2005-04-18 RM Exhibits
j\Ji :l q lot ( a..
NEW HANOVER COUNTY TAX COLLECTIONS
COLLECTIONS THRU 02/28/05
CURRENT TAX YEAR 2004
ORIGINAL TAX LEVY PER SCROLL
DISCOVERIES ADDED
LESS ABATEMENTS
TOTAL TAXES CHARGED
AD VALOREM
$ 108,009,979.30
4,165,889.22
263.070.56
$ 111,912,797.96
ADVERTISING FEES CHARGED
LISTING PENALTIES CHARGED
CLEANING LIENS CHARGED
TOTAL LEVY
COLLECTIONS TO DATE
OUTSTANDING BALANCE
PERCENTAGE COLLECTED
.00
122,260.42
11.839.38
$ 112,046,897 76
108.380.080.21
$ 3,666.81755
96.73%*
BACK TAXES
REAL ESTATE AND PERSONAL PROPERTY
CHARGES ADDED
LESS ABATEMENTS
TOTAL TAXES DUE
COLLECTIONS TO DATE
OUTSTANDING BALANCE
PERCENTAGE COLLECTED
$ 4,518,902.83
85,552.46
161.930.49
$ 4,442,524.80
1.696.835.04
$ 2,745,68976
38.20%
RENTAL VEHICLE TAX COLLECTIONS
ROOM OCCUPANCY TAX COLLECTIONS
PRIVILEGE LICENSE COLLECTIONS
FEB 2005
18,738.77 $
215,75975
228.75
$
CONSENT AGENDA
DATE.
ITEM NO
MOTOR VEHICLE
$ 7,250.75553
8.695 72
91.951.48
$ 716749977
.00
$
.00
.00
716749977
5.516.297.38
1,651,202.39
76.96%*
$
FISCAL YTD
207,21172
4,384,431.38
15,862.76
TOTAL MONEY PROCESSED THRU COLLECTION OFFICE FOR NEW HANOVER COUNTY CITY OF WILMINGTON,
WRIGHTSVILLE BEACH, CAROLINA BEACH AND KURE BEACH TO DATE $ 170,436,902.74
THIS REPORT IS FOR FISCAL YEAR BEGINNING JULY I 2004
RESPECTFULLY SUBMITTED,
PATRICIAJ. RAYNOR
COLLECTOR OF REVENUE
* COMBINED COLLECTION PERCENTAGE 95.54%
NEW HANOVER COUNTY TAX COLLECTIONS
COLLECTIONS THRU 03/31105
CURRENT TAX YEAR 2004
ORIGINAL TAX LEVY PER SCROLL
DISCOVERIES ADDED
LESS ABA TEMENTS
TOTAL TAXES CHARGED
AD VALOREM
$ 108,009,979.30
4,]66,]2740
280.355.85
$ 111,895,750.85
ADVERTISING FEES CHARGED
LISTING PENALTIES CHARGED
CLEANING LIENS CHARGED
TOTAL LEVY
COLLECTIONS TO DA TE
OUTSTANDING BALANCE
PERCENTAGE COLLECTED
9,028.50
121,210.64
] 1.839.38
$ ] 12,037,829.37
] 10.06 L203.00
$ 1,976,626.37
98.24%*
BACK TAXES
REAL ESTATE AND PERSONAL PROPERTY
CHARGES ADDED
LESS ABATEMENTS
TOTAL TAXES DUE
COLLECTIONS TO DATE
OUTSTANDING BALANCE
PERCENTAGE COLLECTED
$ 4.518,902.83
85,552.46
164.929.65
$ 4,439525.64
1.800.681.10
$ 2,638,844.54
40.56%
RENTAL VEHICLE TAX COLLECTIONS
ROOM OCCUPANCY TAX COLLECTIONS
PRIVILEGE LICENSE COLLECTIONS
MAR 2005
20,574.35 $
254,38574
]61.25
$
RJt ;Lf1 ,q ( h
CONSENT AGENDA
DATE.
