2005-06-20 RM Exhibits
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NORTH CAROLINA STATE DEPARTMENT OF TRANSPORT A TION
REQUEST FOR ADDITION TO STATE MAINTAINED
SECONDARY ROAD SYSTEM
North Carolina
County of New Hanover
Road(s) Description.
Wedgefield Drive in Crosswinds South Subdivision
(Division File No., l063-N)
WHEREAS, a petition has been filed with the Board of Count I' Commissioners of the COUllty of New
Hanover requesting thai the above described road(s), the location afwhich has been indicated on a map, be
added to the Secondarv Road Svstem, and
WHEREAS, the Board of Count]; Commissioners is of the opinion that the abol'e described roadM
should be added to the Secondary Road System, if the road(s) meets minimum standards and criteria
established bl' the Division ofHighwlIl's of the Department afTransportationfor the addition of roads to the
Svstem.
NOW THEREFORE, be it resolved by the Board of Commissioners of the Cauntv olNew Hallol'er
that the Division afHighways is hereby requested to review the above described road(s), and to take over the
road(s)for maintenance if they meet established standards and criteria.
CERTIFICATE
The foregoing resolution was duly adopted by the Board of Commissioners of the
County of New Hanover at a meeting on the 20th day of June, 2005
1& II :ITNESS
my hand and official
2005
seal this the
d.-~".\
day of
~\JI' ~- ~~L,\
Sheila L. Schult, Clerk to the Board
New Hanover County Board of
Commissioners
Form SR 2
Please Note: Forward directly to the District Engineer Division of Highways.
resolute.wp
1<... -H::- ~ 'I ;.l.. 3 2.
RESOLUTION
OF THE
NEW HANOVER COUNTY
BOARD OF COMMISSIONERS
WHEREAS, pursuant to G S. 365-3, the County Commissioners are required to take
possession and control of all abandoned public cemeteries to establish property
boundaries; and to preserve such sites, as appropriate and
WHEREAS, an examination of tax records and historical sources indicate that the
cemetery situated at 1534 John Morris Road, Tax Parcel No R04200-001-027-000,
Methodist Conference Cemetery is abandoned within the definition of the statutes, without
any ascertained record owner, and without any person or entity including but not limited to
any presently existing Methodist organization maintaining said site
NOW, THEREFORE, BE IT RESOLVED that the New Hanover County Board of
Commissioners does hereby accept possession and control of the above-referenced
cemetery as required by law This Resolution is directed to be recorded in the Registry of
Deeds.
This the 20th day of June, 2005.
(SEAL)
New Hanover County
'iLfJ 6L-
Robert G Greer Chairman
ATTEST
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Clerk to the Board
NEW HANOVER COUNTY TAX COLLECTIONS
COLLECTIONS THRU 05/31/05
CURRENT TAX YEAR 2004
ORIGINAL TAX LEVY PER SCROLL
DISCOVERIES ADDED
LESS ABATEMENTS
TOTAL TAXES CHARGED
AD VALOREM
$ 108,009,979.30
4,176,12476
292,228.69
$ 111,893,875.37
ADVERTISING FEES CHARGED
LISTING PENALTIES CHARGED
CLEANING LIENS CHARGED
TOTAL LEVY
COLLECTIONS TO DATE
OUTSTANDING BALANCE
PERCENTAGE COLLECTED
8,989.50
120,281 94
11,839.38
$ 112,034,986.19
110.940.768.47
$ 1,094,21772
99.02%*
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
118,990.13
168,870.85
$ 4,469,022.11
1.958.400.13
$ 2,510,621.98
43.82%
RENTAL VEHICLE TAX COLLECTIONS
ROOM OCCUPANCY TAX COLLECTIONS
PRIVILEGE LICENSE COLLECTIONS
$
MA Y 2005
31,586.87 $
502,275.18
212.50
1<.B:-:2.9 .:l.3 "3
CONSENT AGENDA
DATE.
ITEM NO
MOTOR VEHICLE
$ 10,072,785.83
11,052.33
146.804.42
$ 9,937,03374
.00
$
$
.00
.00
9,937,03374
8,088,855.66
1,848,178.08
8140%*
FISCAL YTD
285,019.03
5,516,252.32
16,684.01
TOTAL MONEY PROCESSED THRU COLLECTION OFFICE FOR NEW HANOVER COUNTY CITY OF WILMINGTON,
WRIGHTSVILLE BEACH, CAROLINA BEACH AND KURE BEACH TO DATE $ 179715,760.62.
