HomeMy WebLinkAbout1993-11-19 W&S Exhibits
"
AFFIDAVIT OF PUBLICATION
Soclion 4. A owom otlllemenI of
tho D:sIrid'o dcl:t hcs boon filed with
1113 CM of 1113 Board of Commts-
== sion3rs Md of 1113 District and is open
to publll: Inspsction. :,
Sel:Iion 5. This bond order shall IV it with the advenisement thereto annexed it is adjudged by the Court that the said publication was duly and properly
mac take efi6cI upon Its &dcptlon. ~, duly and legally served on the defendant(s).
The foIGgolng bond onl3r haD.
, b9an Introduced end a sworn stal8-.
msnt of ds!lt has b9an filed undsr,
Th.1 The LoeaI Government Bond AI;;! 19
I~ shooing 1113 estirnatsd ~ val'" -
U8 of 1113 N3'tI Hanovar COunty Water
and Sewer District to be.
$3,787,llll8,238 end 1113 nat ds!lt,
thereof, Including the proposed,
bonds to be $39,707,750. A tax will,
be I&vkd to pay 1113 principal of and,.
Intarast on the bonds ~ they sre Is-
susd Anvona who wishes to be
hsaRi on the questions of 1113 validity
of 1113 bond onl3r and the sdvisabillty,
of issuing 1113 bonds may appear at a.
public hearing or an ltdjoumment.
thereof to be hakt at 320 Chsstnut.
Str8eI . Room 100, In Wilmington,.
North Carolina at 6:30 o'clock, P.M.;
on 1113 6th day of December, 1993". 1
Lucia F, Harrell
CIsrk to the Board of,
Commlssionsrs of the.
County of ~ ~.
ttis II!6w Hanover County
Water and S&wer Dlslricl
STATE OF NORTH CAROL~A,
COUNTY OF NEW HANOVER,
NOTICE 0;; PUBLIC HEARING
"BOi\JD O::lDER
AUTHORIZING THE
ISSUANCE OF $12,000,000
GENERAL OBLIGATION
REFUNDING BONDS OF
THE NEW HANOVER COUNTY
WATER AND SEWER DISTRICT'
WHEREAS, New Hanover
County Watsr end &wer Dlslricl (the
"Districf') hEll Issued Md outstand-
ing Sanltsry Sewsr Bonds, dated No-
vembsr I, 1 eoo, maturing in lito"
"""m 1 S94 to 2012, inclusivo (tllo
"ClUiStmding 1S90 Bonds"); and
WHEREAS, Board of Comm!s-
aloooro oj ilia Coullly 01 New Hano- .
Wf, llliiIng 00 ilia eoVemlnR body 01
lIw DldricI, d=ns 11 edvIall!lIe to p:liY
and rolund all or /I po1Ilon 01 lha
OulBtllmllng 1 S90 Bonds purlllI&nt to
and In li:l:COIdanca with The I.oClil
Govsmment Anance AI;;!; and '
WHEREAS, an appIlcatlcn has
b=1 filad wtlh lha SecnltaIy oj lha
LoeaI Govsmment Commlsslono1
North Carolina requesting Commls-
e!cn epptOVQI of the BondS hereinaf-
ter cbccrlllOO /IS n;:qulrod by The L0-
cal Govcmmcnt Flnanc3 Ad, and the
S=Glery 01 1113 Local GovernITl8lJl
Commloo!on has notIllsd the Boartt,
11131 ~n has baoo llCC8pt-
ed lor to 1113 Local Gov.
ernmont Commiosion; NOW,
THEREFORE,
BE IT ORDERED by 1113 Board
of' CommIssion3rs of 1113 County 01
~ HenovGr, slIIIng as the govern-
I 1119 body of 1113 Dislricl, /IS follows:
Sel:Iion 1. The Boord 01 Com-
rnlss!om:rs 01 11113 County of ~
Henovor, slIIIng. /IS 1113 governing
body of the DlsIricl, has IlllC8Il8lMd
and hllreby dslemtlnss 11131 ~ is ed-
viaallls to pey end r&fund all or a
portlon 01 1113 OutoIandlng Bonds. .