ITEM NO
MOTOR VEHICLE
$ 8,008.832.94
11,00041
99.348.50
$ 7,920.484.85
.00
$
.00
.00
7920,484.85
6.313.817.11
1,606,667 74
79 72%*
$
FISCAL YTD
227 786.07
4,638,817 12
16,024.01
TOTAL MONEY PROCESSED THRU COLLECTION OFF]CE FOR NEW HANOVER COUNTY CITY OF WILMINGTON,
WRIGHTSVILLE BEACH, CAROLINA BEACH AND KURE BEACH TO DATE $ 174,564,695.92.
THIS REPORT]S FOR FISCAL YEAR BEGINNING JULY 1,2004
RESPECTFULLY SUBMITTED
PATRICIA J. RAYNOR
COLLECTOR OF REVENUE
* COMBINED COLLECTION PERCENTAGE 97.01%
l<: H: :;L q
rq, (c-
CONSENT AGENDA
DATE:
ITEM NO
NEW HANOVER COUNTY FIRE DISTRICT TAX COLLECTIONS
COLLECTIONS THRU 02/28/05
CURRENT TAX YEAR 2004 AD VALOREM MOTOR VEHICLE
ORIGINAL TAX LEVY PER SCROLL $ 466,285 9' $ 292 607 76
DISCOVERIES ADDED 212 394 53 605 23
LESS ABATEMENTS 69 152 11 3 773 86
TOTAL TAXES CHARGED $ 3 609 528 36 $ 289 439 13
LISTING PENALTIES CHARGED 5 185 02 00
TOTAL LEVY $ 614 713 38 $ 289 439 13
COLLECTIONS TO DATE 491,7-42 88- 226 614 77
OUTSTANDING BALANCE $ 122 970 50 $ 62 82' 36
PERCENTAGE COLLECTED 96 60\* 78 29%*
BACK TAXES
REAL ESTATE AND PERSONAL PROPERTY $ 129 420 .6
CHARGES ADDED 6,688 9B
LESS ABATEMENTS 3 833 42
TOTAL TAXES DUE $ 132 276 02
COLLECTIONS TO DATE 58 653 B8
OUTSTANDING BALANCE $ 73 622 14
PERCENTAGE COLLECTED 44 34%
THIS REPORT IS FOR FISCAL YEAR BEGINNING JULY 1 2004
RESPECTFULLY SUBMITTED,
2u.n-i l;J.. C\ ~","",n..
PATRICIA J. ~OR V
COLLECTOR OF REVENUE
COMBINED COLLECTION PERCENTAGE
95 24\
50
:R.:l:1:.2,q Iq I d..
CONSENT AGENDA
DATE
ITEM NO
NEW HANOVER COUNTY FIRE DISTRICT TAX COLLECTIONS
COLLECTIONS THRU 03/31/05
CURRENT TAX YEAR 2004 AD VALOREM MOTOR VEHICLE
ORIGINAL TAX LEVY PER SCROLL $ 3 466 285 94 $ 322 544 58
DISCOVERIES ADDED 212 424 86 684 09
LESS ABATEMENTS 69 909 19- 4 105 04
TOTAL TAXES CHARGED $ 3 608 801 61 $ 319 123 63
LISTING PENALTIES CHARGED 5 128 45 00
TOTAL LEVY $ 3 613 930 06 $ 319 123 63
COLLECTIONS TO DATE 3 546 195 96 258 921 71
OUTSTANDING BALANCE $ 67 734 10 $ 60 201 92
PERCENTAGE COLLECTED 98 13%'" 81 14%*
BACK TAXES
REAL ESTATE AND PERSONAL PROPERTY $ 129 420 46
CHARGES ADDED 6 688 98
LESS ABATEMENTS 3 966 61
TOTAL TAXES DUE $ 132 142 83
COLLECTIONS TO DATE 62 513 45-
OUTSTANDING BALANCE $ 69 629 38
PERCENTAGE COLLECTED 47 31%
THIS REPORT IS FOR FISCAL YEAR BEGINNING JULY 1 2004
R~ECTFULLY SUBMITTED
-Y4.1I1 tll.. ~ ~r"'"
PATRICIA J. ~YNOR
COLLECTOR OF REVENUE
* COMBINED COLLECTION PERCENTAGE
96 75\
.