THIS REPORT IS FOR FISCAL YEAR BEGINNING JULY 1 2004
RESPECTFULL Y SUBMITTED,
PA TRICIA J. RAYNOR
COLLECTOR OF REVENUE
* COMBINED COLLECTION PERCENTAGE 97.59%
":R1k;L9 .23 3
CONSENT AGENDA
DATE
ITEM NO
NEW HANOVER COUNTY FIRE DISTRICT TAX COLLECTIONS
COLLECTIONS THRU 05/31/05
CURRENT TAX YEAR - 2004
ORIGINAL TAX LEVY PER SCROLL
DISCOVERIES ADDED
LESS ABATEMENTS
TOTAL TAXES CHARGED
LISTING PENALTIES CHARGED
TOTAL LEVY
COLLECTIONS TO DATE
OUTSTANDING BALANCE
PERCENTAGE COLLECTED
BACK TAXES
AD VALOREM
MOTOR VEHICLE
$ 3 466 285 94 $
212,623 91
70 068 43-
414 689 25
735 12
6 466 30-
$ 3 608 841 42
5,116 33
$
408 958 07
00
$ 3 613 957 75 $
3 575 572 01-
408 958 07
336 234 13-
$
38,385 74 $
98 94%*
72 723 94
82 22%*
REAL ESTATE AND PERSONAL PROPERTY $
CHARGES ADDED
LESS ABATEMENTS
TOTAL TAXES DUE
COLLECTIONS TO DATE
OUTSTANDING BALANCE
PERCENTAGE COLLECTED
129 420 46
7,279 48
4 110 33-
$
132,589 61
66 571 31-
$
66 018 30
50 21%
THIS REPORT IS FOR FISCAL YEAR BEGINNING JULY 1, 2004
R~CTFULLY SUBMITTED
--Y6.n1Li", ~ ~~n..
PATRICIA J R](YNOR
COLLECTOR OF REVENUE
* COMBINED COLLECTION PERCENTAGE - 97 24%
.
7<.4.1.-'1 .:13 I.f-
NEW HANOVER COUNTY, NORTH CAROLINA
2005-06 BUDGET ORDINANCE
BE IT ORDAINED by the Board of Commissioners of New Hanover County North
Carolina, in regular session assembled:
Section 1 The following amounts are hereby appropriated for the operation of New
Hanover County government and its activities for the fiscal year beginning July 1 2005 and
ending June 30 2006, according to the following summary and schedules.
Summary
General Fund
New Hanover County Schools Fund
Emergency Telephone Fund
Wireless Fund
Room Occupancy Tax Fund
Environmental Management Fund
Total Budget
Estimated
Revenues
$234121 546
71,200,571
575716
195717
7 067 443
15,076,728
$328,237721
GENERAL FUND
Fund Balance
Appropriated
$4100000
800 000
502,421
671 130
o
Q
$6073551
Total
Appropriation
$238,221 546
72,000,571
1078137
866 847
7 067 443
15,076,728
$334311 272
Section 2: That for said fiscal year there is hereby appropriated out of the General Fund
the following:
Function
Current
General Government
Human Services
Public Safety
Economic & Physical Development
Cultural & Recreational
Education
Contingency
Transfers
Debt Service
Debt Service
Total Appropriations - General Fund
Appropriation
$25776,812
63798151
40,559359
285 558
9 669,659
76,875 096
300 000
4,518,214
16.438,697
$238 221 546
Section 3: It is estimated that the following General Fund revenues will be available
during the fiscal year beginning July 1 2005, and ending June 30, 2006 to meet the foregoing
General Fund appropriations:
Revenue Source
Ad Valorem Taxes
Sales Tax (Art. 39)
Sales Taxes (Art. 40 & 42)
Sales Tax (Art. 44)
Other Taxes
Intergovernmental Revenues
Charges for Services
Other Revenues
Transfer In
ABC Revenue
Appropriated Fund Balance
Total Revenues - General Fund
Amount
$126033004
25047614
12,981814
8,499461
2,557 000
38,436,213
11 009 050
1 026 442
6,931 948
1,599 000
4,100,000
$238221 546
NEW HANOVER COUNTY SCHOOLS FUND
Section 4 In accordance with G.S 115C-429 (b), the following appropriations are made
to the New Hanover County Schools Fund. The budget resolution adopted by the New Hanover
County Board of Education shall conform to the appropriations set forth in the budget ordinance
for current expense and capital outlay Once adopted, such ordinance shall not be amended
without the prior approval of the Board of Commissioners if the cumulative effect of such
amendment would be to increase or decrease the amount of County appropriation by 25
percent or more.
