HomeMy WebLinkAbout1993-01-04 W&S Exhibits
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EXTRACTS FROM MINUTES OF BOARD COMMISSIONERS OF THE COUNTY
OF NEW HANOVER, SITTING AS THE GOVERNING BODY OF THE
NEW HANOVER COUNTY WATER AND SEWER DISTRICT
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The Clerk of the Board of Commissioners of the County
of New Hanover and of the New Hanover County Water and Sewer
District reported to the Board, sitting as the governing body of
the District, that the bond order entitled, "BOND ORDER
AUTHORIZING THE ISSUANCE OF $30,000,000 GENERAL OBLIGATION
REFUNDING BONDS OF THE NEW HANOVER COUNTY WATER AND SEWER
DISTRICT," which had been introduced on January 4, 1993, had been
published on January 7, 1993, with notice that the Board, sitting
as the governing body of the District, would hold a public
hearing thereon on January 19, 1993, at ~ o'clock, A.M. The
Clerk also reported that the District's Finance Officer had filed
in the Clerk's office a statement of debt complying with the
provisions of The Local Government Bond Act, and such statement
as filed showed the net indebtedness of the District to be
{.~15% of the appraised valuation of property in the District
subject to taxation.
Chairman E.L. Mathews. Jr.
moved that the Board of
commissioners of the County of New Hanover, sitting as the
governing body of the New Hanover County Water and Sewer
District, proceed to hold a public hearing on the refunding bond
order. The motion was seconded by Vice-Chairman Sandra Barone and
was unanimously adopted.
At 9:00 o'clock, ~.M., the Chairman of the Board of
commissioners of the County of New Hanover, sitting as the
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governing body of the New Hanover County Water and Sewer
District, announced that the Board would hear anyone who wished
to be heard on the questions of the validity of the refunding
bond order and the advisability of issuing the refunding bonds.
At the direction of the Chairman, the Clerk of the Board of
commissioners and of the District read the refunding bond order
and the published notice of hearing.
After the Board had heard all persons who requested to
be heard in connection with the foregoing questions,
~hC'lirm;:m F. T, MC'lthpws, ,Tr
moved that the public hearing be closed.
The motion was seconded by Vice-Chairman Sandra Barone and was
unanimously adopted.
Chainnan E.L~ Mathewsmoved that the Board of Commissioners
of the County of New Hanover, sitting as the governing body of
the New Hanover County Water and Sewer District, adopt without
change or amendment cind direct the Clerk of the Board of
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commissioners and of the District to publish as prescribed by The
Local Government Bond Act the bond order entitled, "BOND ORDER
AUTHORIZING THE ISSUANCE OF $30,000,000 GENERAL OBLIGATION
REFUNDING BONDS OF THE NEW HANOVER COUNTY WATER AND SEWER
DISTRICT," introduced at the meeting of the Board of
commissioners of the County of New Hanover, sitting as the
governing body of the New Hanover County Water and Sewer
District, held on January 4, 1993. The motion was seconded by
NAYS:
and was adopted by the following vote:
E.L. Mathews, Jr., Chairman
Sandra Barone, Vic'j-Chairman
Robert G. Greer~
William A. Caster
William Sisson
Vic::e--doirrrBn :J3ID::re
AYES:
None
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BXTRACTS PROH HXNUTBS 01' BOAaD 01' CO!PIXSSZORBRS 01' THE COUBTY OF
HEW HANOVER, SXftIRG AS THE GOVERH:IRG BODY OF THE NEW HANOVER
COOlft'Y WATER AND SEWER DISftrCT
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Sandr;t Rrlrone
introduced the following bond
order which was read at length:
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"BOND ORDER AUTHORIZING THE ISSUANCE OF
$30,000,000 GENERAL OBLIGATION REFUNDING BONDS OF
THE NEW HANOVER COUNTY WATER AND SEWER DISTRICT"
WHEREAS, the New Hanover County Water and Sewer
District (the "District") has issued General Obligation Refunding
Bonds, dated August 1, 1986 (the 111986 Refunding Bonds"), and
$10,645,000 of the 1986 Refunding Bonds are outstanding (the
"outstanding 1986 Refunding Bonds"); and