51
'K. .g, :L 9 I OJ 2.
RESOLUTION
OF THE
NEW HANOVER COUNTY BOARD OF COMMISSIONERS
WHEREAS, Dr. James Lanier, having served as Director of the North Carolina
Aquarium at Fort Fisher for more than two decades; and
WHEREAS, Dr Lanier has also served his community in numerous capacities including
as a member ofthe Board of Directors of the Airlie Gardens Foundation, and
WHEREAS, upon retirement from the North Carolina Aquarium, Dr Lanier graciouslv
accepted the County s request for service as the Interim Director of Airlie Gardens and
was integral in opening Airlie Gardens for the 2005 season; and
WHEREAS, Dr Lanier has successfully maintained operations at Airlie Gardens while a
permanent director was recruited.
NOW, THEREFORE, BE IT RESOLVED, that the New Hanover County Board of
Commissioners does hereby express its sincere thanks to Dr. Lanier for his stewardship
and oversight of Airlie Gardens from January 5 200~ to March 29 2005
Adopted this, the 18th day of April, 2005
/fJj/j~
Robert G. Greer, Chairman
Attest:
)\.\, \.. Sl~\,,\~
Sheila . Schult, Clerk to the Board
'!""
'l2:1:b 2.~ 19 3
NEW HANOVER COUNTY BOARD OF COMMISSIONERS
RESOLUTION
WHEREAS, the greater Wilmington and New Hanover Countv area remains one of the country's
top film making locations; and
WHEREAS, the talent and expertise in the local area s crew base is among the best in the film
industrv' and
WHEREAS, Brenda Hughes, former broadcastjoumalist, is aresident of New Hanover Countv and
is Producer Writer and Director of the Emmv Award winning documentary Thank You, Eddie Har/'
and
WHEREAS, Adam Alphin, also a resident of New Hanover County and instructor at the University
of North Carolina at Wilmington, is Director of Photography Editor and Director of the Emmy
Award winning documentary Thank YOll, Eddie Hart and
WHEREAS, Brenda Hughes and Adam Alphin exemplifY the high caliber of talent that exists in
the local film industrY'
NOW, THEREFORE, BE IT RESOLVED that the New Hanover County Board of
Commissioners does hereby express its congratulations to Brenda Hughes and Adam Alphin on theIr
Midsouth Regional Emmy A wards for the production of Thank Y 011, Eddie Harl, and recogmze the
enormous worth of the film industry and crew base in Southeastern North Carolina,
ADOPTED this the 18th day of April, 2005
Attest:
Robert G Greer Chairman
1?J:J;j~
':\\.\" ~, ~~~,,\~
Sheila L. Schult, Clerk to the Board
'_je,_f>
"'R~.:2.9 I q L\
;... """"
. f' ," .~."
,..l.....,.".",
,'"
NEW HANOVER COUNTY BOARD OF COMMISSIONERS
J:?E:SOL "UTIO;J!iT
WHEREAS, Cape Fear Resourcc Conservation & Development (RC&D) was established to assist
communities in conserving resources and to link local public projects with local, state, federal and private
dollars in order to leverage money and pro\~de leadership for local projects, thus filling a niche not met by any
other organizatIOn in New Hanover County and
WHEREAS, New Hanover County government exists to provide improved social, economic and
cn~ronmental conditIOns which enhance the quality of life for all its citizens and therefore became a member
of Cape Fear RC&D ill order to be a partner in this effort; and
WHEREAS, The Cape Fear RC&D has assisted residents of New Hanover County by adopting projects that
are often outside the scope oflocal government or the private sector, such as the North Chase Flood Abatement
project, the County Em~ronmental Management project to land-apply treated wastewater, and the Cape Fear
Soccer Association project to cap an abandoned landfill for a regional soccer complex; and
WHEREAS, there are currently 3 75 existing Resource Conservation & Development Councils whicb perform
an important role in rural development and natural resource conservation throughout the counily and
WHEREAS, current proposed FY 2006 federal funding for these 375 existing Councils wouJd essentially
eliminate half of them, causing serious detriment to the 10caJ areas affected as well as to the integrated strength
of the national program;
NOW, THEREFORE, BE IT RESOLVED that the New Hanover County Board of Commissioners
requests that in deliberations on FY 2006 appropriations, the V.S Senate and the V.S House of
Representatives Appropriations Committees retain the $54 million necessary to support and maintain tlle 375
existing Resource Conservation and Development Councils at the FY 2005 funding level.