Cateqorv
Current Expense
Capital Outlay
Debt Service
Contribution to School Pension Fund
Total Appropriation - New Hanover County Schools Fund
Appropriation
$52,866477
4 033 894
14 394,200
706,000
$72 000 571
Section 5 It is estimated that the following New Hanover County Schools Fund
revenues will be available during the fiscal year beginning July 1 2005 and ending June 30
2006, to meet the foregoing Schools Fund appropriations:
Revenue Source
Transfer In/One-Half Cent Sales Taxes (Art 40 & 42)
Transfer InlGeneral Fund
Appropriated Fund Balance
Total Revenues - New Hanover County Schools Fund
Amount
$5,825 132
65,375439
800,000
$72 000 571
EMERGENCY TELEPHONE FUND
Section 6. For said fiscal year there is hereby appropriated out of the Emergency
Telephone Fund the sum of'
$1 078137
Section 7 It is estimated that the following Emergency Telephone Fund revenues will
be available during the fiscal year beginning July 1 2005 and ending June 30 2006, to meet
the foregoing Emergency Telephone appropriations:
Revenue Source
Charges for Services
Appropriated Fund Balance
Total Revenues - Emergency Telephone Fund
Amount
$575,716
502.421
$1 078137
WIRELESS 911 FUND
Section 8: For said fiscal year there is hereby appropriated out of the Wireless 911
Fund the sum of'
$866847
Section 9' It is estimated that the following Wireless 911 Fund revenues will be
available during the fiscal year beginning July 1 2005, and ending June 30 2006 to meet the
foregoing Wireless 911 Fund appropriations:
Revenue Source
Intergovernmental Revenue
Appropriated Fund Balance
Total Revenues - Wireless 911 Fund
Amount
$195,717
671,130
$866847
ROOM OCCUPANCY TAX FUND
Section 10: For said fiscal year there is hereby appropriated out of the Room
Occupancy Tax Fund the sum of'
$7 067 443
Section 11 It is estimated that the following Room Occupancy Tax Fund revenues will
be available during the fiscal year beginning July 1 2005, and ending June 30 2006 to meet
the foregoing Room Occupancy Tax Fund appropriations:
Revenue Source
Room Occupancy Tax
Intergovernmental Revenue
Charges for Services
Total Revenues -Room Occupancy Tax Fund
Amount
$3,200 000
3460,500
406.943
$7 067 443
ENVIRONMENTAL MANAGEMENT FUND
Section 12: For said fiscal year there is hereby appropriated out of the Environmental
Management Fund the sum of'
$15076728
Section 13: It is estimated that the following Environmental Management Fund
revenues will be available during the fiscal year beginning July 1 2005, and ending June 30
2006, to meet the foregoing Environmental Management Fund appropriations:
Revenue Source
Intergovernmental Revenues
Charges for Services
Other Revenues
Total Revenues - Environmental Management Fund
Amount
$295 000
14671728
110.000
$15 076 728
GENERAL FUND
Section 14 There is hereby levied in the General Fund for the fiscal year ending June
30 2006 the rate of 68 cents on each One Hundred Dollars ($100.00) assessed valuation of
taxable property as listed as of January 1 2005, for the purpose of raising the revenues from
the current year's property tax as set forth in the foregoing appropriations.
Such rate is based on an estimated total appraised value of property for the purpose of
taxation of $18,525000,000 with an assessment ratio of 100 percent of appraised value.
Estimated collection rate of 98 percent is based on a fiscal year 2004-05 collection rate of 98
percent.
Section 15 The Board of Education shall supply the County on a monthly basis an
accounting of its expenditures for school facilities maintenance and renovations, exclusive of
those authorized under the bond issue on the County Bond Issue in a format established by
the County Commissioners.
Section 16. The Board of Education shall notify the County in writing of any changes
made to their planned capital fund expenditures. The notification should include. (1) nature of
the change, (2) reason for the change, (3) dollar amount of any expenditure change, by
planned project, and (4) plans for and estimated cost of completing planned project in the
future, if completion as originally anticipated will not be possible
Section 17 Copies of this Budget Ordinance shall be furnished to the County Manager
and the County Finance Director of New Hanover County North Carolina, to be kept on file by
them for their direction in the collection of revenues and the expenditures of amounts
appropriated.
Section 18: That appropriations herein authorized and made shall have the amount of
outstanding purchase orders as of June 30 2005 added to each appropriation, as it appears in
order to account for the payment against the fiscal year in which it is paid.
ADOPTED this 20th day of June, 2005.
~\.\ \ . ~(\\,,\\
Clerk to the Board
l/il;j~
Robert G Greer Chairman
Board of County Commissioners
NEW HANOVER COUNTY, NORTH CAROLINA
SPECIAL FIRE DISTRICT
2005-06 BUDGET ORDINANCE
BE IT ORDAINED by the Board of Commissioners of New Hanover County North
Carolina, in regular session assembled:
Section 1 The following amount is hereby appropriated for the operation of New
Hanover County Special Fire District and its activities for the fiscal year beginning July 1 2005
and ending June 30, 2006.