&;ctioo 2. In onl3r to raise 1113
~ roqulrod to r&fund the QuI.
slEndlng Bonds as sst Iorlh above, In
B.l!dltlon to any funds wIlll:h may ba
m!!da lIYallab!3 lor such purposll
from QI1y lllhl>T source, bonds 01 1113
District 819 h3r&by authorized and
ehIIll be Issusd pursuant to Th3 Local
Govemmsnt Anance AI;;! 01 North
=~~=:a=.
by this bond order shall be
$12,000,000.
Sel:Iion 3. A l!lll ~ to P-!'y
fro princlp::ll of end Inl:::real on 0liliI
tlondo when dua ahsll be annually
l<lvled and collected.
Before the undersigned, a Notary Public of said County and State,
JACOB BRINSON
who, being duly sworn or affinned. according to the law, says that he/she is
CLASSIFIED ADVERTISING MANAGER
of THE WILMINGTON STAR-NEWS, INC., a corporation organized and doing business under the
Laws of the State of North Carolina, and publishing a newspaper known as WILMINGTON
MORNING STAR & SUNDAY STAR.NEWS in the City of Wilmington
NOTICE OF PUBLIC HEARING@~aOND
ORDERAUTliORIZING THEISSU,6NCE
OF $12,000~OOOGENERAL 08LIGATI
$1 Z, 000., 000 BON
was inserted in the aforesaid newspaper in space. and on dates as follows:
ll/ZZ,lX
1993
and at the time of such publication Wilmington Star. News was a newspaper meeting all the
requirements and qualifications prescribed by Sec. No. 1-597 G.S. of N.C.
CLASSIFIED ADY. MGR
23RO
Title
Sworn or affirmed to, and subscribed before me, this
day
of NO V ,A.D., 19 93
In Testimony Whereof, I have hereunto set my hand and affixed my official seal. the day and
year aforesaid.
'--/7~.
~~
My commission expires
21
day of JUNE ,19 94
Clerk of Superior Coun
..,!:-:- ..
NOTICE OF PUBLIC HEARING
"BOND ORDER AUTHORIZING THE ISSUANCE OF
$12,000,000 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 and outstanding Sanitary
Sewer Bonds, dated November 1, 1990, maturing in the years 1994
to 2012, inclusive (the "outstanding 1990 Bonds"); 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 all or a portion of the
outstanding 1990 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
Board that the application 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 all or a portion of the outstanding Bonds.
/
section 2. In order to raise the money required to
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 $12,000,000.
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 of the Board of commissioners and
of the District and is open to public inspection.
section 5. This bond order shall take effect upon its
adoption.
The foregoing bond order has been introduced and a
sworn statement of debt has been filed under The Local Government
estimated
Bond Act showing the ~ppraised value of the New Hanover County
Water and Sewer District to be $3,787,898,236
and the net debt
thereof, including the proposed bonds, to be $39,707,750
A
tax will be levied to pay the principal of and interest on the
bonds if they are issued. Anyone who wishes to be heard on the
questions of the validity of the bond order and the advisability
-2-
.'
of issuing the bonds may appear at a public hearing or an
adj ournment thereof to be held at 320 Chestnut st - Room 100 in
Wilmington, North Carolina at ~ o'clock, g.M., on the 6th day
of December, 1993.
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
-3-
STATE OF NORTH CAROLINA
SSe :
COUNTY OF NEW HANOVER
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, DO HEREBY CERTIFY, as
follows:
1.
A~~
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 November 19, 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 as said ~inutes 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
1993.