WHEREAS, the District has issued Sanitary Sewer Bonds,
Series 1986, dated August 1, 1986 (the "1986 Sewer Bonds"), and
$10,085,000 of the 1986 Sewer Bonds are outstanding (the
"Outstanding 1986 Sewer Bonds"); and
WHEREAS, the District has issued a Sanitary Sewer Bond,
Series 1989, dated August 14, 1989 (the "1989 Sewer Bond"), and
$6,008,000 of the 1989 Sewer Bond is outstanding (the
"Outstanding 1989 Sewer Bond"); and
WHEREAS, the Board of Commissioners of the County of
New Hanover, sitting as the governing body of the District, deems
it advisable to pay and refund the outstanding 1986 Refunding
Bonds, the outstanding 1986 Sewer Bonds, and the Outstanding 1989
Sewer Bond (collectively, the "outstanding Bonds") pursuant to
and in accordance with The Local Government Finance Act; and
WHEREAS, an application has been filed with the
Secretary of the Local Government commission of North Carolina
requesting Commission approval of the Bonds hereinafter described
as required by The Local Government Finance Act, and the
Secretary of the Local Government Commission has notified the
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Board that th~.~pplication has been accepted for submission to
the Local Government commission; NOW, THEREFORE,
BE IT ORDERED by the Board of Commissioners of the
County of New Hanover, sitting as the governing body of the
District, as follows:
section 1. The Board of Commissioners of the County of
New Hanover, sitting as the governing body of the District, has
ascertained and hereby determines that it is advisable to pay and
refund the Outstanding Bonds.
section 2. In order to raise the money required to pay
and refund the Outstanding Bonds as set forth above, in addition
to any funds which may be made available for such purpose from
any other source, bonds of the District are hereby authorized and
shall be issued pursuant to The Local Government Finance Act of
North Carolina. The maximum aggregate principal amount of bonds
authorized by this bond order shall be $30,000,000.
section 3. A tax sufficient to pay the principal of
and interest on said bonds when due shall be annually levied and
collected.
section 4. A sworn statement of the District's debt
has been filed with the Clerk to the Board and of the District
and is open to public inspection.
section 5. This bond order shall take effect upon its
adoption.
Sandra Barone
moved the adoption of the
following resolution:
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WHEREAS, the bond order entitled, "BOND ORDER
AUTHORIZING THE ISSUANCE OF $30,000,000 GENERAL OBLIGATION
REFUNDING BONDS OF THE NEW HANOVER COUNTY WATER AND SEWER
DISTRICT," has been introduced at the meeting of the Board of
Commissioners of the County of New Hanover, sitting as the
governing body of the New Hanover County Water and Sewer
District, held on January 4, 1993 and the Board of Commissioners
of the County of New Hanover, sitting as the governing body of
the District, desires to provide for the holding of a public
hearing thereon and the submission of a statement of debt in
connection therewith as required by The Local Government Bond
Act; NOW, THEREFORE,
BE IT RESOLVED by the Board of Commissioners of the
County of New Hanover, sitting as the governing body of the New
Hanover County Water and Sewer District, as follows:
(1) The public hearing upon said bond order shall be
held on the 19th day of January, 1993 at ~ o'clock A.M., at
the J'\~~,,"mhly 'Rnnm, 24 N. Third street, Room 301 , in
Wilmington, North Carolina.
(2) The Clerk to the Board and of the District is
hereby directed to cause a copy of the bond order to be published
with a notice of such hearing in the form prescribed by law in a
qualified newspaper no fewer than six days prior to such pUblic
hearing.
(3) The District's Finance Officer is hereby directed
to file with the Clerk prior to publication of the bond order
with the notice of such public hearing, a statement setting forth
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the debt incurfed or to be incurred, the appraised value of
property subject to taxation by the District and the net debt of
the District.
