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2003-05-05 W&S Exhibits " ~(Q)fF>>W STATEMENT OF DEBT OF THE COUNTY OF NEW HANOVER, 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 $35,000,000 BONDS, INTRODUCED AT A MEETING OF THE GOVERNING BODY OF SAID COUNTY, HELD ON THE 21st DAY OF APRIL, 2003. (a) Assessed value of property subject to taxation as certified by the County Assessor. $16,524,186,222 (b) Gross debt as listed in the attached "Schedule of Gross Debt. " $ 405,729,260 (c) Deductions to be made from Gross Debt as listed in the attached "Schedule of Deductions." $ 39,347,881 (d) Net debt (being the difference between the Gross Debt and Deductions); $ 366.381,379 (e) Percentage that net debt bears to the appraised value ofproperty subject to taxation. $ 2.22% " 1 I Finance Officer of the County of New Hanover Dated: i /1/03 .. 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 Refunding Bonds $35,000,000 Total $35,000,000 B. Unissued bonds authorized by adopted orders: Purpose Amount None $ 0 Total ~ f/J C. Outstanding debt not evidenced by bonds: Source of Debt Purpose Amount Attachment LGC-109B $149,874,260 Total $ 149,874,260 D. Outstanding debt evidenced by bonds: Date of Bonds Purpose Amount Attachment LGC-109A $ 220,855,000 Total $ 220,855,000 Total $ 40') nq ?nO tDate 01/29/03 r Time 13: 32: 45 Date of Issue 12/14/2000 12/19/2000 12/19/2000 OS/25/2001 05/25/2001 10/15/2001 04/09/2002 08/0S/1989 01/01/1993 06/15/1995 09/13/1996 12/01/1997 12/01/1997 12/01/1997 12/01/1997 03/19/1998 06/01/1998 10/13/1998 10/13/1998 12/01/1998 01/15/1999 03/03/1999 04/01/1999 04/12/1999 10/22/1999 10/22/19 9 9 NEW HANOVER COUNTY, NC Attachment LGC-109B 1 ISSUE LON G - T E R M DEB T B Y I... . lnstallment Debt for Groups 00 - 99 as of 06/30/2002 Based on Date Paid Accounts 0000000000000000 - 9999999999999999 Description Jail complex Financing 2000 Series COPS-General Fund 2000 Series COPS-Bnv Mgmt Fund SUNTR.lJS'I' ".:..:ASING-WAS'I'EC LOADER SUNTRUS'I' LEASING-COMPACTOR 200~ Series COPS-General Fund SHAW SPEAKS BUILDING SOCIAL SER.VICES llUILDING CAPE FEAR UTILITIES' COASTAL CAROLINA UTILITIES FUNE 96'10079-001 CERT OF PARTICIPATION-GENERAL COPS-PARK LAND/GENERAL CERT OF PARTICIPATION-ENV MGMT CERT OF PARTICIPATION-W/S FlJN13 9310036'-005 FlJN13 9310036'-006 Heller Financial Leasing, Inc Heller Financial Leasing, Inc. IBM-Mainframe Downgrading purchase of Airlie Gardens Startup COots - Airlie Gardens city of Wilmington Records Mgmt Sys and Jail Sys Register of Deeds/Sheriff Pept Fire services-Pumper Truck Jail Complex Financing 2000 COPS - General Fund 2000 COPS-ENV MGMT (WASTEC) SLC 500077B001-LOADER. (WASTEC) SLC S000778001-COMPACTOR (LFl 2001 Series COPS-General Fund SHAW SPEAKS BUILDING DSS BUILDING PURCHASE CAPE FEAR UTILITIES COASTAL ~~OLINA UTILITIES ERANCH LIBRARY-NORTHCHASE 1997 COPS-GENERAL 1997 COPS-PARK LAND/GENERAL 1997 COPS-ENV MGMT (LANDFILL) COPS-WATER/SEWER. 1998 International Ambulance W/S ENG-SEWER JET/SEWER CAMERA Sheriff Oept-Radio Equipment Dump Trucks/BUlldozer (LF) Mainframe Downgrading Purchase of Airlie Gardens Startup - Airlie Gardens Wilmington-13S N. 4Ch Street RMS and Jail System systems Furniture & Vehicles Pumper Truck for Fire Dept Total C.oPs Se.ri.eS 2Co3 J Page Principal Balance 0.00 25,575,768.50 1,434,231.49 117,3.95.19 240,870.69 59,390,000.00 650,000.00 832,7.94.80 52,805.64 230,310.30 0.00 4,S07,06l.17 4,843,200.00 403,600.00 10,426,138.83 0.00 0.00 0.00 122,959.96 . 