This the 18'" day of April., 2005
~LI/J~
Robert G. Greer, Charrman
." ,. .~,
~ll "J..q 1"1 5'
RESOLUTION
OF THE
NEW HANOVER COUNTY BOARD OF COMMISSIONERS
WHEREAS, the Wilmington Metropolitan Planning Organization (MPO) was created to
conduct transportation planning in a continuous, cooperative, and comprehensive manner
in accordance with 23 D.S.C. 134 and 49 D.S.C. 1607, and
WHEREAS, the Wilmington Metropolitan Planning Organization is comprised of
representatives from the City of Wilmington, Town of Carolina Beach, Town ofKure
Beach, Town ofWrightsville Beach, Town of Belville, Town of Leland, Town of
Navassa, New Hanover County, Brunswick Countv and the North Carolina Board of
Transportation; and
WHEREAS, under Federal Requirements, the Wilmington Metropolitan Planning
Organization must update the Long Range Transportation Plan every five years; and
WHEREAS, the adopted Long Range Transportation Plan for the urban area is required
to address all modes of transportation, be fiscally constrained, provide opportunity for
public comment and shall provide consideration and strategies for the seven factors of
transportation planning; and
WHEREAS, the Wilmington MPO's 2030 Long Range Transportation Plan has a
25-year planning horizon, is fiscally constrained, provided ample opportunities including
the 30-day public comment period and four public meetings, and addresses the seven
factors identified in the Federal requirements.
NOW, THEREFORE, be it resolved that the New Hanover County Board of
Commissioners hereby endorses the 2030 Long Range Transportation Plan for the
Greater Wilmington Urban Area.
Adopted this, the 18th day of April, 2005
A !test:
/jJd;(~ ~
Robert G Greer, Chairman
~~\r. l.~<'~h\~
Sheila L. Schult, Clerk to the Board
K~ ')...8 19 &,
RESOLUTION MAKING CERTAIN FINDINGS AND
DETERMINATIONS REGARDING THE FINANCING OF THE
ACQUISITION AND RENOVATION OF MARKET PLACE MALL TO BE
USED AS ADMINISTRATIVE OFFICES OF THE COUNTY PURSUANT
TO AN INSTALLMENT FINANCING AGREEMENT; REQUESTING
THE LOCAL GOVERNMENT COMMISSION TO APPROVE THE
FINANCING ARRANGEMENT; AND AUTHORIZING THE
EXECUTION AND DELIVERY OF AN INSTALLMENT FINANCING
AGREEMENT AND A DEED OF TRUST AND RELATED DOCUMENTS
IN CONNECTION THEREWITH
BE IT RESOLVED by the Board of Commissioners (the "Board of Commissioners") for
the County of New Hanover, North Carolina (the "County") as follows:
Section 1 The Board of Commissioners does hereby find and determine as follows:
(a) There exists in the County a need to acquire and renovate property at Market Place
Mall to be used by the County for administrative offices (the "Project").
(b) In order to pay the costs of the Project and to pay certain other costs associated with
the Project, the Board of Commissioners has determined to enter into an Installment Financing
Agreement, to be dated as of the date of delivery thereof (the "Agreement"), between the County
and Bank of America, N.A. (the "Bank"), and a Deed of Trust, to be dated as of the date of
delivery thereof (the "Deed of Trust"), from the County to the deed of trust trustee named therein
for the benefit of the Bank. Pursuant to the Agreement, the Bank will advance to the Countv
amounts sufficient to pay the cost of financing the Project, and the County will repay the
advancement in installments, with interest (the 'Installment Payments '). In order to secure such
payments, the Deed of Trust will grant a lien on all or a portion of the Project, together with all
improvements and fixtures thereon.
(c) There has been presented to the Board of Commissioners at this meeting drafts of the
Agreement and the Deed of Trust.