$5 955.242
Section 2: It is estimated that the following Special Fire District revenues will be
available during the fiscal year beginning July 1 2005 and ending June 30, 2006, to meet the
foregoing Special Fire District appropriations:
Revenue Source
Ad Valorem Taxes
Sales Taxes
Charges for Service
Appropriated Fund Balance
Total Revenues - Special Fire District Fund
Amount
$4192,740
1 484,884
57 000
220.618
$5 955 242
Section 3: There is hereby levied in the Special Fire District Fund for the fiscal year
ending June 30 2006 the rate of 6 cents on each One Hundred Dollars ($100 00) assessed
valuation of taxable property as listed as of January 1 2005, for the purpose of raising the
revenues from the current year's property tax as set forth in the foregoing appropriations.
Such rate is based on an estimated total appraised value of property for the purpose of
taxation of $6,980,000,000 with an assessment ratio of 100 percent of appraised value.
Estimated collection rate of 98 percent is based on fiscal year 2004-05 collection rate of 98
percent.
Section 4 Copies of the Budget Ordinance shall be furnished to the County Manager
and the Finance Director of New Hanover County North Carolina, to be kept on file by them for
their direction in the collection of revenues and the expenditures of amounts appropriated.
Section 5 That appropriations herein authorized and made shall have the amount of
outstanding purchase orders as of June 30 2005, added to each appropriation, as it appears in
order to account for the payment against the fiscal year in which it is paid.
ADOPTED this 20th day of June, 2005.
~15~
~ \~. "- ~0\."\1,
Clerk to the Board
Robert G. Greer Chairman
Board of County Commissioners
NEW HANOVER COUNTY, NORTH CAROLINA
WATER AND SEWER DISTRICT
2005-06 BUDGET ORDINANCE
BE IT ORDAINED by the New Hanover County North Carolina, Water and Sewer
District in special session assembled:
Section 1 The following amount is hereby appropriated for the operation of New
Hanover County Water and Sewer District and its activities for the fiscal year beginning July 1
2005 and ending June 3D 2006, according to the following schedule:
Section 2: For said fiscal year there is hereby appropriated out of the Water and Sewer
District Fund the sum of
$15 392 031
Section 3' It is estimated that the following Water and Sewer District Fund revenues will
be available during the fiscal year beginning July 1 2005, and ending June 3D 2006 to meet
the foregoing Water and Sewer District Fund appropriations:
Revenue Source
Charges for Service
Operating Transfer/One-Half Cent Sales Taxes (Art 40 & 42)
Interest and Other
Appropriated Fund Balance
Total Revenues - Water and Sewer District Fund
Amount
$12,225 376
1,942,319
304 000
920,336
$15 392 031
Section 4 Copies of this Budget Ordinance shall be furnished to the Finance Director of
the New Hanover County North Carolina, Water and Sewer District, to be kept on file by him
for his direction in the collection of revenues and expenditures of amounts appropriated.
Section 5 That appropriations herein authorized and made shall have the amount of
outstanding purchase orders as of June 30, 2005 added to each appropriation, as it appears in
order to account for the payment against the fiscal year in which it is paid.
ADOPTED this 20th day of June, 2005
~ \, \. \.. ~ ~,.\~
Clerk to the District Board
w~c~
William A. Caster Chairman
Water and Sewer District
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RESOLUTION OF THE BOARD OF COMMISSIONERS OF
THE COUNTY OF NEW HANOVER, NORTH CAROLINA,
APPROVING AN INSTALLMENT FINANCING
CONTRACT AMENDMENT AND THE REFINANCING OF
A PORTION OF THE COSTS ASSOCIATED WITH THE
ACQUISITION OF LAND, THE CONSTRUCTION,
RENOVATION AND EQUIPPING OF
WATER/WASTEWATER, LIBRARY AND LAW
ENFORCEMENT FACILITIES AND MAKING CERTAIN
FINDINGS AND DETERMINATIONS IN CONNECTION
THEREWITH
Section 1 The Board hereby finds and determines in connection with the Contract
Amendment and the transactions contemplated thereby that (a) such Contract Amendment is
necessary or expedient, (b) such proposed Contract Amendment, under current circumstances, is
preferable to a bond issue of the County for the same purpose, (c) the sums estimated to fall due
under such Contract Amendment are adequate and not excessive for its proposed purpose, (d) the
County's debt management procedures and policies are good and its debt will continue to be
managed in strict compliance with the law (e) any increase in taxes necessary to meet the sums
estimated to fall due under the Contract Amendment will not be excessive and (f) the County is
not in default regarding any of its debt service obligations.
Section 2.
This Resolution shall become effective immediately upon its adoption.
