HomeMy WebLinkAboutC.054.93008_0757 (2)312
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County committing to spend 508 of this amount or $75,000 up front.
Mr. Pete Connet, Statesville City Manager, said they had applied for a
Community Develoment Block Grant, which may be approved. If it is approved, it will
reduce the amount paid by both the City and the County for this sewage line project.
The money is expected to be expended on the project in this current fiscal
year, 1984-85.
The county manager discussed the county's financial status in the allocating of
these funds.
MOTION from Commissioner Crosswhite to agree to fund up to 50 per cent of the
net cost of the project, not to exceed $75,000, after receipt of anticipated grant
funds, for the Kewaunee Technical Sewer Line Project. The sale for Percentage of
payback in the eventthe line lying outside the Statesville City Limits is
incorporated into Statesville is as follows:
Within 1st fiscal year after completion 1004
Within 2nd fiscal year after completion 93.334
Within 3rd fiscal year after completion 86.668
Within 4th fiscal year after completion 79.994
Within 5th fiscal year after completion 73.324
within 6th fiscal year after completion 66.654
Within 7th fiscal year after completion 59.984
Within 8th fiscal year after completion 53.314
Within 9th fiscal year after completion 46.644
Within 10th fiscal year after completion 39.974
Should the area be incorporated within the above ten-year fiscal period, the
504 refund due to the county shall be refunded in accordance with the above
schedule and the amount due the county shall be made in five (5) equal installments,
beginning on December 15th of the fiscal year following annexation:
Within 11th fiscal year after completion 33.304 I
Within 12th fiscal year after completion 26.634
within 13th fiscal year after completion 19.964
Within 14th fiscal year after completion 13.29
Within 15th fiscal year after completion 6.624
If annexation occurs during the 11th, 12th, 13th, 14th, or 15th year, the
total refund due to the county shall be paid in full before the end of the 15th
fiscal year. There will be no interest charged by the county on the refund.
In no event shall the City pay or refund to the County an amount in excess
of the total cost of the water line.
VOTING: Ayes - 3; Nays - 0; Absent - 2 (Mills and Murdock)
ADJOURN: Chairman Hedrick adjourned the meeting at 2:30 p.m.
Clerk I
APPROVED: 12/18/84. Recorded at Register of Deeds, Hook 27, pp. 94-97.