B-1
(d) It is in the best interest of the County to enter into the Agreement in that such plan of
finance will result in providing financing for the Project in an efficient and cost effective manner
(e) Entering into the Agreement is preferable to a general obligation bond and revenue
bond issue in that (i) the County does not have sufficient constitutional authority to issue non-
voted general obligation bonds pursuant to Article V Section 4 of the North Carolina
Constitution because the County has not retired a sufficient amount of debt in the preceding
fiscal year to issue a sufficient amount of general obligation bonds for the Project without an
election, (ii) the nature of the Project is such that it is not a "revenue bond project" within the
meaning of the State and Local Government Revenue Bond Act; (iii) the cost of the Project
exceeds the amount to be prudently provided from currently available appropriations and
unappropriated fund balances; (iv) the circumstances existing require that funds be available to
commence construction of the Project as soon as practicable and the time required for holding an
eleciion for the issuance of voted general obligation bonds pursuant to Article V, Section 4 of the
North Carolina Constitution and the Local Government Bond Act will delay the commencement
of construction of the Project by several months; and (v) there can be no assurances that the
issuance of general obligation bonds to finance the Project would be approved by the voters and
the necessity of the Project dictates that the Project be financed by a method that assures that the
Project will be constructed in an expedient manner
(f) Based upon information provided to the Board of Commissioners, ihe costs of the
financing described above is reasonably comparable to the costs associated with other alternative
means of financing and is acceptable to the Board of Commissioners.
(g) The County Attorney will render an opInIOn to the effect that the proposed
undertaking as described above is authorized by law and is a purpose for which public funds may
be expended pursuant to the Constitution and laws of the State of North Carolina.
(h) The debt management policies of the County have been carried out III strict
compliance with law, and the County is not in default under any obligation for repayment of
borrowed money
(i) No tax rate increase is anticipated to be necessary to pay the Installment Payments.
Section 2. The Board of Commissioners hcreby authorizes, ratifies and approves the
filing of an application with the Local Government Commission for approval of the Agreement
and requests the Local Government Commission to approve the Agreement and the proposed
financing and in connection therewith.
Section 3 In order to provide for the financing of the Project, the County is hereby
authorized to enter into the Agreement to receive an advancement in installments pursuant
thereto in a principal an10unt not to exceed $5,100,000. The County shall repay the advancement
in installments due in the amounts and times set forth in the Agreement. The payment of
Installment Payments shall be designated as principal and interest as provided in the Agreement.
Section 4 The Board of Commissioners hereby approves the forms of the Agreement
and the Deed of Trust in substantially the forms presented at this meeting. The Chairman and
County Manager are each hereby authorized to execute and deliver on behalf of the County each
of said documents in substantially the forms presented at this meeting, containing such
insertions, deletions and filling in of blanks as the person executing such documents shall
approve, such execution to be conclusive evidence of approval by the Board of Commissioners
of any such changes. The Clerk to the Board or any Assistant or Deputy Clerk is hcreby
t<.-u':2..q l~1
AN ORDINANCE
OF THE
NEW HANOVER COUNTY
BOARD OF COMMISSIONERS
The Board of Commissioners of New Hanover County North Carolina, does hereby
ordain that Chapter 56 Utilities, Article III Sewer System Division 9 Fee Schedule and
Appendix B Division 9 Fee Schedule are amended as follows (the changes amend both
the Chapter 56 Fee Schedule, as well as the corresponding Appendix B Fee Schedule)
I. Chapter 56, Division 9 Section 56-312(a)(1), One-Time Sewer Charges.
Section 56-312. One-Time Sewer CharQes.
(a) Sewer service connection fees (tap fees). Sewer service connection fees
(tap fees) shall be charged to cover the cost of providing a tap to the
sewer lateral. Tap fees shall be in the amounts stated in section 56-315
subject to the following modifications.
(1) An owner may have his own tap installed, by utilizinq a licensed utility
contractor, provided he.
a. Requests approval at the time of making application for connection to
the public sanitary sewer
b Gives five days' notice to the district of the date the tap is to be made.
c. Constructs the tap with materials specified by the district under the
supervision of a qualified licensed contractor
d. Arranges for the presence of a district representative when the tap is
made.
e Pays the tap fee according to the fee schedule, with the
understanding that the district will refund the tap fee less an
administration/inspection fee, upon the owner's completion of the tap
in an improved manner
Except as specified referenced herein the existing provisions of the Chapter 56
Division 9 shall remain unaltered in full force and effect.
