HomeMy WebLinkAboutC.054.93008_050560
by J. P. Stevens & Co., Inc. (the Company), consisting of acquisition and installa-
tion of certain equipment and renovation in connection therewith (the Project) at
its Turnersburg facility in Iredell County and has indicated that agreement by the
completion of an Inducement Agreement between the parties dated as of February 22,
1983; and
WHEREAS, Under G. S. 159C-7 each project must be approved by the Secretary of the
Department of Commerce; and
WHEREAS, The Rules and Procedures of the North Carolina Department of Commerce
require that the governing body of a county approve in principle any project to be
financed under the Act; and
WHEREAS, this Board has today held a public hearing with respect to the advisa-
bility of the Project and the issuance of bonds therefor; and
WHEREAS, If the operator of a project to be financed under the Act cannot show
that it will pay a weekly manufacturing wage above the average paid in the county
or not less than 108 above the average paid in the State, the project may neverthe-
less be financed under the Act if the Secretary of the Department of Commerce, in
his discretion, receives a resolution of the county commissioners with respect to
the project; and
WHEREAS, the Rules and Procedures of the Department of Commerce state, in Section
.0303(d), such financings will be allowed where a county has "especially severe un-
employment" which is either (1) an average unemployment rate greather than 88 for
the last calendar year, or (2) an average unemployment rate for the last calendar
quarter which is more than 258 higher than the rate for the State in such period;
and
WHEREAS, In the year 1982 Iredell County had a 12.48 unemployment rate and there-
fore qualifies as having "especially severe unemployment;"
BE IT RESOLVED BY THE BOARD OF COMMISSIONERS FOR THE COUNTY OF IREDELL:
1. The proposed "industrial project" constituting the acquisition and installa-
tion of certain equipment and renovation in connection therewith to be owned and
operated by the Company and the issuance of bonds to finance or partially finance
the proposed project are hereby approved in principle.
2. The Board of Commissioners hereby requests that the proposed "industrial pro-
ject" be approved notwithstanding the fact that the operator will not pay an average
weekly manufacturing wage above the average weekly manufacturing wage paid in
Iredell County.
Commissioner Ostwalt moved passage of the foregoing resolution and Commissioner
Campbell seconded the motion, and the resolution was passed by the following vote:
Ayes: Commissioners Murdock, Campbell, Mills and Ostwalt
Nays: None
Not Voting: None ,