The motion was seconded by William Sisson
was adopted by the following vote:
and
AYES: E.L. Mathews, Jr., Chairman
Sandra Barone, Vice-Chainnan
Robert G. Greer
William A. Caster
William Sisson
NAYS:
None
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STATE OF NORTH CAROLINA
)
: sa.:
)
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NEW HANOVER COUNTY
WATER AND SEWER DISTRICT
I, LUCIE F. HARRELL, Clerk to the Board of Commis-
sioners of the County of New Hanover amd Clerk of the New Hanover
County Water and Sewer District, DO HEREBY CERTIFY, as follows:
1. A ~~.J meeting of the Board of
Commissioners of the County of New Hanover, sitting as the
governing body of the New Hanover County Water and Sewer
District, located in the State of North Carolina, was duly held
on January 4, 1993, proper notice of such meeting having been
given as required by North Carolina statutes, and minutes of said
meeting have been duly recorded in the Minute Book kept by me in
accordance with law for the purpose of recording the minutes of
said Board.
2. I have compared the attached extract with said
minutes so recorded and said extract is a true copy of said
minutes and of the whole thereof insofar ~s said minutes relate
to matters referred to in said extract:'
3. Said minutes correctly state the time when said
meeting was convened and the place where such meeting was held
and the members of said Board who attended said meeting.
IN WITNESS WHEREOF, I have hereunto set my hand and
have hereunto affixed the corporate seal of said District, this
~ day of January, 1993.
(DISTRICT)
(SEAL)
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Cl rk to the Board 0
Comm.ssioners of the
County of New Hanover, and
Clerk, New Hanover County
Water and Sewer District
...
STATE OF NORTH CAROLINA )
.
.
NEW HANOVER COUNTY )
WATER AND SEWER DISTRICT )
SSe :
I, LUCIE F. HARRELL, Clerk to the Board of
Commissioners of the County of New Hanover and Clerk of the New
Hanover County Water and Sewer District, in the state of North
Carolina, DO HEREBY CERTIFY that I have compared the attached
copy of the debt statement with the original debt statement filed
by the Finance Officer of said District in the office of said
Clerk on the ~ day of January, 1993 and that said copy is a
true copy of said statement and of the whole thereof.
I FURTHER CERTIFY that said debt statement was filed by
said Finance Officer on said last-mentioned date and has since it
was so filed remained on file in the office of said Clerk and has
been kept open to public inspection.
IN WITNESS WHEREOF, I have hereunto set my hand and
have affixed the corporate seal of said District, this 19th day
of January, 1993.
(DISTRTl"T\
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of the
and
STATEMENT OF DEBT OF THB NEW HANOVER COUNTY WATER AND SEWER
DXSTRICT, NORTH CAROLINA, MADE AND FILED PURSUANT TO SECTION 159-
5S OF THE LOCAL GOVERNMENT FINANCE ACT, AFTER THE INTRODUCTXON OF
THE BOND ORDER AUTHORIZING THE ISSUANCE OF $30,000,000 BONDS,
INTRODUCED AT A HEETXNG OF THE GOVERNING BODY OF SAID DISTRICT,
HELD ON THE 4TH DAY OF JANUARY, 1993.
(a) Appraised value of property
subject to taxation as
certified by the County
Assessor.
$ 3.617.150.050
(b) Gross debt as listed in the
attached "Schedule of Gross Debt.1I
$
69.623,253
(c) Deductions to be made from Gross
Debt as listed in the attached
"Schedule of Deductions."
$
30,000.000
(d) Net debt (being the difference
between the Gross Debt and
Deductions).
(e) Percentage that net debt bears
to the appraised value of
property subject to taxation.
$
39,623,253
1.095%
Fin~~!~
New Hanover County Water
and Sewer District
Dated:
01-05-93
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SCHEDULE OF GROSS DEBT
(The debt described below should not include debt incurred
or to be incurred in anticipation of the collection of taxes
or other revenues or in anticipation of the sale of bonds
other than funding and refunding bonds. The debt described
below should not include revenue bonds.)