This is the 20th day of June, 2005
(SEAL)
N~il6RrY
Robert G. Greer, Chairman
ATTEST
~~.\~ \ ~~~\~
Sheila 1. Schult, Clerk to the Board
RESOLUTION APPROVING AN INSTALLMENT
FINANCING CONTRACT AMENDMENT TO THE
INSTALLMENT FINANCING CONTRACT DATED
DECEMBER 1, 1997 BETWEEN THE COUNTY AND NEW
HANOVER COUNTY FINANCING CORPORATION, THE
REFINANCING OF A PORTION OF THE COSTS
RELATED TO CERTAIN CAPITAL PROJECTS
FINANCED IN 1997, THE SALE OF NOT MORE THAN
$14,000,000 REFUNDING CERTIFICATES OF
PARTICIPATION, SERIES 2005A AND AUTHORIZING
THE EXECUTION AND DELIVERY OF DOCUMENTS IN
CONNECTION THEREWITH
WHEREAS, the County has previously entered into an Installment Financing Contract
dated as of December 1,1997 (the "1997 Contract") with the New Hanover County Financing
Corporation to finance costs related to the acquisition, construction and equipping of the
Projects; the Corporation executed and delivered Certificates of Participation, Series 1997 (New
Hanover County Projects) Evidencing Proportionate Undivided Interests in Rights to Receive
Revenues Pursuant to an Installment Financing Contract with the County (the "1997
Certificates"); and the County has been advised that it can achieve debt service savings by
refinancing the principal component of its mstallment payment obligations con-esponding to the
1997 Certificates due under the 1997 Contract on and after December I, 2009 (the "Refunded
1997 Celiificates");
WHEREAS, the Corporation will execute and deliver Refunding Certificates of
Participation, Series 2005A (New Hanover County Projects) Evidencing Proportionate
UndIvided Interests in Rights to Receive Revenues Pursuant to an Installment Financing
Contract with the County (the "2005A Certificates") to finance the refunding of the Refunded
1997 Certificates;
WHEREAS, in cOlmection with the sale of the 2005A Certificates by the Corporation to
Wachovia Bank, National Association (the "Underwriter"), the County desires to make certain
representations and warranties to the Underwriter in the form of a Letter of Representation from
the County to the Underwriter to be dated on or about June 30, 2005 (the "2005A Letter of
Representation");
WHEREAS, there have been available at this meetmg fonns ofthe following:
(I) A draft of the fonn of Amendment Number One to the Installment Financing
Contract to be dated July 1 2005 (the "Contract Amendment") between the
County and the Corporation,
(2) A draft of the form of Supplemental Indenture, Numbcr 1 to be dated July I 2005
(the "First Supplement") between the Corporation and First-Citizens Bank &
Trust Company, as trustee (the 'Trustee");
NYC566797.1
(3) A draft of the form of Prelnninary Official Statement (the "Preliminary Official
Statement") relating to the 2005A Certificates;
(4) A draft of the f01111 of the Contract of Purchase to be dated on or about June 30,
2005 (the "Purchase Contract") between Wachovia Barue, National Association
(the "Underwriter") and the Corporation, relating to the 2005A Certificates;
(5) A draft of the fonn of the 2005A Letter of Representation from the County to the
Underwriter, relating to the 2005A Certificates; and
(6) A draft of the f01111 of the Escrow Af,'feement to be dated July I 2005 between the
County and the Trustee (the "Escrow Agreement").
WHEREAS, the Board of Commissioners of the County duly conducted a public hearing
on June 20,2005 regarding the Contract Amendment to refinance a portion of the costs related to
the acquisition, construction and equipping of the Projects and made certain findings and
detenninations with respect to the installment refinancing thereof; and
WHEREAS, the Board of Commissioners of the County desires to approve the sale of
the 2005A Certificates and to authorize other actions in connection therewith;
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the
County as follows:
Section 1. All actions heretofore taken by the County Manager, the Finance Director, the
County Clerk and the County Atto111ey, effectuating the proposed installment refinancing of a
portion of the costs related to acquisition, construction and equipping of the Projects, are hereby
approved, ratified and authonzed pursuant to and in accordance with the transactions
contemplated by the documents referred to above.
Section 2. Each of the Contract Amendment, the 2005A Letter of Representation and the
Escrow Agreement, in the fonn submitted to this meeting, is hereby approved, in substantially
such form and the Chainnan or Vice Chainnan of the Board, the County Manager, the Finance
Director and the Clerk to the Board are each hereby authorized and directed to execute and
deliver each of those documents on behalf of the County, with such changes, insertIOns or
omissions as they may approve with the advIce of counsel (including provisions that relate to a
municipal bond insurance policy procured by the County), their execution thereof to constitute
conclusive evidence of their approval.