0.00 0.00 80,234.28 952,627.82 94, Sl3.30 278,121.49 132,327.04 110,364,260. So 3'1, 51bJ DCO ~ Ifq/8'71j~&O Date 01/29/03 , Time 13: 32 :23 Dace of Issue 06/01/2001 06/01/2002 06/01/2002 12/01/1990 08/01/1992 11/0111993 03/01/1993 03/01/1993 01/01/1994 01/01/1994 01/01/1994 01/01/1994 09/01/1995 09/01/1995 11/01/1996 11/0111996 08/01/1998 08/01/1998 08/01/1998 02/01/2000 02/01/2000 Attachment LGC-I09A NEW HANOVER COUNTY, NC ISSUE LON G - T E R M DEB T B Y Bonded Debt for Groups 00 - 99 as of 06/30/2002 Based on Date Paid Accounts 0000000000000000 - 9999999999999999 Description $42M School Bonds, 2001 $14M 2002 GO School Bonds $14.3M 20l".! CFCC GO Bonds SOLID WASTE DISPOSAL-SERIES A SOLID WASTE DISPOSAL 1993 SPECIAL OBLIGATION BONDS GIO REFUNDING SEWER BONDS G/D SCHOOL REFUNDING BONDS 1994 REFUNDING PUBLIC IMP-125 1994 REFUNDING PUBLIC IMP-110 1994 REFUNDING SOLID WASTE 1994 REFUNDING WATER & SEWER SCHOOL BONDS, SERIES 1995-FIXED SCHOOL BONOS,SERIES 1995-VAR 1996 PUBLIC IMPROVEMENT BONDS 1996 PUBLIC IMPROVEMENT BONDS $9M CFCC GO Bonds, Series 1998 S10M CFCC GO Bonds,Series 1998 $14M School Bonds, Series 1998 $55M School GO Bonds, 2000 $14M CFCC ~w Bonds, 2000 ~e.w Hanovev CoUJ'i-h-\ t..\tIAJ H-o...n.o\.l.Q.{ Coun+t\ W a.:.+ e. v () t'\d ~e vJ.f v :J),,~ +r i c.:{- $42M School Bonds, 2001 $14M 2002 GO School Bond,s $14.3M 2002 CFCC GO Bon~s SERIES 1990A - TAXABLE SOLID WASTE, SERIES 1992 1993 SPECIAL OBLIGATION BONDS wls DISTRICT REFUNDING, 1993 G/O SCHOOL REFUNDING, 1993 1994 PUBLIC IMPROVEMENT-125 1994 PUBLIC IMPROVEMENT-ll0 1994 SOLID WASTE DISPOSAL BOND 1994 WATER/SEWER DISTRICT SCHOOL BONDS,SERIES 1995-FIXED SCHOOL BONDS,SERIES 1995-VAR 1996 GO BONDS . NHC SCHOOLS $4.9M CFCC GO Bonds, 1996 $9M CFCC GO Bonds, Series 1998 $lOM CFCC GO Bonds,Series 1998 $14M School 5ond~, Series 1993 $55M School GO Bonds, 2000 $14M CFCC GO Bonds, 2000 Total ~ ;) ';)-l!)j BScs;, ObD ~ 10\ 55b D"CO L l Page 1 Principal Balance 42,000,000.00 14,000,000.00 14,300,000.00 990,000.00 0.00 550,000.00 13,010,000.00 350,000.00 1,732,800.00 3,6S2,200.00 13,950,000.00 6,540,000.00 17,550,000.00 9,000,000.00 7,391,553.75 J,658,446.25 7,650,000.00 8,500,000.00 11,900,000.00 50,735,479.00 12,914,521.00 240,405,000.00 ., SCHEDULE OF DEDUCTIONS (A) Funding and refunding bonds authorized by orders introduced but not yet adopted. $ 35,000,000 (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 incurred 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 payment 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 otherwise deducted) was or is to be incurred, to the extent that the special assessments, when collected, will be applied to the payment of any part of gross debt. $ 4,347,881 Total $ 39,347,881 ... ' .. - . 0.. . . STATE OF NORTH CAROLINA ) : SS.: COUNTY OF NEW HANOVER ) Bruce T. Shell, being duly sworn, says that he is the Finance Officer of the County of New Hanover, 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. I ~ Finance Officer Sworn to ar{~~\t~~~~q~fore me on the....t~!.im.il4~'" said stat~Ilt: ....~':;. (,L1Ji~~~ 1!~~~C~/ .ff} -:, ~ e. .. CJ ~ My comdr~f~:::;~;~ ~''3o 1ay of CJ7 1;;...'(.,'CJtJN"'~, - ""It """ , 200 f. STATE OF NORTH CAROLINA ) : ss.: COUNTY OF NEW HANOVER ) I, the undersigned Clerk of the Board of Commissioners of the County of New Hanover, in the State of North Carolina, DO HEREBY CERTIFY that the foregoing statement and accompanying affidavit were filed in my office on thebU~ay of April, 2003 after the introduction of the order referred to in the heading of said statement. IN WITNESS \VHEREOF, I have hereunto set my hand and affixed the seal of said County, this~ay of April, 2003. C rk, Board of Commissioners of the County of New Hanover STATE OF NORTH CAROLINA) : ss.: COUNTY OF NEW HANOVER ) I, TERESA P. ELMORE, Deputy Clerk ofthe Board of Commissioners ofthe County of New Hanover, DO HEREBY CERTIFY, as follows: 1. A regular meeting of the Board of Commissioners of the County of New Hanover, a county located in the State of North Carolina, was duly held on April 21, 2003 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 of Commissioners. 