HomeMy WebLinkAboutC.054.93009_1597completion of surveying, utilities, roadway, and bridge improvement
plans.
MOTION by Commissioner Fortner to approve Letter of Credit
097-904 for Water's Edge Properties, LLC in the amount of
$2,300,000.00 as was reviewed and recommended for approval by
County Attorney Pope.
VOTING: Ayes - 5; Nays - 0.
Allison advised that Turnpike Properties, Inc., was requesting
that Iredell County release Letter of Credit #93049 in the amount
of $115,275.00. The developers have completed all of the necessary
improvements, i.e., water/sewer system, street improvements, and
surveying.
MOTION by Commissioner Stewart to release Letter of Credit
,#97049 for Turnpike Proportion, Inc., in the amount of $115,275
since the improvements have been accomplished.
VOTING: Ayes - 5; Nays - 0.
REPORT ON TRANSMISSION T0WERS (CELLULAR): Mr. Allison
explained that in June of this year, the planning staff was asked
to review the current guidelines for cellular towers. It has been
determined that several changes could be made to improve the
existing regulations.
MOTION by Commissioner Boone to refer the amendments to the
planning board for review and consideration.
VOTING: Ayes - 5; Nays - 0.
REQUEBT OF SURPLUS AMBULANCE BY THE NORTH IREDELL RESCUE SQUAD:
Mayor John Ray Campbell, of the Town of Harmony, spoke to the board
and shared a letter from the North Iredell Rescue Squad. The new
squad is requesting the donation of surplus ambulance #410 to be
used as a backup vehicle.
MOTION by Commissioner Johnson to donate surplus ambulance
0410 "as is" to the North Iredell Rescue Squad, Inc.
Commissioner Boone noted that the ambulance had high mileage
and that it had relatively little monetary value.
VOTING: Ayes - 5; Nays - 0.
REQUEST OF IREDELL MEMORIAL HOSPITAL, INC. FOR REFUND
(REFINANCING) OF HOSPITAL BONDS: Arnold Nunnery, President of
Iredell Memorial Hospital, congratulated the commissioners on the
recent bond ratings achieved by the county. Nunnery mentioned that
his u3dvisors had indicated that now was an opportune time to
issue/reissue bonds. Currently, the hospital is paying from
patient receipts on revenue bonds issued in 1983. The bonds were
refunded in 1987. Recently, the Local Government commission
deemed it appropriate to proceed with refinancing again.
Nunnery advised that $14.6 million was currently outstanding
with an interest rate of 5.9% to 6.5%. Hopefully, a new rate, upon
refunding, will be 3.85% to 5.12%. A total dollar savings over
the next 16 years will be around $1.1 million or about $72,000 per
year.
Commissioner Boone reiterated that the bonds were revenue
bonds and that the county taxpayers were not liable for any
default. Nunnery said this was correct, and that the bonds were
insured and had a AAA rating. Mr. Nunnery also advised that the
Local Government Commission recommended that the hospital look at
its future capital equipment needs (e.g., permanent MRI building
and outpatient rehab center). Including these needs, the bond
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