Section 3. The First Supplement and the Purchase Contract, 111 the fonns submitted to
this meeting, are hereby approved with such changes, insertions or omissions as may be
approved with the advice of counsel, including provisions (if applicable) that relate to a
municipal bond insurance policy procured by the County
Section 4. Each of the Preliminary Official Statement and the final Official Statement in
the fonn of the Preliminary Official Statement submitted to this meeting, is hereby approved, in
substantially such fonn, with such changes, msertIOns and omissions as appropriate, and the use
thereof in connectIOn with the public offering and sale of the 2005A Ccrtificates is hereby
authorized. The Chmrman or Vice Chainnan of thc Board and the County Manager and Finance
Director are hereby authorized and directed to execute and deliver on behalf of the County the
final Official Statement in substantially such fonn, with such changes, insertions and omissions
as they may approve with the advice of counsel, then executIon thereof to constitute conclusive
evidence of their approval.
Section 5. Subject to the limitations set forth herein, the County Manager is hereby
authorized to approve the tenns of the 2005A Certificates, including but not limited to, the
aggregate principal amount and the dates and amounts of maturitIes thereof, the redemption
provisions thereof and the interest rates thereon, providing that: (i) the principal amount of the
2005A Certificates shall not exceed $14000,000; (ii) the final maturity date of the 2005A
Certificates shall be no later than December I, 2017 and (iii) the true interest cost and the
effective interest rate thereof shall not exceed 4.30% and 4 45%, respectively
Section 6. The Chairman or Vice Chainnan of the Board, the County Manager, the
Finance Director, the Clerk to the Board, and the County Attorney are hereby authorized to take
any and all such further action and to execute and deliver such other documents as may be
necessary or advisable or carry out the intent of this Resolution and to effect the refinancing,
including, without limitation, procuring a municipal bond insurance policy and entering into tax
compliance agreements and certificates. Without limiting the generality of the foregoing, the
County Manager and Finance DIrector are authorized to approve all details of the refinancing,
including without limitation, the annual payments under the Contract Amendment, the mterest
rates with respect to such payments, the tenn of the Contract Amendment, and the discount
below or premium above the principal amount of the 2005A Certificates at which the 2005A
Certificates are sold to the Underwriter Execution of the Contract Amendment by the Chmrman
or Vice Chairman of the Board or the County Manager and Finance DIrector shall conclusively
evidence approval of all such details of the refinancing.
Section 7 That if any section, phrase or provision of this Resolution shall for any reason
be declared to be invalid, such declaration shall not affect the valIdity of the remainder of the
sections, phrases or provisions of this Resolution.
Section 8. That all motIOns, orders, resolutions and parts thereof, in conflict herewIth are
hereby repealed.
Section 9 This ResolutIOn shall become effective Immediately upon its adoptlOn.
(SEAL)
N~r
Robert G. Greer, Chairn1an
ATTEST
~ \,.\~ '- ~ cU\
Sheila L. Schult, Clerk to the Board
'R J:t- 2., ~ 6>.:' <0
RESOLUTION OF THE BOARD OF COMMISSIONERS OF
THE COUNTY OF NEW HANOVER, NORTH CAROLINA,
APPROVING AN INSTALLMENT FINANCING
CONTRACT AMENDMENT AND THE REFINANCING OF
A PORTION OF THE COSTS ASSOCIATED WITH THE
CONSTRUCTION, RENOVATION AND EQUIPPING OF
JAIL, LAW ENFORCEMENT, PARKING AND LIBRARY
FACILITIES AND MAKING CERTAIN FINDINGS AND
DETERMINATIONS IN CONNECTION THEREWITH
Section] The Board hereby finds and determines in connection with the Contract
Amendment and the transactions contemplated thereby that (a) such Contract Amendment is
necessary or expedient, (b) such proposed Contract Amendment, under current circumstances, is
preferable to a bond issue of the County for the same purpose, ( c) the sums estimated to fall due
under such Contract Amendment are adequate and not excessive for its proposed purpose, (d) the
County's debt management procedures and policies are good and its debt will continue to be
managed in strict compliance with the law, ( e) any increase in taxes necessary to meet the sums
estimated to fall due under the Contract Amendment will not be excessive and (f) the County is
not in default regarding any of its debt service obligations.
Section 2.
This Resolution shall become effective immediately upon its adoption.
(SEAL)
NE~~rY
Robert G. Greer, Chairman
ATTEST
~\;,\. \..- ---'>t~,,\ \.