~
k to tne Board of commissioners
of e e County of New Hanover, and
Clerk, New Hanover County Water and
Sewer District
!,.' \
Refunding
EXTRACTS FROM MINUTES OF BOARD OF COMMISSIONERS
OF THE COUNTY OF NEW HANOVER, SITTING AS THE GOVERNING BODY
OF THE NEW HANOVER COUNTY WATER AND SEWER DISTRICT
A regular meeting of the Board of Cormnissioners of the New Hanover
County Water and Sewer District was held on Friday, November 19, 1 993 at
10:00 a.m. in Room 501 of the New Hanover County Administration Building,
320 Chestnut Street, Wilmington, North Carolina, and the following
Commissioners were present and absent:
PRESENT :
E.L. Mathews, Jr., Chairman
Sandra Barone, Vice-Chairman
Robert G. Greer
William A. Caster
ABSENT :
William Sisson
*
*
*
*
*
*
*
C'cm;uissioner BiilrOne
introduced the following bond
order which was read at length:
"BOND ORDER AUTHORIZING THE ISSUANCE OF
$12,000,000 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 and outstanding Sanitary
Sewer Bonds, dated November 1, 1990, maturing in the years 1994
to 2012, inclusive (the "outstanding 1990 Bonds"); 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 all or a portion of the
outstanding 1990 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
I
Secretary of the Local Government Commission has notified the
Board that the application 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 all or a portion of the Outstanding Bonds.
-2--
Section 2. In order to raise the money required to
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 $12,000,000.
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 of the Board of Commissioners and
of the District and is open to public inspection.
section 5. This bond order shall take effect upon its
adoption.
Commissioner Caster
moved the adoption of the
following resolution:
WHEREAS, the bond order entitled, "BOND ORDER
AUTHORIZING THE ISSUANCE OF $12,000,000 GENERAL OBLIGATION
/COUNTY
REFUNDING BONDS OF THE NEW HANOVER 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 November 19,
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
-3-
, ,
,
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 6th day of December, 1993 at 6:30 o'clockP_.M., at
~7.0 r.hpstnnt strppt r Room 100
, in Wilmington, North
Carolina.
(2) The Clerk of the Board of' commissioners 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
the debt incurred 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 Commissioner Greer
and
was
adopted by the following vote:
E.L. Mathews, Jr., Chainnan
Sandra Barone, Vice-Chainnan
Robert G. Greer
William A. Caster
*
AYES:
NAYS:
None
* William Sisson absent.
*
*
*
*
*
-4-
. .
STATE OF NORTH CAROLINA )
.
COUNTY OF NEW HANOVER )
ss. :
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 November, 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 6th day of
December, 1993.
(DISTRICT)
( S~~u,,'"
~'~'~oVER co;;""
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to the Board of Commissioners
County of New Hanover, and
Clerk of New Hanover County Water
and Sewer District
,
STATEMENT OF DEBT OF THE NEW HANOVER COUNTY WATER AND SEWER
DISTRICT, NORTH CAROLINA, MADE AND FILED PURSUANT TO SECTION 159-
55 OF THE LOCAL GOVERNMENT FINANCE ACT, AFTER THE INTRODUCTION OF
THE BOND ORDER AUTHORIZING THE ISSUANCE OF $12,000,000 BONDS,
INTRODUCED AT A MEETING OF THE GOVERNING BODY OF SAID DISTRICT,
HELD ON THE 19TH DAY OF NOVEMBER, 1993.
(a) Appraised value of property
subject to taxation
estimated by County Finance Director.
$3,787,898,216
(b) Gross debt as listed in the
attached "Schedule of Gross Debt."
$ 51.707, 7S0
(c) . Deductions to be made from Gross
Debt as listed in the attached
"Schedule of Deductions."
$ 1 2. 000, 000
(d) Net debt (being the difference
between the Gross Debt and
Deductions).
$ 19, 707, 7S0
(e) Percentage that net debt bears
to the appraised value of
property subject to taxation.
04R
~
o
Finan~~
New Hanover County Water
and Sewer District
/1-/1-QY
Dated:
"
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:
Purpose
Amount
General Obligation
Refunding Bonds
$12,000,000
Total $ 12,000,000
B. Unissued bonds authorized by adopted orders:
Purpose
Amount
$
Total $
c. outstanding debt not evidenced by bonds:
Source of Debt
Purpose
Amount
see attached list
Total $ 787, 750
D. outstanding debt evidenced by bonds:
Date of Bonds
Purpose
Amount
$
see attached list
Total $ 1R,g::W, 000
Total $ 1:\1 7n7 71:\n
\
SCHEDULE OF DEDUCTIONS
(A) Funding and refunding bonds authorized by
orders introduced but not yet adopted.
