HomeMy WebLinkAboutC.054.93008_0504 (2)59
RESOLUTION WITH RESPECT TO HUNTON & WILLIAMS ACTING
AS BOND COUNSEL FOR INDUSTRIAL REVENUE BONDS
WHEREAS, The Iredell County Industrial Facilities and Pollution Control Financing
Authority (the Authority) is organized and operates pursuant to, and issues its
industrial facilities revenue bonds under, the North Carolina Industrial and Pollu-
tion Control Financinq Act (the Act); and
WHEREAS, the legality of bonds issued under the Act must be approved by bond
counsel selected and approved by the Authority and Iredell County (the County); and
WHEREAS, it has been Droposed that Messrs. Hunton & Williams, Raleiqh, North
Carolina, act as bond counsel in connection with the issuance by the Authority of
bonds for the benefit of J. P. Stevens & Co., Inc.; and
WHEREAS, the Authority and the Board of Commissioners have reviewed the "Guide-
lines and Procedures for the Employment of Bond Counsel in Industrial Development
P""mak Financings under G.S. Chapter 159C" issued by the Local Government Commission
and examined the qualifications of Messrs. Hunton & Williams with respect to the
criteria set forth in the "Guidelines and Procedures;" and
WHEREAS, the Board of Commissioners desires Messrs. Hunton & Williams to act as
bond counsel for the issuance of such bonds by the Authority;
NOW, THEREFORE, the Board of Commissioners of Iredell County, meeting in regular
session in Statesville, North Carolina, on May 17, 1983, do the followinq:
BE IT RESOLVED BY THE BOARD OF COMMISSIONERS FOR THE COUNTY OF IREDELL:
Messrs. Hunton & Williams are hereby approved to act as bond counsel in connec-
tion with bonds issued by the Authority for the benefit of J. P. Stevens & Co., Inc.
Commissioner Mills moved the passage of the foregoing resolution and Commissioner
Ostwalt seconded the motion, and the resolution was passed by the following vote:
Ayes: Commissioners Murdock, Mills, Ostwalt and Campbell
Nays: None
4
0 Not Voting: None
J. P. STEVENS - WAGE WAIVER: Mr. Junior Anderson, J. P. Stevens Turnersburg
Plant Manager, addressed the board regarding the Department of Commerce's wage rate
evaluation. He explained that the way the figures were computed presented a low
weekly wage profile for J. P. Stevens in Iredell County, which is not true, Mr.
Anderson said. He wanted to clairfy this because of the inclusion of the Wage Waiver
in the Approval in Principle document presented for board approval.
J. P. STEVENS - APPROVAL IN PRINCIPLE: Vice Chairman Murdock introduced the
following resolution, the title of which was read:
APPROVAL IN PRINCIPLE OF INDUSTRIAL PROJECT FOR J. P. STEVENS & CO., INC. AND
THE FINANCING THEREOF WITH REVENUE BONDS IN A PRINCIPAL AMOUNT OF UP TO $6,000,000:
WHEREAS, the Iredell County Industrial Facilities and Pollution Control Financing
' Authority has agreed to assist in the financing under the North Carolina Industrial
and Pollution Control Facilities Financing Act (the Act) of an industrial project