HomeMy WebLinkAboutC.054.93011_1695 (2)5. Request for Approval of a Solid Waste Disposal Enterprise Fund 2007 Capital
Project Ordinance: The following ordinance was approved for the purchase of land and the
construction of the fourth -lined cell at the landfill.
Iredell County, North Carolina
Solid Waste Enterprise Fund Phase IV Construction and Land Purchase
Capital Project Fund
Be it Ordained by the Board of County Commissioners of Iredell County, North Carolina:
Section 1.
Funds for this Capital Project Fund will be provided by:
Original
Ordinance
than Trustee
$ 4,500,000
First Citizens
3.57%
$6,000
$250
$4,941,787.50
$6000
$4,947,787.50
Yes. Deposit
$250.00
and the purchase of land will be paid by this Fund.
Ordinance
Professional Services -Engineering
$ 400,000
proceeds w/
45,000
Project Costs - Other
50,000
General
Trustee
2,856,150
SunTrust
3.82%
$1,500
3% of prin
$4,977,798.75
j $1500
$4,979,298.75
Did not
$108,000.00
Section 4.
The County Manager is authorized to transfer funds from Project Costs - Other to other expenditure line items
balance
address
deposit of
proceeds
Wachovia
3.6280%
$5,000
Now allowed
$4,949,026.90
$5000
4,954,026.90
Did not
Not allowed
address
deposit of
proceeds
5. Request for Approval of a Solid Waste Disposal Enterprise Fund 2007 Capital
Project Ordinance: The following ordinance was approved for the purchase of land and the
construction of the fourth -lined cell at the landfill.
Iredell County, North Carolina
Solid Waste Enterprise Fund Phase IV Construction and Land Purchase
Capital Project Fund
Be it Ordained by the Board of County Commissioners of Iredell County, North Carolina:
Section 1.
Funds for this Capital Project Fund will be provided by:
Original
Ordinance
Series 2007 Special Obligation Bond
$ 4,500,000
Transfer In - Solid Waste Disposal Enterprise Fund (retained earnings)
1,711,150
$ 6,211,150
Section 2.
The following costs for the design, engineering and construction of Phase IV
Original
and the purchase of land will be paid by this Fund.
Ordinance
Professional Services -Engineering
$ 400,000
Financing Costs (LGC, Bank Fees, Bond Counsel)
45,000
Project Costs - Other
50,000
General
Construction
2,856,150
Land Purchase (land, surveying, environmental assessment, appraisal)
2,860,000
$ 6,211,150
Section 3.
This Capital Project Fund shall continue until the project is complete.
Section 4.
The County Manager is authorized to transfer funds from Project Costs - Other to other expenditure line items
with a report to the board of commissioners at its next meeting.
Section 5_ Payments from this Capital Project fund shall be authorized by the County Manager or his designee
This Capital Project Ordinance approved and adopted September 18, 2007.
6. Request for the Adoption of a Resolution Requesting the Local Government
Commission to Approve the Application for the Issuance of Solid Waste Disposal
System Obligation Bonds and Requesting the Local Government Commission (LGC) to
Sell Such Bonds at Private Sale: The following resolution requests the LGC to approve Iredell
County's application to issue $4,500,000 in Solid Waste Disposal System Special Obligation
Bonds:
RESOLUTION REQUESTING THE LOCAL GOVERNMENT COMMISSION OF NORTH
CAROLINA TO APPROVE THE COUNTY OF IREDELL, NORTH CAROLINA'S APPLICATION
FOR THE ISSUANCE OF SOLID WASTE DISPOSAL SYSTEM SPECIAL OBLIGATION BONDS
AND REQUESTING THE LOCAL GOVERNMENT COMMISSION TO SELL SUCH BONDS AT
PRIVATE SALE