A. Bonds authorized by orders introduced but not yet
adopted:
PurDose
Amount
General Obligation
Refunding Bonds
$30,000,000
Total $30.000.000
B. Unissued bonds authorized by adopted orders:
Purpose
Amount
$
Total $
c. Outstanding debt not evidenced by bonds:
Source of Debt.
Purl)ose
Amount.
Installment Contract Telemetry System 195,253
Total $
195,253
D. Outstanding debt evidenced by bonds:
Date of Bonds
PurDose
Amount
Various - See Attached List
$ 39,428,000
Total $ 39,428,000
Total $ 69.623.253
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SCHEDULE OF DEDUCTIONS
(A) Funding and refunding bonds authorized by
orders introduced but not yet adopted.
$ 30.000.000
(B) Funding and refunding bonds authorized
but not issued. $
(C) Amount held in sinking funds or otherwise
for the payment of gross debt other than
debt incurred for water, gas, electric
light or power purposes or sanitary sewer
purposes (to the extent deductible under
section 159-55(b) of The Local Government
Finance Act.) $
(D) Bonded debt included in gross debt and
incurred or to be incurred for water,
gas .or electric light or power purposes. $
(E) Bonded debt included in gross debt and in-
curred or to be incurred for sanitary sewer
system purposes (to the extent deductible
by subsection (b) of section 159-55 of
The Local Government Finance Act). $
(F) Uncollected special assessments levied or
to be levied for local improvements for
which gross debt was or is to be incurred,
to the extent to be applied to the pay-
ment of such gross debt. $
(G) Estimate of special assessments to be
levied for local improvements for which
any part of gross debt (that is not other-
wise deducted) was or is to be incurred,
to the extent that the special assess-
ments, when collected, will be applied
to the payment of any part of gross
debt.
Total
$
$ 10.000.000
...
STATE OF NORTH CAROLINA )
: ss.:
NEW HANOVER COUNTY )
WATER AND SEWER DISTRICT )
ANDREW J. ATKINSON, being duly sworn, says that he is
the Finance Officer of the New Hanover County Water and Sewer
District, in the state of North Carolina; that by a resolution
passed by the Governing Board thereof he was authorized to make
the foregoing statement; and that the foregoing statement is true
and was made and subscribed by him after the introduction of the
order referred to in the heading of said statement.
~9-~
F1nance Q'ff cer
the 30th day of
JuJ,y
, 19JM.
My
STATE OF NORTH CAROLINA
)
: ss.:
)
)
NEW HANOVER COUNTY WATER
AND SEWER DISTRICT
I, the undersigned Clerk to the Board of Commissioners
of the County of New Hanover and of the New Hanover County Water
and Sewer District, in the State of North Carolina, DO HEREBY
CERTIFY that the foregoing statement and accompanying affidavit
were filed in my office on the ~ day of January, 1993, after
the introduction of the order referred to in the heading of said
statement.
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the seal of said District, this~ day of January,
1993.
(DISTRICT)
(SEAL)
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of
Clerk,
Water and
Date 12/30/92
Time 15:44:40
Date of Issue
08/01/1986
08/01/1986
08/14/1989
11/01/1990
NEW HANOVER COUNTY, Ne
Page
LON G - T E R M DEB T B Y I S SUE
Bonded Debt for Groups 07 - DB as of 12/31/1992
Based on Date Paid Accounts 0000000000000000 - 9999999999999999
Description
Principal Balance
N H C WATER & SEWER DISTRICT
GENERAL OBLIGATION REFUNDING
WlS Bonds 1989
NEW HANOVER CO. W & S DISTRICT
SEWER CONSTRUCTION
SEIoIER-REFUNDING OF 85 ISSUE
SEIoIER-FmHA Bonds CONSTRUCTION
SEWER- GlO BONDS 1990
10,085,000.00
10,645,000.00
6,008,000.00
12,690,000.00
Total
39,428,000.00