II. Appendix B, Division 9. Fee Schedule.
Section 56-315(a) Residential and nonresidential tap fees:
Residential and nonresidential (after initial six months of sewer availability):
.
Four Inch
Six Inch
$2,50000 or actual cost, whichever is qreater
$2,70000 or actual cost, whichever is qreater
An owner bv utilizinq a licensed utility contractor, may install a tap with New
Hanover County Engineering approval upon first providing any required deposit to
the County Once the installed tap is approved by the New Hanover County
Enqineerinq Department the tap fee shall be reimbursed minus the administrative
fee to the owner as specified in the fee schedule.
Except as specified referenced herein, the existing provisions of the Appendix B
Division 9 Fee Schedule shall remain unaltered, in full force and effect.
This the \ ~ \^'- day of ~, 2005
[SEAL]
NEW HANOVER COUNTY
1?JdlJL
ATTEST
Robert G Greer Chairman
Board of Commissioners
~~~.. \... ~ ~ 1-'L\ \
Clerk to the Board
PUBLIC HEARING
APPROVING LOCAL GOVERNMENT COMMISSION RESOLUTION
The Board of Commissioners for the County of New Hanover, North Carolina met in a
regular meeting in the Assemblv Room at the New Hanover County Courthouse, Room 301, 24
North Third Street, Wilmington, North Carolina, the regular place of meeting, at 9'00 a.m. on
April 18, 2005
Present: Chairman Richard G. Greer, presiding; Vice-Chairman William A. Caster,
Commissioner Ted Davis, Jr., Commissioner William A. Kopp; and Commissioner Nancy H.
Pritchett.
Absent: None
Also present: County Manager Allen O'Neal, County Attorney Wanda Copley; Clerk to
the Board Sheila 1. Schult; Assistant County Manager Dave Weaver; Assistant County Manager
Pat Melvin; and Finance Director Bruce Shell.
* * * * * *
The Chairman announced that this was the hour and day of the public hearing on a
proposed installment financing agreement to be entered into by the County of New Hanover,
North Carolina (the "County"), pursuant to Section 160A-20 of the General Statutes of North
Carolina, as amended (the "Act") in a principal amount not to exceed $5,100,000 for the purpose
of financing the acquisition and renovation of Market Place Mall to be used as administrative
offices of the County (the "Project"). Such financing would be secured by a deed of trust on all
or a portion of the Project being financed.
The Chairman acknowledged due publication of a notice of public hearing in a
newspaper with a general circulation in said County as required by the Act and directed the Clerk
to the Board of Commissioners to attach the affidavit showing publication in said paper as
Exhibit A hereto.
The Chairman then announced that the Board of Commissioners would immediately hear
anyone who might wish to be heard on the advisability of the proposed Project or financing as so
described.
A list of any persons making comments and a summary of such comments are attached as
Exhibit B hereto.
No one from the public was present to comment.
The public hearing was closed.
All statements and comments by participants of the public hearing were duly considered
by the Board of Commissioners.
Thereupon, Chairman Robert G Greer introduced the following resolution the title of
which was read and copies of which had been previously distributed to each Commissioner
RESOLUTION MAKING CERTAIN FINDINGS AND
DETERMINATIONS REGARDING THE FINANCING OF THE
ACQUISITION AND RENOVATION OF MARKET PLACE MALL TO BE
USED AS ADMINISTRATIVE OFFICES OF THE COUNTY PURSUANT
TO AN INSTALLMENT FINANCING AGREEMENT; REQUESTING
THE LOCAL GOVERNMENT COMMISSION TO APPROVE THE
FINANCING ARRANGEMENT; AND AUTHORIZING THE
EXECUTION AND DELIVERY OF AN INSTALLMENT FINANCING
AGREEMENT AND A DEED OF TRUST AND RELATED DOCUMENTS
IN CONNECTION THEREWITH
BE IT RESOLVED by the Board of Commissioners (the 'Board of Commissioners") for
the County of New Hanover, North Carolina (the "County") as follows:
Section 1 The Board of Commissioners does hereby find and determine as follows:
(a) There exists in the County a need to acquire and renovate property at Market Place
Mall to be used by the County for administrative offices (the "Project").
