HomeMy WebLinkAboutC.054.93011_1051 (2)Consideration of a Resolution Making Certain Findings Relating to the
Financing of Certain School Facilities Pursuant to an Installment Financing
Agreement and Authorizing the Director of Finance and Administrative Services
to File Application For Approval Thereof by the Local Government Commission:
Chairman Tice announced that this was the hour and day fixed by the Board of
Commissioners for the public hearing upon the proposed financing, pursuant to an
installment financing agreement, to be dated as of May 1, 2006 or such other date as the
parties thereto shall mutually agree upon (the "Installment Financing Agreement"),
between the County of Iredell, North Carolina (the "County') and Iredell County Public
Facilities Corporation, a North Carolina non-profit corporation (the "Corporation"), of
(i) the expansion of North Iredell High School, including the construction and
equipping of additional classrooms and a new gymnasium and locker room, (ii) the
expansion of West Iredell High School, including the construction and equipping of
additional classrooms, a new science wing, an auditorium, a new gymnasium and locker
rooms, and expanded cafeteria and kitchen facilities, (iii) the expansion of Statesville
High School, including the construction and equipping of a Freshman Academy, an
auxiliary gymnasium, a ROTC room, a science wing and additional performing arts and
general classrooms and the acquisition of land to expand practice fields and parking
lots, (iv) the expansion of Sharon Elementary School, including the construction and
equipping of additional classrooms and resource rooms, a new cafeteria/kitchen, a new
administration area and a new media center and the acquisition of land for the
expansion of the sewer septic system, and (v) the construction and equipping of a new
Mooresville Intermediate School (collectively, the "Project"), and that the Board of
Commissioners would hear anyone who may wish to be heard with respect to the
Installment Financing Agreement.
As a matter of information, the Director of Finance and Administrative Services
of the County described the nature of the Project, including the estimated cost thereof
($47,000,000), and the installment payments to be made by the County under the
Installment Financing Agreement for such purposes.
Thereupon the Chairman introduced the following resolution, a copy of which
had been provided to each Commissioner, which was read by title and summarized by
the Director of Finance and Administrative Services:
RESOLUTION MAKING CERTAIN FINDINGS RELATING TO THE
FINANCING OF CERTAIN SCHOOL FACILITIES PURSUANT TO AN
INSTALLMENT FINANCING AGREEMENT AND AUTHORIZING THE
DIRECTOR OF FINANCE AND ADMINISTRATIVE SERVICES TO FILE
APPLICATION FOR APPROVAL THEREOF BY THE LOCAL
GOVERNMENT COMMISSION
BE IT RESOLVED by the Board of Commissioners for the County of Iredell,
North Carolina (the "County"):
Section 1. The Board of Commissioners does hereby find, determine and
declare as follows:
(a) The County proposes to finance (i) the expansion of North Iredell High
School, including the construction and equipping of additional classrooms and a new
gymnasium and locker room, (ii) the expansion of West Iredell High School, including
the construction and equipping of additional classrooms, a new science wing, an
auditorium, a new gymnasium and locker rooms, and expanded cafeteria and kitchen
facilities, (iii) the expansion of Statesville High School, including the construction and
equipping of a Freshman Academy, an auxiliary gymnasium, a ROTC room, a science
wing and additional performing arts and general classrooms and the acquisition of land
to expand practice fields and parking lots, (iv) the expansion of Sharon Elementary
School, including the construction and equipping of additional classrooms and resource
rooms, a new cafeteria/kitchen, a new administration area and a new media center and
the acquisition of land for the expansion of the sewer septic system, and (v) the
construction and equipping of a new Mooresville Intermediate School (collectively, the
"Project"), pursuant to an installment financing agreement, to be dated as of May 1,
2006 or such other date as the parties thereto shall mutually agree upon (the
"Installment Financing Agreement"), between the County and Iredell County Public