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1984-10-29 SpM Exhibits j ,\,t l ..I ~ ' EXTRACTS FROM MINUTES OF BOARD OF COMMISSIONERS The Board of Commissioners of the County of New Hanover, North Carolina, met in special session in the Assembly Room of the New Hanover County Administration Building in Wilmington, North Carolina, the regular place of meeting at 9:00 o'clock, ~.M., on October 29, 1984. The following Commissioners were: Present: Chairman Karen E. Gottovi, Jonathan Barfield, Donald Blake and Claud O'Shields Absent: Nolan O'Neal * * * * * * * * * * The Chairman stated that The New Hanover County Industrial Facilities and Pollution Control Financing Authority had adopted a resolution expressing its intention to issue revenue bonds and authorizing the execution and delivery of an inducement agreement pertaining to the financing of an industrial project for American Hoist & Derrick Company. The Chairman submitted copies of the . resolution and the inducement agreement to the Board. The Chairman then stated that a notice had been published on October~, 1984 that the Board would hold a public hearing on October 29, 1984 on the proposed project and the issuance of revenue bonds to finance the project. Commissioner O'Shields moved that the Board proceed to hold a public hearing on the project and the issuance of revenue bonds to finance the project. The motion was seconded by Commissioner Blake and was unanimously adopted. At 9:20 o'clock, A.M., the Chairman announced that the Board would hear anyone who wished to be heard on the advisability of the proposed project and the issuance of revenue bonds to finance the project and that a represen- tative of the Authority was present and was prepared to discuss the details concerning the proposed project and bond issue. The names and addresses of the persons who were present, summaries of their oral comments and copies of their written comments are set forth below: -2- Wallace Murchison of Wilmington, attorney for the Authority, thanked the Commissioners for hOlding the special meeting to consider industrial bond issues and announced that first to be considered was an industrial bond issue for American Hoist and Derrick Company for up to $lO,OOO,OOO for the acquisition of the former Babcock and Wilcox property and for equipment and machinery. He introduced the plant manager, Mr. Roger A. Ohman, Jr., of Wilmington. Mr. Ohman expressed the pleasure of everyone at American Hoist about plans for expansion in the Wilmington area. He said that the four major items for the bond proceeds were purchase of facilities, expanding existing buildings, constructing new buildings and purchasing capital equipment. He described the facilities at the B & W site and showed drawings of the additions and expansions. He said that buildings, structures and equipment were just the beginning for the company and that one of the prime reasons the company elected to corne to Wilmington were the people, the driving force behind the company's success. In response to a question from Commissioner Barfield, he stated that there was no caustic tank included in the plans. Mr. Ohman mentioned six major points influenced his company to decide on Wilmington, as follows: the port facilities, the available plant, the productive work force, the warm community reception and support, the good place to live, and the good business climate. The Commissioners expressed their pleasure in having American Hoist as an addition to the business community. -3- After the Board had heard all persons who re- quested to be heard, Commi ssioner Barfield moved that the public hearing be closed. The motion was seconded by Commissioner O'Shields and was unanimously adopted. Commissioner o 'Shields then introduced the following resolution which was read at length: WHEREAS, the Board of County Commissioners has created a political subdivision and body corporate and politic of the State of North Carolina kn6wn as "The New Hanover County Industrial Facilities and Pollution Control Financing Authority" (the "Authority"); and WHEREAS, the Authority is authorized under the Industrial and Pollution Control Facilities Financing Act, Chapter l59C of the General Statutes of North Carolina, as amended (the "Act"), to issue revenue bonds for the purpose, among others, of paying all or any part of the cost of any industrial project for industry, to acquire, construct and equip any such project, and to make and execute financing agreements, security documents and other contracts and instruments necessary or convenient in the exercise of such powers; and WHEREAS, the Authority has determined to issue its revenue bonds in the principal amount of not more than $10,000,000 to pay a portion of the costs of the acqui- -4- '- sition, construction and installation of an industrial facility for the manufacture of cranes, including an ap- proximately 240-acre site and an approximately 400,000 square foot existing building on Vance Street in Wilmington, the construction of improvements and the acquisition and installation of machinery and equipment (the "Project") to be operated by American Hoist & Derrick Company; and WHEREAS, the Authority intends to file an applica- tion for approval of the Project with the Secretary of the Department of Commerce (the "Department"), as required by the Act; and WHEREAS, the Department has, by regulation, provided that no application for approval of a project will be officially received until the elected board of county commissioners of the county from which the application is made has, by resolution after a public hearing, approved the issue of revenue bonds and approved in principle the pro- posed project and a certified copy of such resolution has been provided to the Department; and WHEREAS, the Board of County Commissioners, pursuant to public notice duly given, has held a public hearing on the advisability of the Project and the issuance of revenue bonds to finance the Project and has considered the comments of persons who requested to be heard; and -5- - WHEREAS, the Board of County Commissioners desires to approve the Project in principle and the issuance of revenue bonds to finance the Project; NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of the County of New Hanover as fol- lows: (1) The Project is hereby approved in principle. (2) The issuance of revenue bonds by the Author- ity to finance the Project is hereby ap- proved. (3) The Clerk of the Board of Commissioners is hereby authorized and directed to provide a certified copy of this resolution to the Department of Commerce. (4) This resolution shall take effect immediately upon its passage. Commi ssioner 0' Shields moved the passage of the foregoing resolution and Commissioner Barfield seconded the motion, and the resolution was passed by the following vote: AYES: Commissioners Gottovi, Barfield, Blake and O'Shields . NAYS: None -6 - STATE OF NORTH CAROLINA ,) : ss. : COUNTY OF NEW HANOVER ) I, LUCIE F. SMITH, Clerk of the Board of Commis- sionersof the County hereinafter described, DO HEREBY CERTIFY, as follows: 1. A special meeting of the Board of Commission- ers of the County of New Hanover, a county in the State of North Carolina, was duly held on October 29, 1984, proper notice of said 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 accor- dance 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 County, thi s '1/f;l. day of Novembe:j::', 1984. ~Q ~ o o o o ~ o Co o g. : t[J. ;: o 0 ~ ~ 00 Ii: "bo ~ ~. '. _ _ 000 ~ ~ i$la OOOOOQOOO ~,,- ~ ~ ~\~...'" O'Qbo" (f!>.'ttfJ .......... "e" \\\\\\ ~DDDODOOO~\\''I> . ~~~~ Cle k, Board of Commissioners , \~, ~ ~ ( ~ EXTRACTS FROM MINUTES OF BOARD OF COMMISSIONERS The Board of Commissioners of the County of New Hanover, North Carolina, met in special session in the Assembly Room of the New'Hanover County Administration Building in Wilmington, North Carolina, the regular place of meeting at 9:00 o'clock, ~.M., on October 29, 1984. The following Commissioners were: Present: Chairman Karen E. Gottovi, Jonathan Barfield, Donald Blake and Claud O'Shields Absent: Nolan O'Neal * * * * * * * * * * The Chairman stated that The New Hanover County Industrial Facilities and Pollution Control Financing Authority had adopted a resolution expressing its intention to issue revenue bonds and authorizing the execution and delivery of an inducement agreement pertaining to the financing of an industrial project for National Service Industries, Inc. and that the Board, after a public hearing, had approved the project in principle and the issuance of revenue bonds to finance the project. The Chairman further stated that the Department of Commerce had advised the Authority that National Service Industries, Inc. does not pay an average weekly manufacturing wage above the average wage in New Hanover County and that the Project could not be approved by the Department unless the Board requested the Department to waive the wage requirement. Commissioner Barfield then introduced the following resolution which was read at length: WHEREAS, the Board of County Commissioners has created a political subdivision and body corporate and politic of the State of North Carolina known as "The New Hanover County Industrial Facilities and Pollution Control Financing Authority" (the "Authority"); and WHEREAS, the Authority is authorized under the Industrial and Pollution Control Facilities Financing Act, Chapter l59C of the General Statutes of North Carolina, as amended (the "Act"), to issue revenue bonds for the purpose, among others, of paying all or any part of the cost of any industrial project for industry, to acquire, construct and equip any such project, and to make and execute financing agreements, security documents and other contracts and instruments necessary or convenient in the exercise of such powers; and -2- WHEREAS, the Authority has determined to issue its revenue bonds in the principal amount of not more than $750,000,000 to pay a portion of the costs of the acqui- sition, construction and installation of an expansion of the existing industrial facility of National Service Industries, Inc. at 525 North College Road, near Wilmington, for