HomeMy WebLinkAboutC.054.93010_1295At the briefing, Finance Director Blumenstein said an addendum to the
agreement had been received, and it contained the following stipulations.
1. Should the city advance from the general fund some or all of the necessary costs to
complete the airport expansion and improvement project, then in that event, the County shall:
Reimburse the city,for one-half (112 oJthe city's loss of investment
earnings on the amount advanced based upon the earnings being
received by the city on its investments at the time the advance is made,
and
The county shall reimburse the city Jar one-half (1/2) of the actual
funds advanced by the city to the extent that the city is not reimbursed
from the proceeds of any loans or grants obtained.
1. The County's reimbursement to the City pursuant to Paragraph No. 1 above shall be
made on a .semi-annual basis.
3. The proceeds of any loans or grants received by the city for the airport project shall
first be applied to reimbursement to the city for all finds advanced by the city towards this
protect.
4. Paragraph No. 6 of the parties' Inter -local Agreement is hereby eliminated.
5. Except as modifPed the terms of that Inter -local Agreement entered into between the
parties dated October 7, 1003, shall remain in effect.
At the briefing, Commissioner Madison questioned item 4 in the addendum that
eliminated item 6 in the original document. Mr. Madison asked if there was any chance
the county might be liable for the debt, if the city chose not to seek the financing and
something happened to its fund balance (budget shortfall).
Attorney Pope said the contract imposed upon the city the good faith obligation
to attempt to obtain the financing. He said, however, the contract did not stipulate that
"time was of the essence."
Madison said he understood the city had a substantial fund balance that it could
draw upon, but he wanted to insure that the obligation didn't fall on the county,
especially at an inopportune time.
Pope said this probably wouldn't happen.
OTIO by Commissioner Williams to approve the addendum as presented.
VOTING: Ayes — 5; Nays — 0.
Request for Approval of Budget Amendment #21 for the Broadcasting of
Future Board Meetings: County Manager Mashburn said that for several years,
Adelphia Cable televised the commissioners' meetings, but as a result of the company's
financial circumstances the service had been stopped. He said the City of Statesville
officials were willing to permit the county to use their governmental access channel for
the broadcasts; however, the Mooresville area was controlled by the Mooresville
Graded School District. He said it would be possible to connect to the city's lines and
produce "live" broadcasts of the commissioners' meetings in Statesville, but due to the
distance between here and Mooresville, these broadcasts would have to be recorded.
Mashburn said several camera operators had been interviewed, and the county could
expect to pay $75 to $125 per meeting, plus the initial purchase of the equipment
($10,000). Mashburn requested a budget amendment for $12,000 to be derived from
the contingency fund to pay for the camera operator's charges through the end of this
fiscal year and for the equipment costs. He said thereafter, $3,000 to $4,000 would be
needed each year.