorado;
WHEREAS, the County hereby determines that it is the best interests of the County to hold a
public hearing in order to satisfy the public approval requirement of Section 147(f) of the Internal
Revenue Code of 1986, as amended (the "Code'), for the sole purpose of qualifying the interest on
the Bonds for exclusion from the gross income of the owners thereof for federal income tax
purposes pursuant to the applicable provisions of the Code;
WHEREAS, a public hearing on the issuance of the Bonds after publication of a notice with
respect to such public hearing must be held; and
WHEREAS, the County hereby determines that all findings, conclusions and determinations
of the County in this Resolution are subject to modification or affirmation after all interested parties
have been afforded the opportunity to present their comments at a public hearing regarding the
issuance of the Bonds and the financing or refinancing of the Project.
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF THE
COUNTY OF IREDELL, NORTH CAROLINA, AS FOLLOWS.-
Section
OLLOWS.Section 1. Public Hearing. That a public hearing (the "Public Hearing') shall be
conducted by the Board of Commissioners on October 4, 2005 at 7:00 P.M. in the Iredell County
Government Center, Commissioner's Meeting Room, 200 S. Center Street, Statesville, North
Carolina 28677, North Carolina, concerning the issuance of the Bonds and any other transactions
contemplated therein and associated therewith.
Section 2. Notice of Public Hearing. That the Clerk to the Board is hereby directed to
cause a notice of the Public Hearing, in the form attached hereto as Exhibit A, to be published once
in a qualified newspaper of general circulation within the County no fewer than 14 days prior to the
Public Hearing.
Section 3. Repealer. That all motions, orders, resolutions and parts thereof in conflict
herewith are hereby repealed.
Section 4. Effective Date. That this Resolution is effective on the date of its adoption.
On motion of Commissioner Williams, seconded by Commissioner Norman, the foregoing
resolution entitled "RESOLUTION OF THE BOARD OF COMMISSIONERS OF THE COUNTY OF IREDELL,
NORTH CAROLINA, AUTHORIZING THE HOLDING OF A PUBLIC HEARING AND DIRECTING THE
PUBLICATION OF NOTICE WITH RESPECT THERETO AND PROVIDING FOR CERTAIN OTHER RELATED
MATTERS THERETO" was duly adopted by the following vote:
AYES: 5
NAYS: 0
ANNOUNCEMENT OF VACANCIES OCCURRING ON
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