the distribution of shirts and shirt products, consisting of an approximately 40,000 square foot building addition and related improvements (the "Project"); the Project to be operated by National Service Industries, Inc.; and WHEREAS, the Authority intends to file an applica- tion for approval of the Project with the Secretary of the Department of Commerce (the "Department"), as required by the Act; and WHEREAS, New Hanover County is experiencing "especially severe unemployment" as defined in NCAC Sub- Chapter IE, Section.0303(d), and the Board desires that the Secretary of the Department approve the Project, notwith- standing the fact that National Service Industries, Inc. does not pay an average weekly manufacturing wage above the average weekly manufacturing wage paid in New Hanover County; -3- NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of the County of New Hanover as fol- lows: (1) The Board hereby requests and recommends that the Project be approved by the Secretary of the Department, notwithstanding the fact that National Service Industries, Inc. does not pay an average weekly manufacturing wage above the average weekly manufacturing wage paid in New Hanover County. (2) The Clerk of the Board of Commissioners is hereby authorized and directed to provide a certified copy of this resolution to the Department of Commerce. (3) This resolution shall take effect immediately upon its passage. Commissioner Barfield moved the passage of the foregoing resolution and Commissioner B]ake seconded the motion, and the resolution was passed by the following vote: AYES: Commissioners Gottovi, Barfield, Blake and 0' Shields NAYS: None- -4- STATE OF NORTH CAROLINA ) : ss. : ,COUNTY OF NEW HANOVER ) I, LUCIE F. SMITH, Clerk of the Board of Commis- sioners of the County hereinafter described, .DO HEREBY CERTIFY, as follows: 1. A special meeting of the Board of Commission- ers of the County of New Hanover, a county in the State of North Carolina, was duly held on October 29, 1984, proper notice of said 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 accor- dance 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 County, ~,t't"^' thi~~I~u day of October, 1984. v.i\ fllll 1>"'~'I>'I>'I> ~~OVER CO'lIlIlIl,., /t",lIi A\ '1(\ 00000000 V ,p,p, d <iOi!i' 00 00 '4-.... If> }JI 0,,00 0000 ~ \. ~! 00 ~ " 0 _ (} 0 - 8 ~ ;: . IJ 0 :: \rjr \ a J tJ> j \ \ ~~ $ lit 88 00 ~ ~1p; ~() 888868tJ8(j(joo ~':-l; '11,1/ 'lit/:( CAr;.Ov ............. III ,\...", "'lUffflUtt \ . ~ EXTRACTS FROM MINUTES OF BOARD OF COMMISSIONERS. The Board of Commissioners of the County of New Hanover, North Carolina, met in special session in the Assembly Room of the New Hanover County Administration Building in Wilmington, North Carolina, the regular place of meeting at 9:00 o'clock, ~;M., on October 29, 1984. The following Commissioners were: Present: Chairman Karen E. Gottovi, Jonathan Barfield, Donald Blake and Claud O'Shields Absent: Nolan O'Neal * * * * * * * * * * The Chairman stated that The New Hanover County Industrial Facilities and Pollution Control Financing Authority had adopted a resolution expressing its intention to issue revenue bonds and authorizing the execution and delivery of an inducement agreement pertaining to the financing of an industrial project for Gang-Nail Systems, Inc. The Chairman submitted copies of the resolution and the inducement agreement to the Board. The Chairman then stated that a notice had been published on October ~, 1984 that the Board would hold a public hearing on October 29, 1984 on the proposed project and the issuance of revenue bonds to finance the project. Commissioner O'Shields moved that the Board proceed to hold a public hearing on the project and the issuance of revenue bonds to finance the project. The motion was seconded by Commissioner Barfield and was unanimously adopted. At JO.OO o'clock, A.M., the Chairman announced that the Board would hear anyone who wished to be heard on the advisability of the proposed project and the issuance of revenue bonds to finance the project and that a represen- tative of the Authority was present and was prepared to discuss the details concerning the proposed project and bond issue. The names and addresses of the persons who were present, summaries of their oral comments and copies of their written comments are set forth below: -2- Wallace C. Murchison, Wilmington, N. C., attorney for the Authority, said that the bond issue was for indus- trial purposes for Gang-Nail Systems, Inc. for up to $10,000,000, that the project involved the installation of machinery and equipment for the manufacture of laminated veneer lumber and construction of building improvements at the former Condec facility on Highway 421 North, adjacent to the Grace plant, that the company was leasing the building and that almost all of the money would be spent for machi- nery and equipment. He stated that the company would be manufacturing laminated lumber which looks like a 2 x 4 but is 80 feet long and has many uses. He said that the wage waiver was a requirement for the bond issue's