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HomeMy WebLinkAboutC.054.93011_1621Landfill (the "Project'), and WHEREAS, the Iredell County Board of Commissioners (the "Board') has determined that the funds advanced from the Solid Waste Disposal Enterprise Fund and to be advanced to pay Expenditures are or will be available for a temporary period and it is necessary to reimburse the Issuer for Expenditures made on and after the date hereof with respect to the Project from the proceeds of one or more issues of tax-exempt bonds (the "Bonds') pursuant to the North Carolina Solid Waste Management Loan Program (Section 1541 of the North Carolina General Statutes, as amended). NOW, THEREFORE, BE IT RESOLVED BY THE BOARD AS FOLLOWS.- Section OLLOWS: Section 1. The Board hereby adopts this declaration of official intent under Treasury Regulation Section 1.150-2 and declares the Issuer's intent to reimburse the Issuer with the proceeds of the Bonds for Expenditures made on and after the date hereof with respect to the Project. The issuer reasonably expects on the date hereof that it will reimburse the Expenditures with the proceeds of the Bonds. Section 2. The maximum principal amount of debt expected to be issued for the Project is Three Million Dollars ($3,000,000). Section 3. Each Expenditure was and will be either (a) of a type properly chargeable to capital account under general federal income tax principles (determined in each case as of the date of the Expenditure), (b) a cost of issuance with respect to the financing, (c) a nonrecurring item that is not customarily payable from current revenues, or (d) a grant to a party that is not related to or an agent of the Issuer so long as such grant does not impose any obligation or condition (directly or indirectly) to repay any amount to or for the benefit of the County. Section a. The County will make a reimbursement allocation, which is a written allocation by the County that evidences the County's use of proceeds of the Bonds to reimburse an Expenditure, no later than 18 months after the later of the date on which the Expenditure is paid or the Project is placed in service or abandoned, but in no event more than three years after the date on which the Expenditure is paid. The Issuer recognizes that exceptions are available for certain "preliminary expenditure ", costs of issuance, certain de minimis amounts, expenditures by "small issuers " (based on the year of issuance and not the year of expenditure) and expenditures for construction projects of at least five years. Section 5. This resolution shall take effect immediately upon its passage. 2. Request from the Town of Troutman for a Surplus Vehicle: The policy adopted on June 5, 2007 will be amended by allowing municipalities, located within Iredell County, to be added to the list of entities allowed to purchase surplus vehicles. A copy of the revised policy is as follows: • Only three surplus vehicles a year will be available to the VFDs, Rescue Squads and the Municipalities located within the county. • Each vehicle will be sold at $800. (This is to the VFDs, Rescue Squads and the Municipalities located within the county.) • Each individual VFD, Rescue Squad, and Municipality (located within the county) will be limited to one vehicle a year. • Any additional expense incurred by the county to surplus the vehicle will be recouped from the VFD, Rescue Squad, or the Municipality. • This policy does not supersede the procedure already in existence for the leasing of vehicles to Mitchell Community College for law enforcement training. 3. Request for Approval of a Three -Year Service/Maintenance Agreement with the ThyssenKrupp Elevator Corporation for the Government Center South Building: This three-year agreement is for the newly modernized elevator project at the Government Center South. The agreement includes mandatory periodic safety inspections along with service and maintenance beyond the warranty period. 4. Request for Approval of an Engineering Services Contract with the Municipal Engineering Company, P.A: This contract contains all design work, bid documents, construction oversight, testings of the liner system, and required meetings associated with the Phase IV lined landfill project.