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WHEREAS, the Authoritv has determined to issue not exceeding, 58,000,000 aggre-
gate principal amount of its industrial development revenue bonds to nay all or a
portion of the cost of the expansion and renovation of an existing industrial facility
located on West Front Street in the City of Statesville, Iredell County, North Caro-
lina, such expansion and renovation to include the construction of an approximately
46,000 square foot building, addition, a parking, lot, loading, docks, the acquisition
and installation of various Production equipment and the acquisition of an abandoned
office building (the "IndustrialProject"), which Industrial Project is to be owned
and operated by Kewaunee Scientific Equipment Corporation, a Delaware corporation
(the "Company"); and
WHEREAS, the Authority intends to file an application for approval of the
Industrial Project with the Secretary of the Department of Commerce (the "Department"),
as required by the Act; and
WHEREAS, the Department has, by regulation, provided that no application for
approval of a proposed industrial project by the Department will be officially re-
ceived until the governing, body of the county from which the annlication is made has,
by resolution after having, held a Public hearing, annroved the issue of the industrial
development revenue bonds and annroved the proposed industrial project and a certified
copy of such resolution has been Provided to the Department; and
WHEREAS, Executive Order 113 of the Governor of the State of North Carolina Pro-
vides that prior to the time that the volume capacity with respect to private activi-
ty bonds set forth in the Deficit Reduction Act of 1984 is allocated to the Industrial
Project, application must be made to the Department; and
WHEREAS, the Board desires to approve the issuance of the industrial development
revenue bonds and the Industrial Project; NOW, THEREFORE,
BE IT RESOLVED AS FOLLOWS:
1. The issuance of not exceeding, $8,000,000 aggregate principal amount of
industrial development revenue bonds of the Authority to finance the Industrial Pro-
ject is hereby approved.
2. The Industrial Project is hereby approved,
3. The Clerk to the Board is hereby directed to apply to the Department
for an allocation in an amount not to exceed $8,000,000 pursuant to
Executive Order 113 of the Governor of the State of North Carolina,
such application to be evidenced by sending a certified copy of this
resolution to the Department. Any such allocation shall be only for
Purposes of the Industrial Project.
4, The Clerk to the Board is hereby authorized and directed to provide
a certified cony of this resolution to the Department.
5. This resolution shall take effect immediately upon its passage.
VOTING: Ayes - 5; Nays - 0,
(Note: Cony of Affidavit of Printing attached hereto as Exhibit B.) ,
NON -OWNER PETITION: MOTION from Chairman Hedrick to deny the request of the
non -owner petition to rezone property Petitioned by Tony Carl Brown, located off
S. R. 1100, Brawley School Road; near the Trading Post, abutting S. R. 1234,
Beech Tree Road; S, R. 1178, Slume Board; and S. R. 1444, Beaten Parth; involving
179 acres. Petition was for R-20 Single Family Dwelling from Residential Agricultural.
Request for rezoning denied due to inappropriateness of the petition.
VOTING: Ayes - 5; Nays - 0.
CHAIRMAN HEDRICK RESUMED THE PUBLIC HEARING.
GRADY TRIVETTE - REZONING REOUEST: Miss Beckham identified the property proposed
for rezoning on the Iredell County zoning, map. The property requested for rezoning
from Residential Agricultural to Highway Business is located on the West side of
I-77, between S. R. 1832, Eagle Mill Road, and S. R. 1816, Mullis Road, and lies
at the dead end of Hemrick Road, The purpose of the rezoning is for outdoor adver- ,
tising and involves a tract of 2,77 acres.