2
(b) In order to pay the costs of the Project and to pay certain other costs associated with
the Project, the Board of Commissioners has determined to enter into an Installment Financing
Agreement, to be dated as of the date of delivery thereof (the "Agreement"), between the County
and Bank of America, N.A. (the "Bank"), and a Deed of Trust, to be dated as of the date of
delivery thereof (the "Deed of Trust"), from the County to the deed of trust trustee named therein
for the benefit of the Bank. Pursuant to the Agreement, the Bank will advance to the County
amounts sufficient to pay the cost of financing the Project, and the County will repay the
advancement in installments, with interest (the "Installment Payments '). In order to secure such
payments, the Deed of Trust will grant a lien on all or a portion of the Project, together with all
improvements and fixtures thereon.
(c) There has been presented to the Board of Commissioners at this meeting drafts of the
Agreement and the Deed of Trust.
(d) It is in the best interest of the County to enter into the Agreement in that such plan of
finance will result in providing financing for the Project in an efficient and cost effective manner
(e) Entering into the Agreement is preferable to a general obligation bond and revenue
bond issue in that (i) the County does not have sufficient constitutional authority to issue non-
voted general obligation bonds pursuant to Article V, Section 4 of the North Carolina
Constitution because the County has not retired a sufficient amount of debt in the preceding
fiscal year to issue a sufficient amount of general obligation bonds for the Project without an
election; (ii) the nature of the Project is such that it is not a "revenue bond project" within the
meaning of the State and Local Government Revenue Bond Act; (iii) the cost of the Project
exceeds the amount to be prudently provided from currently available appropriations and
unappropriated fund balances; (iv) the circumstances existing require that funds be available to
3
commence construction of the Project as soon as practicable and the time required for holding an
election for the issuance of voted general obligation bonds pursuant to Article V, Section 4 of the
North Carolina Constitution and the Local Government Bond Act will delay the commencement
of construction of the Project by several months; and (v) there can be no assurances that the
issuance of general obligation bonds to finance the Project would be approved by the voters and
the necessity of the Project dictates that the Project be financed by a method that assures that the
Project will be constructed in an expedient manner
(f) Based upon information provided to the Board of Commissioners, the costs of the
financing described above is reasonably comparable to the costs associated with other alternative
means of financing and is acceptable to the Board of Commissioners.
(g) The County Attorney will render an opinion to the effect that the proposed
undertaking as described above is authorized by law and is a purpose for which public funds may
be expended pursuant to the Constitution and laws of the State of North Carolina.
(h) The debt management policies of the County have been carried out In strict
compliance with law, and the County is not in default under any obligation for repayment of
borrowed money
(i) No tax rate increase is anticipated to be necessary to pay the Installment Payments.
Section 2. The Board of Commissioners hereby authorizes, ratifies and approves the
filing of an application with the Local Government Commission for approval of the Agreement
and requests the Local Government Commission to approve the Agreement and the proposed
financing and in connection therewith.
Section 3 In order to provide for the financing of the Project, the County is hereby
authorized to enter into the Agreement to receive an advancement in installments pursuant
4
thereto in a principal amount not to exceed $5, I 00,000. The County shall repay the advancement
in installments due in the amounts and times set forth in the Agreement. The payment of
Installment Payments shall be designated as principal and interest as provided in the Agreement.
Section 4 The Board of Commissioners hereby approves the forms of the Agreement
and the Deed of Trust in substantially the forms presented at this meeting. The Chairman and
County Manager are each hereby authorized to execute and deliver on behalf of the County each
of said documents in substantially the forms presented at this meeting, containing such
insertions, deletions and filling in of blanks as the person executing such documents shall
approve, such execution to be conclusive evidence of approval by the Board of Commissioners
of any such changes. The Clerk to the Board or any Assistant or Deputy Clerk is hereby
authorized to affix the official seal of the County to each of said documents and to attest the
same to the extent required.