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 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 of Commissioners who attended said meeting. IN WITNESS WHEREOF, I have hereunto set my hand and have hereunto affixed the corporate seal of said County, this 24th day of April, 2003. (SEAL) J~P~ Deputy Clerk, Board of Commissioners EXTRACTS FROM MINUTES OF THE COUNTY BOARD OF COMMISSIONERS The Board of Commissioners of the County of New Hanover (the "County") held a meeting at the Historic New Hanover County Courthouse, 24 North Third Street, Room 301, Wilmington, North Carolina on April 21, 2003 at 1 :00 p.m.. The following Commissioners were: Present: Ted Davis, Jr., Chairman Robert G. Greer, Vice-Chairman William A. Caster, Commissioner Nancy H. Pritchett, Commissioner Absent: Julia Boseman, Commissioner Also present were: Allen O'Neal, County Manager Wanda M. Copley, County Attorney Teresa P. Elmore, Deputy Clerk to the Board * * * * * * * Chairman Ted Davis, Jr. introduced the following bond order which was read at length: "BOND ORDER AUTHORIZING THE ISSUANCE OF $35,000,000 GENERAL OBLIGATION REFUNDING BONDS OF THE COUNTY OF NEW HANOVER" WHEREAS, the County of New Hanover (the "County") has issued Solid Waste Disposal Refunding Bonds, Series 1994, dated January 1, 1994 and $11,985,000 of such Bonds maturing in the years 2003 to 2012, inclusive, are outstanding (the "Outstanding Refunding Bonds"); and WHEREAS, the County has issued Public Improvement Refunding Bonds, Series 1994, dated January 1, 1994 and $5,415,000 of such Bonds maturing in the years 2003 to 2009, inclusive, are outstanding (the "Outstanding Public Improvement Refunding Bonds"); and WHEREAS, the County has issued School Bonds, Series 1995, dated September 1, 1995 and $16,750,000 of such Bonds maturing in the years 2004 to 2012, inclusive, are outstanding (the "Outstanding School Bonds"); and WHEREAS, the Board of Commissioners of the County deems it advisable to pay and refund all or a portion of the Outstanding Refunding Bonds, the Outstanding Public Improvement Refunding Bonds and the Outstanding School 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, as follows: Section I. The Board of Commissioners of the County has ascertained and hereby determines that it is advisable to pay and refund all or a portion of the Outstanding Refunding Bonds, the Outstanding Public Improvement Refunding Bonds and the Outstanding School Bonds. Section 2. In order to raise the money required to pay and refund the Outstanding Refunding Bonds, the Outstanding Public Improvement Refunding Bonds and the Outstanding School 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 County 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 $35,000,000. 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 County's debt has been filed with the Clerk of the Board of Commissioners and is open to public inspection. Section 5. This bond order shall take effect upon its adoption. Commissioner William A. Caster moved the adoption of the following resolution: WHEREAS, the bond order entitled, "BOND ORDER AUTHORIZING THE ISSUANCE OF $35,000,000 GENERAL OBLIGA nON REFUNDING BONDS OF THE COUNTY OF NEW HANOVER," has been introduced at the meeting of the Board of Commissioners ofthe County held on April 21 , 2003 and the Board of Commissioners of the County 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 RESOL VED by the Board of Commissioners of the County of New Hanover, as follows: (1) The public hearing upon said bond order shall be held on the 5th day of May, 2003, at 5:30 o'clock P.M. in Room 301 in the New Hanover County Courthouse, 24 North Third Street, in Wilmington, North Carolina. (2) The Clerk of the Board of Commissioners 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 County'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 assessed value of property subject to taxation by the County and the net debt of the County. The motion was seconded by Commissioner Nancy H. Pritchett and was adopted by the following vote: AYES: Ted Davis, Jr., Chairman Robert G. Greer, Vice-Chairman William A. Caster, Commissioner Nancy H. Pritchett, Commissioner NAYS: None. ABSENT: Julia Boseman, Commissioner * * * * * 3 BOND ORDER AUTHORIZING THE ISSUANCE OF $10,500,000 GENERAL OBLIGATION REFUNDING BONDS OF NEW HANOVER COUNTY