approval, that the company was operating the facility almost entirely with production workers, that the sales force was located else- where and the supervisory management team was in Miami, that the average wage intended to be paid would not be up to the county or state averages, and that because New Hanover County has unemployment problems it was possible for the waiver to be issued for the financing. In response to a question from Commissioner O'Shields, Mr. Murchison said that the company would employ conservatively 150 persons. -3- After the Board had heard all persons who re- quested to be heard, Commissioner Barfield moved that the public hearing be closed. The motion was seconded by Commissioner O'Shields and was unanimously adopted. Commissioner O'Shields then introduced the following resolution which was read at length: WHEREAS, the Board of County Commissioners has created a political subdivision and body corporate and politic of the State of North Carolina known as uThe New Hanover County Industrial Facilities and Pollution Control Financing Authority" (the "Authority"); and WHEREAS, the Authority is authorized under the Industrial and Pollution Control Facilities Financing Act, Chapter l59C of the General Statutes of North Carolina, as amended (the "Act"), to issue revenue bonds for the purpose, among others, of paying all or any part of the cost of any industrial project for industry, to acquire, construct and equip any such project, and to make and execute financing agreements, security documents and other contracts and instruments necessary or convenient in the exercise of such powers; and WHEREAS, the Authority has determined to issue its revenue bonds in the principal amount of not more than $IO,OOO,OOO to pay'a portion of the costs of the acqui- -4-= /' sition and installation of machinery and equipment for the manufacture of laminated veneer lumber and construction of building improvements at an existing industrial facility on u.s. Highway 421 North adjacent to the W.R. Grace & Co. Plant (the "Project"); the Project site and building will be leased and the Project will be operated by Gang-Nail Sys- tems, Inc.; and WHEREAS, the Authority intends to file an applica- tion for approval of the Project with the Secretary of the Department of Commerce (the "Department"), as required by the Act; and WHEREAS, the Department has, by regulation, provided that no application for approval of a project will be officially received until the elected board of county commissioners of the county from which the application is made has, by resolution after a public hearing, approved the issue of revenue bonds and approved in principle the pro- posed project and a certified copy of such resolution has been provided to the Department; and WHEREAS, the Board of County Commissioners, pursuant to public notice duly given, has held a pUblic hearing on the advisability of the Project and the issuance of revenue bonds to finance the Project and has considered the comments of persons who requested to be heard; and ,-= 5,""",.. WHEREAS, New Hanover County is experiencing, "especially severe unemployment" as defined in NCAC Sub- Chapter IE, Section.0303(d), and the Board desires that the Secretary of the Department approve said project, notwith- standing the fact that Gang-Nail Systems, Inc. will not pay an average weekly manufacturing wage above the average weekly manufacturing wage paid in New Hanover County; and WHEREAS, the Board of County Commissioners desires to approve the Project in principle and the issuance of revenue bonds to finance the Project; NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of the County of New Hanover as fol~ lows: (1) The Project is hereby approved in principle. (2) The issuance of revenue bonds by the Author- ity to finance the Project is hereby ap- proved. (3) The Board hereby requests and recommends that the Project be approved by the Secretary of the Department, notwithstanding the fact that the Company will not pay an average weekly manufacturing wage above the average weekly manufacturing wage paid in New Hanover County. -6~ (4) The Clerk of the Board of Commissioners is hereby authorized and directed to provide a certified copy of this resolution to the Department of Commerce. (5) This resolution shall take effect immediately upon its passage. Commissioner n'~h;plnq moved the passage of the foregoing resolution and Commissioner Barfield seconded the motion, and the resolution was passed by the following vote: AYES: Commissioners Gottovi, Barfield, Blak'" anrJ O'C:hi"'ldc NAYS: None -;.7 7~" STATE OF NORTH CAROLINA ) :ss. : COUNTY OF NEW HANOVER I, LUCIE F. SMITH, Clerk of the Board of Commis- sioners of the County hereinafter described, DO HEREBY CERTIFY, as follows: 1. A special meeting of the Board of Commission- ers of the County of New Hanover, a county in the State of North Carolina, was duly held on October 29, 1984, proper notice of said 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 accor- dance 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 County, No~em~er~ 1984. Board 0