2004-03-29 SpM Exhibits28.25.9
A RESOLUTION
OF THE
NEW HANOVER COUNTY BOARD OF COMMISSIONERS
"CONFIRMING THE MATURITIES OF AND RATES OF INTEREST
TO BE BORNE BY THE
$47,425,000 GENERAL OBLIGATION REFUNDING BONDS OF
THE COUNTY OF NEW HANOVER
WHEREAS, the Local Government Commission of North Carolina has infonned the
Board of Commissioners of the sale of the County of New Hanover $47,425,000 General
Obligation Refunding Bonds, Series 2004, dated March I, 2004 (the "Bonds") and that the
contract of sale contemplates that the Bonds shall be payable and bear interest as hereinafter
provided; and
WHEREAS, the Board of Commissioners of the County of New Hanover (the "Issuer")
desires to take such actions as are necessary to approve the tenns of such sale and to authorize
and/or confinn such other actions contemplated by such sale: NOW THEREFORE,
BE IT RESOL VB]) by the Board of Commissioners of the Issuer, as fòllows:
1. . The Board of Commissioners approves the sale of the Bonds to Goldman Sachs &
Co. and Associates on the tenns accepted by the Local Government Commission.
2. The Bonds shall mature on November 1 in the years and principal amounts and
bear interest from their date payable on November 1, 2004 and semi-annually thereafter on May
1 and November 1 "at the rates per annum, as follows:
Year
2004
2005
2006
2007
2008
2009 .
2010.
2011
Principal Amount
$1,075,000
100,000
100,000
835,000
835,000
840,000
840~000
3,845,000
Interest Rate
5.00%
3.00
3.00
5.00
5.00
5.00
5.00
5.00
2012
2013
2014
2015
2016
2017
2018
2019
3,825,000
3,805,000
3,780,000
3,755,000
5,360,000
5,675,000
7,570,000
5,185,000
5.00
5.00
5.00
5.00
5.00
5.00
4.00
4.00
The aggregate issue size and individual bond maturity provisions set forth in the bond resolution
adopted by the Board on February 25, 2004 are revised and amended accordingly.
3. The Chainnan and the Clerk of the' Board of Commissioners, the County
Manager, the Finance Director and other officers of the Issuer are hereby authorized and directed
to take all other actions necessary in connection with the sale and issuance of the Bonds and the
" effectuation of the purposes for which the Bonds are being issued.
4. The. resolution respecting the aggregate issue size and individual bond maturities
adopted on March 8~ 2004 is hereby repealed and resCinded.
5. This resolution shall become effective upon its adoption.
This the 29th day of March, 2004.
[SEAL]
~~~
Robert G. Greer, Chainnan
Board of Commissioners
ATTEST:
(;{)··v ~
~= the Board "