WATER AND SEWER DISTRICT WHEREAS, New Hanover County Water and Sewer District (the "District") has issued General Obligation Refunding Bonds, Series 1993, dated March 1, 1993 and $9,430,000 of such Bonds maturing in the years 2004 to 2011, inclusive, are outstanding (the "Outstanding Refunding 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 refund the Outstanding Refunding 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 ofthe 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 New Hanover County Water and Sewer District, as follows: Section 1. The Board of Commissioners ofthe County of New Hanover, sitting as the governing body of the District, has ascertained and hereby determines that it is advisable to refund the Outstanding Refunding Bonds. Section 2. In order to raise the money required to refund the Outstanding Refunding 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 $10,500,000. 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. Adopted th~~,tmf,~th day of May, 2003. "., '" ,., ~tR COll",,.",, '~.. C .0...... r', $' .0.. ..00 . 'k--:'", ~.o . II." -:. [S~t '.l\ ~ :=. \i: b= : .: : -: _ \..-:.(. tt:_ ; .. 00 ....,J:~>.: t; ~ "..,~. .........-...... .. ~ ;: ~ e.",:- .0- 'V.. ~ .......0. 'V,4f. .." "~ "ND IE.-- "...... A TTE~-"~'''.m'''''' ~J )'~ erk to the Board NEW HANOVER COUNTY ~~STRICT Robert G. Greer, Chairman RESOLUTION SETTING A PUBLIC HEARING ON THE BOND ORDER AUTHORIZING THE ISSUANCE OF $7,000,000 GENERAL OBLIGATION REFUNDING BONDS NEW HANOVER COUNTY WATER AND SEWER DISTRICT WHEREAS, the bond order entitled, "BOND ORDER AUTHORIZING THE ISSUANCE OF $7,000,000 GENERAL OBLIGATION REFUNDING BONDS OF NEW HANOVER COUNTY WATER AND SEWER DISTRICT," has been introduced at the meeting of the Board of Commissioners ofthe County of New Hanover, sitting as the governing body ofthe District, held on May 5, 2003 and the Board of Commissioners of the County of New Hanover, sitting as the governing body ofthe 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 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 May, 2003, at 9:00 o'clock AM. in Room 301 in the Historic New Hanover County Courthouse, 24 North Third Street, in Wilmington, North Carolina. (2) The Clerk ofthe 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 assessed value of property subject to taxation by the District and the net debt of the District. This the 5th day of May, 2003. ""u",,,,,, ........' o"ER COli. 'III, L....~ 0000.00 IIf'}oL'" ,'" 0.0 0.0 r' ~.o . . , (SEATi~l "\ ~~ ~;:e: t~ ': - . 0 . 4.. - :: : ~:t-= :11.~ "':0: -:. eo _ -/, : ~~ .. ~ 0 ~., ,.IOa" . A.. .. -:. .A eo . ....-=*'10'1/ ,- e, ...... , '.,A '0. '_ Ano .0- ~ ,'" '" .r 4 ......... Q" ATTEST~"", 1Vt) 8E'oNt~\\\\ "''1''80'''' u~ and Sewer District Robert G. Greer, Chairman ~~~ Cl to the Board STATE OF NORTH CAROLINA) : ss.: COUNTY OF NEW HANOVER ) I, LUCIE F. HARRELL, Clerk ofthe Board of Commissioners ofthe County of New Hanover, 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 County in the office of said Clerk on the ~/~ day of April, 2003 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 County, this 5th day of May, 2003. v</v~ Cle , Board of Commissioners of the County of New Hanover STATE OF NORTH CAROLINA ) : ss.: NEW HANOVER COUNTY WATER AND SEWER DISTRICT ) I, LUCIE F. HARRELL, Clerk of 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 regular 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 May 5, 2003 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 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 May, 2003. ",,,,,",,,, "", ~t:R COli"'" ...~d\'\':,......... /lIJo).''''' ~~\~:? e.o - ..4_'::. 'III .. . . ~~ lIP : au .. . ". ".:' =~: .i:: : : 0:"': : .Jlt \ : ~= ........ ~,.Q:... ~ "'A". .....;'\ ,olOA..>. ._0 A;. : ~ ~ ...'. "::.....~~..... ~....~ ~ ., 4. ........ ~ '\) " ""1. ~O SE'l4E: \",,, """....""" Board of Commissioners of the County of New Hano , and Clerk of the New Hanover County Water and Sewer District EXTRACTS FROM MINUTES OF BOARD OF COMMISSIONERS OF THE COUNTY OF NEW HANOVER, SITTING AS THE GOVERNING BODY OF NEW HANOVER COUNTY WATER AND SEWER DISTRICT The District Board of Commissioners of the County of New Hanover (the "County") held a meeting at the Historic New Hanover County Courthouse, 24 North Third Street, Room 301, Wilmington, North Carolina on May 5, 2003 at 6:00 p.m.. The following Commissioners were: Present: Robert G. Greer, Chairman Nancy H. Pritchett, Vice-Chairman Julia Boseman, Commissioner William A. Caster, Commissioner Ted Davis, Jr., Commissioner Also present were: Allen O'Neal, County Manager Wanda M. Copley, County Attorney Lucie F. Harrell, Clerk to the Board * * * * * * * Commissioner Julia Boseman moved, Commissioner William A. Caster seconded the motion and was approved by the following vote to proceed with the introduction of the following bond order: AYES: Robert G. Greer, Chairman Nancy H. Pritchett, Vice-Chairman Julia Boseman, Commissioner William A. Caster, Commissioner Ted Davis, Jr., Commissioner NAYS: None. Chairman Robert G. Greer introduced the following bond order which was read at length: "BOND ORDER AUTHORIZING THE ISSUANCE OF $7,000,000 GENERAL OBLIGATION REFUNDING BONDS OF NEW HANOVER COUNTY WATER AND SEWER DISTRICT WHEREAS, New Hanover County Water and Sewer District (the "District") has issued General Obligation Refunding Bonds, Series 1994, dated January I, 1994 and $5,795,000 of such Bonds maturing in the years 2004 to 2012, inclusive, are outstanding (the "Outstanding Refunding 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 refund the Outstanding Refunding 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 New Hanover County Water and Sewer 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 refund the Outstanding Refunding Bonds. Section 2. In order to raise the money required to refund the Outstanding Refunding 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 $7,000,000. 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. Vice-Chairman Nancy H. Pritchett moved the adoption of the following resolution: WHEREAS, the bond order entitled, "BOND ORDER AUTHORIZING THE ISSUANCE OF $7,000,000 GENERAL OBLIGATION REFUNDING BONDS OF 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 District, held on May 5, 2003 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 ofthe County of New Hanover, sitting as the governing body of 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 May, 2003, at 9:00 o'clock AM. in Room 301 in the New Hanover County Courthouse, 24 North Third Street, 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 assessed value of property subject to taxation by the District and the net debt of the District. The motion was seconded by Commissioner William A Caster and was adopted by the following vote: AYES: Robert G. Greer, Chairman Nancy H. Pritchett, Vice-Chairman Julia Boseman, Commissioner William A. Caster, Commissioner Ted Davis, Jr., Commissioner NAYS: None. * * * * * 3 ~... STATE OF NORTH CAROLINA) : ss.: NEW HANOVER COUNTY WATER AND SEWER DISTRICT ) I, LUCIE F. HARRELL, Clerk of the Board of Commissioners of the County of New Hanover and Clerk of the New Hanover County Water and Sewer District, North Carolina (the "District") DO HEREBY CERTIFY, as follows: 1. A regular 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, was duly held on May 5, 2003, 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 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, thisf'A day of May, 2003. . ""....,,,,, (S~~E.R COlJftI~"" ~~o ........ J-', ,flit ... .... '" ~ ':- SOil.O . o.,,~ ~..... '\\-: :w: .f.:: :~: ,~: t;: - . . -- - . .Q:- ':.. !/( .. I.... = .,. ... .~f. __ ~ ~ 0.0 .~~~~~.. ~~ i ~ :A,.' .0. ":"' .00 v.. ~ -~.f ........ t,~ " """" 4NO IE.