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RELATING TO THE $18,445,000 COUNTY OF IREDELL, NORTH CAROLINA
IREDELL MEMORIAL HOSPITAL REVENUE REFUNDING BONDS, SERIES 1987
WHEREAS, on January 8, 1987, the Board of Commissioners adopted a Series Resolution (the
"Series Resolution") relating to the $18,445,000 County of Iredell, North Carolina Iredell Memorial
Hospital Revenue Refunding Bonds, Series 1987, which Bonds will be issued and delivered on or about
February 5, 1987; and
WHEREAS, the Board of Commissioners has determined that it is necessary and desirable to amend
Section 204 of the Series Resolution as it relates to transfers from the funds
eref accounts
established under the Prior Bond Order (as defined in the Serics Resolution);
BE IT RESOLVED, that the last paragraph of Section 204 of the Series Resolution is hereby
amended to read as follows:
(1) $1,117,000 of the moneys held in the Project Account of the construction Fund (both as
defined in the Prior Bond Order) shall be deposited to the shall be credit transferred to Escrow F nd an corporation;
balance
of the moneys in such account as of February 5,
1987 (2) the moneys held in the Prior Bond Fund shall be deposited to the credit of the Escrow Fund
to the extend necessary to satisfy the amount required tobe deposited therein and the balance of
the moneys in such fund shall be transferred to the Corporation; and
(3) all moneys and securities held in the Prior Reserve Fund shall be transferred to the
credit of the Costs of Issuance Fund to pay any costs of issuance in excess of the amount deposited
therein from the proceeds of the Bonds and then to theies Series 1987 Account of the Reserve Fund
Fundeserve
bRequre entSection
Any401 of remaining moneys andis Serlsecuritiiesution to hshallebe deposited nt necessary ttosthefcr d ty the and the
Escrow Fund to the extent necessary to satisfy the amount required to be deposited therein, and the ! II
balance of the moneys in such fund shall be transferred to the Corporation.
er
was aUpon Mtion Of Comssiner doptedoby the unanimousovote llof those membersedrick secondebof them
Board nwho 5were rforegoing resolution
present
AUTHORIZATION FOR THE CHAIRMAN TO SIGN THE ARBITRAGE AGREEMENT AND OTHER NECESSARY DOCUMENTS
AT THE CLOSING OF THE HOSPITAL BONDS: On recommendation of the County Attorney,
MOTION wmade by
Commissioner Murdock, seconded by Commissioner Ostwalt, to authorize the chairman to sign the
arbitrage agreement and such other documents that are necessary documents at the closing.
INFORMATION FOR MAKING DECISION ON SCHOOL FUNDING: The County Manager presented information to
the board that could be helpful in making decisions on the school capital funding issue.
UPDATE ON THE RENOVATION OF THE OLD COURTHOUSE: Commissioner Crosswhite gave the board an
update on the renovation of the old courthouse, as requested by the chairman when the committee was
committeesad se and
formed. Commissioner Murdock, and Mrs Alice Fortner,ehadimethwith Mr.hGeneKrider sherself,
discussed the renovation with him.
this Senator Bmet with ilrs. Lois l Redman in the N. CC.House
Senate. Representatives,
discussed
avenues they might use in securing funds through the State. Representative Walker thought it might
be wise to ask for funds through the Department of Cultural Resources as well as look at the
possibility of securing Discretionary Funds from the General Assembly.
The State representatives wanted a definite plan of use and a drawing showing the plan of use.
Feuary
this Kisto besubmitted Fortner were to met the
Representative Walkereasosoon as p s 9 ble.o work on such a plan. All of
aRJnuOF MNToCommissioner
Murdock
tapprove
the
minutes.
from the January
20th ndaary 7hmeetngs withan addtionrequestedtothe January2oth
VOTING: Ayes - 5; Nays - 0.
JOINT MEETING WITH THE IREDELL COUNTY PLANNING BOARD: Attention ws called 1987 6.30 pto the int
a
Meeting with the Iredell County Planning Board, to be held on Tuesday, Y
Statesville Country Club.
EXECUTIVE SESSION: MOTION from Chairman Hedrick to enter executive session for the purpose of
discussing a possible law suit and real estate.
VOTING: Ayes - 5; Nays - 0.
REFUSAL OF AMITY HILL SCHOOL PROPERTY: MOTION from Chairman Hedrick that the Board notify the
Iredell
PCounty
Board
Edusafair and marketvalueandecline their
her offer to purchase the Amity Hill
schoo
VOTING: Ayes - 5; Nays - 0.
ADJOURN: MOTION from Chairman Hedrick to adjourn. Time: 9:00 p.m. Next meeting: February
17, 1987.
/7 Clerk
APPROVED: �YILI � � � ��Z---