$ 12,000,000
(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
$12.000.000
STATE OF NORTH CAROLINA )
NEW HANOVER COUNTY WATER )
AND SEWER DISTRICT )
ss. :
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.
F~:l~
Sworn to and subscribed before
me on the day of the date of
s~e7ii'~_ A __D,
Notary b ic O~-
My Commission expires the )~hday of
""aaovooo,o
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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 November, 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 /9~ day of November,
1993.
\\"''''''''''
...."\,"OVE/f 0;;'"
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.Y/~-
Clerk to t e Board of Commissioners
of the County of New Hanover and
Clerk of New Hanover County Water
and Sewer District
c !:late' 11/18/93
Time 12:31:12
Date of Issue
01/01/1992
01/01/1993
NEW HANOVER COUNTY, NC
Page
LON G - T E R M DEB T B Y I S SUE
Installment Debt for Groups 08 - 99 as of 10/31/1993
Based on Date Paid Accounts 0000000000000000 - 9999999999999999
FUNB 9110007-008
CAPE FEAR UTILITIES
Description
Principal Balance
TELEMENTRY SYSTEM
CAPE FEAR UTILITIES
150,224.66
637,525.18
Total
787,749.84
'Date 11/18/93
Time 12:30:42
Date of Issue
11/01/1990
03/01/1993
NEW HANOVER COUNTY, NC
Page
LON G - T E R H DEB T B Y I S SUE
Bonded Debt for Groups 08 - 99 as of 10/31/1993
Based on Date Paid Accounts 0000000000000000 - 9999999999999999
Description
PrincipaL BaLance
NEW HANOVER CO. W & S DISTRICT
G/O REFUNDING SEWER BONDS
SEWER- G/O BONDS 1990
W/S DISTRICT REFUNDING, 1993
12,040,000.00
26,880,000.00
TotaL
38,920,000.00
RESOLUTION AUTHORIZING THE FILING WITH THE LOCAL GOVERNMENT
COMMISSION OF NORTH CAROLINA OF AN APPLICATION FOR THE APPROVAL
OF REFUNDING BONDS
WHEREAS, interest rates in the tax-exempt bond market are at such a level
that it is financially feasible to achieve debt service savings on several outstanding
bond issues, particularly, the Water and Sewer District's 1990 Sanitary Sewer
Bonds; and
WHEREAS, the District has determined to proceed with the authorization
process for the issuance of refunding bonds of the District in order to best position
itself to take advantage of any debt service savings, it being the intent of the Board
not to proceed with the refunding unless acceptable debt service savings can be
achieved; now, therefore,
BE IT RESOLVED, by the District Board of Commissioners of the New
Hanover County Water and Sewer District that:
Section 1. Andrew J. Atkinson, District Finance Director, is hereby
authorized to file an application with the Local Government Commission of North
Carolina for the approval of refunding all or a portion of the bonds of the District
listed above.
t-
Section 2. Andrew J. Atkinson, District Finance Director, is hereby directed
to authorize LeBoeuf, Lamb, Leiby & MacRae, Bond Counsel to the District, to
commence the preparation of the documents necessary to authorize said refunding
bonds, and employ Craigie Incorporated, as financial advisor for the District for the
purpose of preparing analyses as needed in the process.
Section 3. The proposed refunding bonds shall not be issued unless the
District is able to achieve acceptable present value d~bt service savings.
Section 4. The Clerk to the District Board of Commissioners is hereby
directed to send a certified copy of this resolution to the Secretary of the Local
Government Commission of North Carolina.
Section 5. This resolution shall take effect upon its passage.
Section 6. This resolution was adopted this 19th day of November 1993.
1?d~
Robert G. Greer, Chairman