~ "......" ""It..",'" Cler of the Board of Commissioners of the ounty of New Hanover and Clerk of New Hanover County Water and Sewer District, North Carolina ',.0--,",'" EXTRACTS FROM MINUTES OF BOARD OF COMMISSIONERS OF THE COUNTY OF NEW HANOVER. SITTING AS THE GOVERNING BODY OF NEW HANOVER COUNTY WATER AND SEWER DISTRICT The District Board of Commissioners ofthe County of New Hanover (the "County") held a meeting at the Historic New Hanover County Courthouse, 24 North Third Street, Room 301, Wilmington, North Carolina on May 5, 2003 at 5:45 p.m.. The following Commissioners were: Present: Robert G. Greer, Chairman Nancy H. Pritchett, Vice-Chairman Julia Boseman, Commissioner William A. Caster, Commissioner Ted Davis, Jr., Commissioner Also present were: Allen O'Neal, County Manager Wanda M. Copley, County Attorney Lucie F. Harrell, Clerk to the Board * * * * * * * The Clerk of the County Board of Commissioners and of New Hanover County Water and Sewer District reported to the Board of Commissioners, sitting as the governing body ofthe District, that the bond order entitled, "BOND ORDER AUTHORIZING THE ISSUANCE OF $10,500,000 GENERAL OBLIGATION REFUNDING BONDS OF NEW HANOVER COUNTYW ATERAND SEWER DISTRICT," which had been introduced on April 21, 2003, had been published on April 24,2003, with notice that the Board would hold a public hearing thereon on May 5, 2003, at 5:45 o'clock, P.M. The Clerk ofthe County Board of Commissioners and of New Hanover County Water and Sewer District 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 ofthe District to be .235% ofthe assessed valuation of property in the District subject to taxation. Commissioner Julia Boseman moved that the County Board of Com missioners, sitting as the governing body of the District, proceed to hold a public hearing on the refunding bond order. The motion was seconded by Commissioner William A. Caster and was unanimously adopted. At 5 :45 o'clock, P.M., the Chairman ofthe governing body ofthe 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 goveming body of the District, 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, Commissioner Davis moved that the public hearing be closed. The motion was seconded by Vice-Chairman Nancy H. Pritchett and was unanimously adopted. Vice-Chairman Nancy H. Pritchett moved that the County Board of Commissioners, sitting as the governing body ofthe District, adopt, without change or amendment, and direct the Clerk of the Board of Commissioners and ofthe District to publish as prescribed by The Local Government Bond Act the bond order entitled, "BOND ORDER AUTHORIZING THE ISSUANCE OF $10,500,000 GENERAL OBLIGA nON REFUNDING BONDS OF NEW HANOVER COUNTY WATER AND SEWER DISTRICT," introduced at the meeting of the County Board of Commissioners, sitting as the governing body of the District, held on April 21, 2003. The motion was seconded by Commissioner Julia Boseman and was adopted by the following vote: AYES: Robert G. Greer, Chairman Nancy H. Pritchett, Vice-Chairman Julia Boseman, Commissioner William A. Caster, Commissioner Ted Davis, Jr., Commissioner NAYS: None. ***** ST A TEMENT OF DEBT OF 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 $7,000,000 BONDS, INTRODUCED AT A MEETING OF THE GOVERNING BODY OF SAID DISTRICT, HELD ON THE 5th DAY OF MAY, 2003. (a) Assessed value of property subject to taxation as certified by the County Assessor. $8.312,591.407 (b) Gross debt as listed in the attached "Schedule of Gross Debt." $ 37,050,000 (c) Deductions to be made from Gross Debt as listed in the attached "Schedule of Deductions." $ 17,500,000 (d) Net debt (being the difference between the Gross Debt and Deductions). $ 19.550,000 (e) Percentage that net debt bears to the appraised value of property subject to taxation. $ .235% -'_..~ .........-....."'............ .'