HomeMy WebLinkAboutC.054.93011_1618 (2)Request from Carolina Beer & Beverage for a Revision to the Economic Development
Incentive Agreement (Revision Pertains to Construction Dates): Mooresville -South Iredell
Economic Developer Melanie O'Connell Underwood said that in March of 2005 an incentive
grant was approved for this company; however, the construction had not been completed as
anticipated. She said the company was requesting for the calendar year stipulated in the
agreement to extend from 2007 through 2011. Underwood said the investment amount would
not change.
OTIO by Commissioner Tice to approve the calendar year change as requested.
VOTING: Ayes — 5; Nays — 0.
Request for Approval of a Resolution Authorizing the Filing of an Application with
the Local Government Commission for the Approval of the Issuance of Special Obligation
Bonds to Finance Solid Waste Disposal Facilities and Requesting the Local Government
Commission to Approve the County's Selection of Bond Counsel: Chairman Norman
introduced the following resolution, a copy of which had been provided to each Commissioner.
Director of Finance and Administrative Services Susan Blumenstein then summarized the
document as follows:
RESOLUTION AUTHORIZING THE FILING OF AN APPLICATION
WITH THE LOCAL GOVERNMENT COMMISSION FOR THE
APPROVAL OF THE ISSUANCE OF SPECIAL OBLIGATION BONDS
TO FINANCE SOLID WASTE DISPOSAL FACILITIES AND
REQUESTING THE LOCAL GOVERNMENT COMMISSION TO
APPROVE THE COUNTY'S SELECTION OF BOND COUNSEL
WHEREAS, the Director of Finance and Administrative Services has submitted a
proposal to the Board of Commissioners requesting that the County be authorized to
file an application with the Local Government Commission of North Carolina (the
"Commission") requesting approval of the issuance and sale of Special Obligation
Bonds for the following purposes and up to the following approximate amount:
Purposes Amount
Construction of new lined landfill cell for solid waste,
including design costs and other related costs. $3,000,000
WHEREAS, in order to meet the demands of the County, it is deemed necessary
to implement the above mentioned project and the Board of Commissioners hereby
finds, determines and declares:
(a) The County currently owns and operates a solid waste landfill which will
soon exceed its capacity, and the County desires to construct a new lined
Landfill cell for the purpose of continuing to provide solid waste disposal
services to the residents of the County;
(b) The County has determined to issue an additional series of Special
Obligation Bonds pursuant to the Bond Order adopted by the Board of
Commissioners on April 15, 1992 (the "Bond Order") for the purpose of
providing funds, together with any other available funds, for paying the costs
of construction of a new lined landfill cell (the "Project");
(c) In order to finance the costs of the Project, the County has developed
the following plan of finance:
(i) the County proposes to issue not exceeding $3,000,000 of its
Special Obligation Bonds (the "Bonds") pursuant to Chapter 1591
of the General Statutes of North Carolina, as amended (the
"Act"), the Bond Order and a series resolution to be adopted by
the Board of Commissioners prior to the issuance of the Bonds;
and
(ii) the Bonds will be special obligations of the County, payable solely
from the Obligated Revenues (as defined in the Bond Order)
pledged therefor;