Sheila L. Schult, Clerk to the Board
RESOLUTION APPROVING AN INSTALLMENT
FINANCING CONTRACT AMENDMENT TO THE
INSTALLMENT FINANCING CONTRACT DATED
OCTOBER 1, 200] BETWEEN THE COUNTY AND NEW
HANOVER COUNTY FINANCING CORPORATION, THE
REFINANCING OF A PORTION OF THE COSTS
RELATED TO CERTAIN CAPITAL PROJECTS
FINANCED IN 200], THE SALE OF NOT MORE THAN
$27,000,000 REFUNDING CERTIFICATES OF
PARTICIPATION, SERIES 200SB AND AUTHORIZING
THE EXECUTION AND DELIVERY OF DOCUMENTS IN
CONNECTION THEREWITH
WHEREAS, the County has previously entered into an Installment Financing Contract
dated as of October I 2001 (the "200] Contract") with the Ne\V Hanover County Financing
Corporation to finance capital costs of certain jail, law enforcement, parking and library
facilities; the Corporation executed and delivered Certificates of Participation, Series 200 I (New
Hanover County Projects) Evidencing Proportionate Undivided Interests in Rights to Receive
Revenues Pursuant to an Installment Financing Contract with the County (the "200]
Certificates"); and the County has been advised that it can achieve debt service savings by
refinancing the principal component of its installment payment obligations corresponding to the
2001 Certificates due under the 2001 Contract on December I 2013 to 2018, inclusive (the
"Refunded 200] Certificates");
WHEREAS, the CorporatIOn will execute and deliver Refunding Certificates of
Participation, Series 2005B (New Hanover County Projects) Evidencing Proportionate
Undivided Interests in Rights to Receive Revenues Pursuant to an Installment Financing
Contract with the County (the "2005B Certificates") to finance the refunding of the Refunded
200] Certificates;
WHEREAS, in connection with the sale of the 2005B Certificates by the Corporation to
WachovJa Bank, National AssocJation (the "Underwriter"), the County desires to make certam
representatIOns and warranties to the Underwriter in the form of a Letter of Representation from
the County to the Underwriter to be dated on or about June 30, 2005 (the "2005B Letter of
Representation");
WHEREAS, there have been available at this meeting forms of the following:
(I) A draft of the form of Amendment Number One to the Installment Financing
Contract to be dated July 1 2005 (the "Contract Amendment") between the
County and the Corporation,
(2) A draft of the fom1 ofSupplementaJ Indenture, Number] to be dated July I 2005
(the "First Supplement") between the Corporation and First-Citizens Bank &
Trust Company as trustee (the 'Trustee");
NYC566527 I
(3) A draft of the fonn of Preliminary Official Statement (the "Preliminary Official
Statement") relating to the 2005B Certificates;
(4) A draft of the fonn of the Contract of Purchase to he dated on or about June 30,
2005 (the "Purchase Contract") between Wachovia Bank, National AssociatlOn
(the "Underwriter") and the Corporation, relating to the 2005B CertIficates;
(5) A draft of the fonn of the 2005B Letter of Representation from the County to the
Underwriter, relating to the 2005B Certificates; and
(6) A draft of the fonn of the Escrow Agreement to be dated July 1, 2005 between the
County and the Trustee (the "Escrow A.I,'Teement").
WHEREAS, the Board of Commissioners of the County duly conducted a publIc hearing
on June 20, 2005 regardmg the Contract Amendment to refinance a p0l110n of the costs related to
the acquisition, construction, renovation and equipping of the Facilities and made certain
findings and detern1inations with respect to the installment refinancing thereof; and
WHEREAS, the Board of Commissioners of the County desires to approve the sale of
the 2005B Certificates and to authorize other actions in connection therewith,
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the
County as follows:
Section 1. All actions heretofore taken by the County Manager, the Finance Director, the
County Clerk and the County Attorney effectuatmg the proposed installment refinancing of a
portion of the costs related to the acquisition, construction, renovation and eqmpping of the
Facilities, are hereby approved, ratified and authorized pursuant to and in accordance with the
transactions contemplated by the documents referred to above.
Section 2. Each of the Contract Amendment, the 2005B Letter of Representation and the
Escrow Agreement, in the form submitted to this meeting, is hereby approved, in substantially
such fonn and the Chairman or Vice Chainnan of the Board, the County Manager, the Finance
Director and the Clerk to the Board are each hereby authorized and dIrected to execute and
deliver each of those documents on behalf of the County, with such changes, insertions or
omisslOns as they may approve with the advice of counsel (including provisions that relate to a
municipal bond insurance policy procured by the County), their execution thereof to constitute
conclusive eVIdence of their approval.