\ " Finance Officer of the New Hanover County Water and Sewer District ~/o) 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 Refunding Bonds $7,000,000 Total $7,000,000 B. Unissued bonds authorized by adopted orders: Purpose Amount Refunding Bonds $10,500,000 Total $10,500,000 C. Outstanding debt not evidenced by bonds: Source of Debt Purpose Amount $ Total $ D. Outstanding debt evidenced by bonds: Date of Bonds Purpose Amount Attachment LGC-109A $19,550,000 Total $19,550,000 Total $37,050,000 .Date 01/29/03 ,Time 13:32:23 Date of Issue 06/01/2001 06/01/2002 06/01/2002 12/01/19 9 0 08/01/1992 11/01/1993 03/01/1993 03/01/1993 01/01/1994 01/01/1994 01/01/1994 01/01/1994 09/01/1995 09/01/1995 11/01/1996 11/01/1996 08/01/1998 08/01/1998 08/01/1998 02/01/2000 02/01/2000 Attachment LGC-109A NEW HANOVER COUNTY, NC ISSUE LON G - T E R M DEB T B Y Bonded Debt for Groups 00 - 99 as of 06/3~/2002 Based on Date Paid Accounts 0000000000000000 - 9999999999999999 Description $42M School Bonds, 2001 $14M 2002 GO School Bonds $14.3M 20U2 CFCC GO Bonds SOLID WASTE DISPOSAL-SERIES A SOuID WASTE DISPOSAL 1993 SPECIAL OBLIGATION BONDS G/O REFUNDING SEWER BONDS G/O SCHOOL REFUNDING BONDS 1994 REFUNDING PUBLIC IMP-12S 1994 REFUNDING PUBLIC IMP-110 1994 REFUNDING SOLID WASTE 1994 REFUNDING WATER << SEWER SCHOOL BONDS,SERIES 1995-FIXED SCHOOL BONDS,SERIES 1995-VAR 1996 PUBLIC IMPROVEMENT BONDS 1996 PUBLIC IMPROVEMENT BONDS $9M CFCC GO Bonds, Series 199B $10M CFCC GO Bonds,Series 199B $14M School Bonds, Series 1998 $55M School GO Bonds, 2000 $14M CFee ~~ Bonds, 2000 ~e.w Httt'\ovev Cou.nn.\ ~e.1/J t-t0-f1.0 \L.Q..r Cou n-tL( W L } /e" J-t y \ :i)\~+r- iC,:{- tt..T .e.. V ()l'1.a ~ v~ .' $42M School Bonds, 2001 $14M 2002 GO School Bond~ $14.3M 2002 CFCC GO Bon~s SERIES 1990A - TAXABLE SOLID WASTE, SERIES 1992 1993 SPECIAL OBLIGATION BONDS W/S DISTRICT REFUNDING, 1993 G/O SCHOOL REFUNDING, 1993 1994 PUBLIC IMPRQVEMENT-125 1994 PUBLIC IMPROVEMENT-110 1994 SOLID WASTE DISPOSAL BOND 1994 WATER/SEWER DISTRICT SCHOOL BONDS,SERIES 1995-FIXED SCHOOL BONDS,SERIES 1995-VAR 1996 GO BONDS - NEC SCHOOLS $4.9M CFCC GO Bonds, 1996 $9M CFCC GO Bonds, Series 1998 $lOM CFCC GO Bonds,Series 1998 $14M School Bonos, Series 1998 $55M School GO Bonds, 200.0 $14M CFCC GO Bonds, 2000 Total ~ ;);),0) 6Scs;, COO ~ lq 55bDDO L I Page 1 Principal Balance 42,000,000.00 14,000,000.00 14,300,000.00 990,000.00 0.00 550,000.00 13,010,000.00 350,000.00 1,732,800.00 3,682,200.00 13,950,000.00 6,540,000,00 17,550,000.00 9,000,000.00 7,391,553.75 '3,65B, 446 .25 7,650,000.00 8,500,000.00 11,900,000.00 50,735,479.00 12,914,521.00 240,405,000.00 SCHEDULE OF DEDUCTIONS (A) Funding and refunding bonds authorized by orders introduced but not yet adopted. (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 incurred 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 payment 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 otherwise deducted) was or is to be incurred, to the extent that the special assessments, when collected, will be applied to the payment of any part of gross debt. $7,000,000 $10,500,000 $ $ $ $ $ Total $17,500,000 STA TE OF NORTH CAROLINA ) : ss.: NEW HANOVER COUNTY WATER AND SEWER DISTRICT ) Bruce T. Shell, being duly sworn, says that he is the Finance Officer of New Hanover County Water and Sewer District, in the State of North Carolina; that by a resolution passed by the Goveruing 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. ~- ~ Finance Officer Sworn to and subscribed before \\\\\1\.11.""""" """ ~eigh G. Ct, """ me on the day of the date of "",,'\)'6.080... 0",- " / ~,"... -.0 ~"'-:,. said statement. ~ ~ .or "'0 ':. , ~: I NOTARY ~ ~ ~I n _ \~ () n: ! ~itv~on;~1. ': ~ bRJ,JtL.{ b. l- _. \:,,~He;) 0 - Notary blic ~ ':..0 3/24/2006C / ff ~ -:;. .. punLl .0. (j : "" 11.6 f~ 't 00_. ~.:. ~ .....:-... My Commission expires the day of -+J \!J.L.V'VV.h" If, Ha';fc~':;;'S:/:::," ,,\,\ "III, ov \\\'\'\.'\ "'1111111 \'\ STATE OF NORTH CAROLINA ) : ss.: NEW HANOVER COUNTY WATER AND SEWER DISTRICT ) I, the undersigned Clerk of the Board of Commissioners of the County of New Hanover and of 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 May, 2003 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 May, 2003. "",....."", to"~"~ D'it.R C'O(f, "'" (~f.~.........0....