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2005-06-20 RM Exhibits ""R-bh. 2- 't ~ '3 I 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 ~\I\" \ ~Q,~"\\ 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 ",.Utttr"" ",,~ ...",OVER 00"'" ...' ~ v', ----"'.a'1-"'-"'- ~ ~ -!---, ~ . . z:' : s:I .. I 0: :'"", ~ = - IU ,...... -:. ~ 'bo&.:;-.~ <,):: ;.;. -,. :---..,~... ~:- ~.., -- ~...... " +0 ~r:;, .... "'" 8E'WER '0"...... """'lln"" 'Kfr:2..li :l."3 S 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