Section 3. The First Supplement and the Purchase Contract, in the fonns submitted to
this meeting, are hereby approved with such changes, insertions or omissions as may be
approved WIth the advice of counsel, including provisions (if applicable) that relate to a
municipal bond insurance policy procured by the County
Section 4 Each of the Preliminary Official Statement and thc final Official Statement in
the fonn of the Preliminary OffiCIal Statement submitted to this meeting, is hereby approved, in
substantially such fonn, with such changes, insertions and omissions as appropriate, and the use
thereof in connectIon WIth the public offering and sale of the 2005B Certificates is hereby
authorized. The Chainnan or Vice ChaimlaJl of the Board and the County Manager and Finance
Director are hereby authorized and directed to execute and deliver on behalf of the County, the
final Official Statement in substantially such fonn, wIth such changes, insertions and omissions
as they may approve with the advice of counsel, thelT executlOn thereof to constitute conclusive
evidence of their approval.
Section 5. Subject to the limitations set forth herein, the County Manager is hereby
authorized to approve the temlS of the 2005B Certificates, includmg but not limited to, the
aggregate principal amount and the dates and amounts of maturities thereof, the prepayment
provisions thereof and the interest rates thereon, providing that: (i) the principal amount of the
2005B Certificates shall not exceed $27000,000' (ii) the final maturity date of the 20058
Certificates shall be no later than December 1, 2022, and (iii) the true interest cost and the
effective interest cost thereof shall not exceed 4.30% and 4 45%, respectively
Section 6. The Chairman or Vice Chairman of the Board, the County Manager, the
Finance Director, the Clerk to the Board, and the County Attomey are hereby authorized to take
any and all such further action and to execute and deliver such other documents as may be
necessary or advisable or carry out the intent of this Resolution and to effect the refinancing,
including, without limitation, procuring a municipal bond insurance policy and entering into tax
compliance agreements llild certificates. Without limiting the generality of the foregoing, the
County Manager and Finance Director are authorized to approve all details of the refinllilcing,
including without limitation, the armual payments under the Contract Amendment, the interest
rates with respect to such payments, the term of the Contract Amendment, and the discount
below or premium above the principal amount of the 2005B Certificates at which the 2005B
Certificates are sold to the Underwriter Execution of the Contract Amendment by the Chairman
or Vice Chainnan of the Board or the County Mllilager llild Finllilce Director shall conclusively
evidence approval of all such details of the refinancmg.
Section 7 That if any section, phrase or provision of this Resolution shall for aJly reason
be declared to be invahd, such declaration shall not affect the validity of the remainder of the
sections, phrases or provisions of this Resolution.
Section 8. That all motions, orders, resolutions and paJ1s thereof, in conflict herewith are
hereby repealed.
Section 9 This Resolution shall become effective immediately upon its adoption.
This is the 20th day of June, 2005
~y
Robert G. Greer, Chairman
(SEAL)
}.\
Sheila L. Schult, Clerk to the Board
"RtX: 2.PI ::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 II, Water Service Fee Schedule Appendix B be
amended as follows:
Article II. Water Service. Fee Schedule. Appendix B.
S 56-37(b)(3)(a). Water usage charges.
Change Table as follows.
TABLE INSET
Gallons, per 1 000 gallons Charge
o - 45 000 $~ $170
45 000 - 562,500 $~ $1.45
Over 562,500 $~ $1.20
Except as specifically amended herein, Chapter 56 Utilities, Article II Water
Service Fee Schedule, Appendix B shall remain unaltered in full force and effect.
This the 20th day of June, 2005
[SEAL]
~~NTY
Robert G Greer, Chairman
Board of Commissioners
ATTEST
~ \.\.. \ ~~~,,\~
Clerk to the Board
1<~ 1.'1 2'? B
A RESOLUTION OF THE NEW HANOVER COUNTY
BOARD OF COMMISSIONERS
The New Hanover County Board of Commissioners does hereby resolve as follows:
WHEREAS, Medicaid costs for counties are far outstripping county governments ability
to provide for those increases through the traditional source of flexible revenue - i.e , the
property tax, and
WHEREAS, New Hanover County is recommending $9,442,747 in 2005.2006 for
Medicaid, which equates to 5.2 cents on the property tax rate and
WHEREAS, North Carolina counties have no opportunity under federal and state law to
control Medicaid expenditures, and
WHEREAS a plan to completely phase out required county Medicaid expenditures is
desirable,
NOW, THEREFORE, BE IT RESOLVED that the New Hanover County Board of
Commissioners hereby urges the General Assembly of North Carolina to use available revenue
options to begin a phase-out of county contributions to fund Medicaid costs.
FURTHER BE IT RESOLVED that a copy of this resolution be presented to members of
the General Assembly
Adopted this 20th day of June, 2005
[Seal]
NEW HANOVER COUNTY
ATTEST
~ \1.\. \. ~ J..~\\
Sheila Schult, Clerk to the Board
~~~
Robert G. Greer Chairman
Board of County Commissioners