~~-!- '\ ... ."l.,!. . ..1;~ ::tJ: "t\: :-=: '4.: .. 0 0:...._ !....\ ":~= ..'" . v" . It'- ~ ~~... ....a.;'\ (a!:-;J ..- '" : ~ ..Oo.-::.....~....o..O *' ~ ~ 4. ....... fa CO ...... ""1)1 liO tlIE'IME: "" oil, " ",.....",,' C rk, Board of Commissioners of the County of New Hanover and Clerk, New Hanover County Water and Sewer District AFFIDA VIT OF PUBLICA TION STATE OF NORTH CAROLINA COUNTY OF NEW HANOVER pi NOTICE OF PUBLIC HEARING. "BOND ORDER AUTHORIZING THE ISSUANCE OF $35,000,000 GENERAL OBLIGATION REFUNDING BONDS OF THE COUNTY OF NEW HANOVER" WHEREAS, the County of New Hanover (the "County") has issued Solid Waste Disposal Re- funding Bonds, Series 1994, dated January 1, 1994 and $11,985,000 of such Bonds maturing in the years 2003 to 2012, inClusive, are outstanding (the "Outstanding Re- funding Bonds"); and WHEREAS, the County has issued Public Im- provement Refunding Bonds, Series 1994, dated January 1, 1994 and $5,415,000 of such Bonds maturing in t~e years 2003 to 2009; in- clusive, are outstanding (the "Outstanding Public Improvement Refunding Bonds"); and WHEREAS, the County has issued School Bonds, Series' 1995, dated Sep- tember 1, 1995 and $16,750,000 of such Bonds maturing in the years 2004 to 2012, in- clusive, are outstanding (the' "Outstanding School Bonds"); and WHEREAS, the Board of Commissioners of . the . County deems it advis- able to pay and refund all or a portion' of the i Outstanding' Refunding' Bonds, the Outstanding Public Improvement Re- funding Bonds and the Outstanding School Bonds, pursuant to and in accordance with The Lo- cal Government Finance .1\,\; 9.nq ... WHEREAS, an application has been filed with the Secretary of the Local Government Commission of North Carqlina request- ing Commission approval of the Bonds hereinafter described as required by The Local Government Fi- nance Act, and the Secre- tary of the Local Govern- ment Commission has no- tified the Board that the application has been ac- cepted for submission to the Local Government Commission; NOW, THEREFORE, BE IT ORDERED by the Board' of Commissioners . of the County of New Hanover, as follows: Section 1. The Board of Commissioners of the County has . ascertained 'and '. hereby determines that it is adliisable topay and refund all or a por- tion of the Outstanding .Refunding Bonds, the If Outstanding PubliC Improvem,ent Refunding: Bonds and, the Out- standing School Bonds. Section 1. In order to raise the money required to pay and refund ~he Outstanding Refunolng Bonds, the Outstanding Publ ic Improvement Re- funding Bonds and the Outstanding . School Bonds as set forth above, in addition to any funds which may be made available for such pur- pose from any other I source, bonds of the Co'llnty are hereby auc thorized and shall be is- sued pursuant to The Loc cal Government Finance Act of North Carolina. TI Before the undersigned, a Notary Public of Said County and State, DIANE P. KEENAN Who, being duly sworn or affirmed, 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 BOND ORDER AUTHORIZING THE ISSUANCE OF $35,000,000 GENERAL OBLIGATION REFUNDING BONDS OF THE COUNTY OF NEW HANOVER WHEREAS, the County of New Hanover (the County) has issued Solid Waste Disposal Refunding Bonds, Series 1994, dated was inserted in the aforesaid newspaper in space, and on dates as follows: 4/24 Ix And at the time of such publication Wilmington Star-News was a newspaper meeting all the ,eq"i,ements and q"lifioatio", p,e"ribed by Sec. N~ 1.'597 G.S. nfN.C. J0j~ {J /(~. Title: CLAS~ED ADVER. MGR ~ffumed tn, ~ctib..~ before me this , ~ day of _ , A.D , 111 In Testimony Whereof, I have hereunto set hand and affixed my official seal, the day and year aforesaid. otary Public My commission expires IV day of WiD. ,20{]f;, ) aforegoing affidavit with the advertisement thereto annexed it is adjudged by the Court that the said roperly made, and that the summons has been duly and legally served on the defendant(s). Clerk of Superior Court