HomeMy WebLinkAboutC.054.93008_0976 (2)531
(9) approved the form of Individual Guaranty Agreement dated
as of December 1, 1985, from M. Thomas Braun, Elaine B. Br Gun,
Charles E. Herriman and Johnny Sue Herriman to the Purchaser.
(b) The board of Commissioners for the County of Iredell has
reviewed the action taken by the Board of Commissioners of the
Authority in connection with the issuance and sale of the Bond and
has made such other examination and investigation as it deems
necessary and relevant as the basis for the approval set forth
herein.
Section 2. Pursuant to and in satisfaction of the requirements of Section 159C -4(d) of the
General Statutes of North Carolina, the Board of Commissioners for the County of Iredell hereby
approves the issuance by the Authority of the Authority's Industrial Revenue Bond (Trans -Industries,
Inc. Project) in the principal amount of $650,000.
Section 3. This resolution shall take effect immediately upon its passage.
Commissioner Murdock moved passage, seconded by Commissioner Crosswhite.
VOTING: Ayes - 5; Nays - 0.
REPORT ON AVAILABILITY OF INSURANCE FOR PLANNED RESIDENTIAL DISTRICT: Mr, Jerry Lundy reported
on the availability of insurance for the PRD's as requested by the Board. Mr. Pope and Mr. Lundy
said that the Williams Agency, Durham, had misunderstood the community waste"ater disposal
ordinance. They now say that coverage cannot be obtained in the market place for a bond for a 20 -
year period, as required by the ordinance. Mr. Popp. said it appears that the ordinance the county
has adopted imposes a burden which cannot be met by developers.
The following were set forth by Mr. Lundy and Mr. Pope:
In the wastewater disposal ordinance, there are three alternatives:
(1) Bonds
(2) Letter of Credit (imposes the same problem as bond)
(3) Cash bond of $10,000 or $200 per unit, whichever is more. A number
of questions have been raised about who would be in charges of these
funds.
Mr. Pope asked the board if they wanted to require the developers to put up a cash bond. If
so, then the planning director will need to clarify the ordinance in this regard. If the board
chooses not to do this, then is there some other kind of protection that is desired.
One type of insurance that is available in the market place, Mr. Pope said, was Machinery and
Boiler Coverage, which insures motors on pumps and mechanical parts that do not function. This is
available on a one-year basis. Procurement could be by the owner of the sewer plant or the public
utility. There is no way known to enforce the renewal of this annual policy.
Mr. Lundy recommended that liability insurance should not be in the Section 82 of the Zoning
Ordinance, but that all insurance requirements should be under the Community Wastewater Treatment
Ordinance.
This discussion terminated so that the Iredell Water Corporation representatives might be
heard.
IREDELL WATER CORPORATION: Members of the Iredell Water Corporation, represented by David
Peeler, engineer with W. K. Dickson and Company came before the board to discuss the Iredell Water
Corporation's current plans. The following were listed as their top priorities:
(1) North Iredell High School line at a cost of $250,000, requesting
one-half this amount from the county.
(2) Northern half of Harmony, $400,000 to $500,00, requesting $250,000
from the county.
Commissioner Mills inquired how much the water corporation could come up with, and Mr. McColl,
president of Iredell Water Corporation, said they would have to readjust other applications to have
funds to put toward these two projects.
Discussion of using funds from the State -appropriated funds for the current year was held.
After further disucssion, the board requested that a request be submitted to the board in writing
and then it will be placed on the table with. the West Iredell, Mooresville, Statesville, and Trout-
man requests.
Commissioner Mills requested that they priortize their requests when submitting to the board.
INSURANCE DISCUSSION CONTINUED: The board directed Jerry Lundy to make the necessary amend-
ments to the Community Wastewater Treatment Ordinance and present them to the board in a public