Section 5 No deficiency judgment may be rendered against the County in any action for
breach of any contractual obligation under the Agreement, and the taxing power of the County is
not and may not be pledged directly or indirectly to secure any moneys due under the
Agreement.
Section 6. The Chairman of the Board of Commissioners, the County Manager, the
Finance Director and the Clerk to the Board of Commissioners, and any other officers, agents
and employees of the County are hereby authorized and directed to deliver such certificates,
opinions and other items of evidence as shall be deemed necessary to consummate the
transactions described above.
Section 7 This resolution shall take effect immediately upon its passage.
5
Upon motion of Commissioner William A. Kopp, Jr., seconded by Vice-Chairman
William A. Caster, the foregoing resolution entitled "RESOLUTION MAKING CERTAIN
FINDINGS AND DETERMINATIONS REGARDING THE FINANCING OF THE
ACQUISITION AND RENOVATION OF MARKET PLACE MALL TO BE USED AS
ADMINISTRATIVE OFFICES OF THE COUNTY PURSUANT TO AN INSTALLMENT
FINANCING AGREEMENT, REQUESTING THE LOCAL GOVERNMENT COMMISSION
TO APPROVE THE FINANCING ARRANGEMENT, AND AUTHORIZING THE
EXECUTION AND DELIVERY OF AN INSTALLMENT FINANCING AGREEMENT AND
A DEED OF TRUST AND RELATED DOCUMENTS IN CONNECTION THEREWITH" was
passed by the following vote:
Ayes: Chairman Robert G Greer, Vice-Chairman William A. Caster, Commissioner William
A. Kopp, and Commissioner Nancy H. Pritchett.
Noes: Commissioner Ted Davis, Jr
* * * * * *
I, Sheila L. Schult, Clerk to the Board of Commissioners for the County of New Hanover,
North Carolina, DO HEREBY CERTIFY that the foregoing is a true copy of so much of the
proceedings of said Board of Commissioners for said County, at a regular meeting held on April
18, 2005, as it relates in any way to the conduction of a public hearing upon an installment
financing agreement and the passage of the foregoing resolution regarding entering into an
installment financing agreement and related documents to finance the acquisition and renovation
of Market Place Mall to be used as administrative offices of the County and that said proceedings
are recorded in the minutes of said Board of Commissioners.
6
I DO HEREBY FURTHER CERTIFY that a schedule of the regular meetings of said
Board of Commissioners, stating that the regular meetings of said Board of Commissioners are
held on the first and third Monday of each month at 5.30 p.m. and 9:00 a.m., respectively, unless
otherwise posted, in the Assembly Room at the New Hanover County Courthouse, Room 301, 24
North Third Street, Wilmington, North Carolina, has been on file with me for at least seven
calendar days prior to said meeting, all in accordance with G.S. 9143-318.12.
WITNESS my hand and official seal of said Board of Commissioners this 18th day of
April, 2005
[SEAL]
~\)~ \ ~~\~
Clerk to the Board of Commissioners
7
EXHIBIT A
[Attach publisher's affidavits evidencing publication of the Notice of Public Hearing]
Al
EXHIBIT B
[A list of any persons making comments and a summary of such comments to be attached. If no
comments are made, please insert "None" ]
None.
B-1
authorized to affix the official seal of the County to each of said documents and to attest the
same to the extent required.
Section 5 No deficiency judgment may be rendered against the County in any action for
breach of any contractual obligation under the Agreement, and the taxing power of the County is
not and may not be pledged directly or indirectly to secure any moneys due under the
Agreement.
Section 6. The Chairman of the Board of Commissioners, the County Manager, the
Finance Director and the Clerk to the Board of Commissioners, and any other officers, agents
and employees of the County are hereby authorized and directed to deliver such certificates,
opinions and other items of evidence as shall be deemed necessary to consummate the
transactions described above.
Section 7 This resolution shall take effect immediately upon its passage.
This 18th day of April, 2005
(SEAL)
1?M~
Chairman, Board of County Commissioners
ATTEST
~ \~'^ "-.\~ r ~"'\\