1996-07-22 RM Exhibits
. .~.-
RESOLUTION APPROVING PURCHASE OF WATER SYSTEMS
OF CAPE FEAR UTILITIES, INC. AND
QUALITY WATER SUPPLIES, INC.
WHEREAS, Cape Fear Utilities, Inc. and Quality Water Supplies, Inc. (hereinafter
"Cape Fear") are North Carolina corporations engaged in the provision of water service with
approximately 9,700 service connections to its water systems that serve numerous subdivisions
and areas within the unincorporated area of New Hanover County; and
WHEREAS, the systems include two elevated water tanks and approximately 170 miles
of water lines which upon appraisal by Dawson Engineering indicates a value of$21.8 million
not including additions to the system since January 1, 1996. This appraisal is expected to be in
excess of $22 million as of July 1, 1996; and
WHEREAS, the County has agreed to offer to purchase the systems from Cape Fear for
the sum of $22 million. The terms of the proposed offer would include a cash payment of $22
million that would be funded through the County's utilization of Certificates of Participation,
hereinafter referred to as COPs. Cape Fear will not be required to accept subordinated notes. The
County will be required to purchase the stock of Cape Fear Utilities, Inc. and Quality Water
Supplies, Inc. from the trustees of one or more charitable remainder trusts to be established by G.
William Dobo and Robert R. Dobo. At the expiration of the charitable remainder trusts on the
lives of the Dobos and their spouses, each trust shall return to the County as a charitable entity
thereunder an amount equal to 47% of the remaining corpus of the trusts, such sum being
approximately $5 million from each trust. The remaining corpus of the charitable remainder
trust shall be paid to other charitable organizations, including UNC Memorial Hospital, UNC-
Wilmington, Salvation Army, N.C. Zoo at Asheboro and the Aquarium at Fort Fisher. No part of
the corpus of the charitable remainder trusts shall inure to the benefit of any private person or
organization; and
WHEREAS, any value of the systems beyond the sum of $22 million shall be donated to
the County. Furthermore, the system at Shearin Hills Subdivision will be donated to the County
with an additional approved well site; and
WHEREAS, the Board of County Commissioners has determined that it is appropriate to
authorize the purchase of the Cape Fear systems subject to certain terms and conditions and to
submit a formal offer to remain open for a period of one hundred (100) days from the date of the
written offer to Cape Fear or its successors; and
WHEREAS, the County is authorized to acquire, improve, maintain, own and operate
public water systems within the unincorporated area of New Hanover County.
~
NOW, THEREFORE, BE IT RESOLVED BY THE NEW HANOVER COUNTY
BOARD OF COMMISSIONERS THAT:
','- ,.
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1. The County Commissioners hereby approve the purchase of the water systems of Cape
Fear Utilities, Inc. and Quality Water Supplies, Inc. for the stated purchase price of $22 million
subject to the following terms and conditions:
a. The County shall be able to obtain financing of $22 million through COPs.
b. Cape Fear or its successor shall not be required to finance any of the purchase
pnce.
c. Cape Fear or its successor shall donate to the County any portion of the system
added after July 1, 1996.
d. Cape Fear or its successor shall donate to the County the Shearin Hills
Subdivision system and one additional well site.
e. The County will be required to purchase the stock of Cape Fear Utilities, Inc.
and Quality Water Supplies, Inc. from the trustees of one or more charitable remainder trusts to
be established by G. William Dobo and Robert R. Dobo.
f. The Seller of the stock of Cape Fear Utilities, Inc. and Quality Water Supplies,
Inc. shall be the trustees of charitable remainder trusts established by G. William Dobo and
Robert R. Dobo. At the expiration ofthe charitable remainder trusts on the lives of the Dobos
and their spouses, each trust shall return to the County as a charitable entity thereunder an
amount equal to 47% of the remaining corpus of the trusts, such sum being approximately $5
million from each trust. The remaining corpus of the charitable remainder trust shall be paid to
other charitable organizations, including UNC Memorial Hospital, UNC- Wilmington, Salvation
Army (Wilmington Branch use only), N.C. Zoo at Asheboro and the Aquarium at Fort Fisher.
No part of the corpus of the, charitable remainder trusts shall inure to the benefit of any private
person or organization.
g. Each trust shall be subject to review and comment by the County Attorney.
h. The closing on the acquisition of the systems shall occur after January 1, 1997
or within sixty (60) days after approval of the sale by the Local Government Commission and the
North Carolina Utilities Commission, whichever date is later.
i. The closing shall be subject to the County's verification ofthe quantities
included in the preliminary appraisal for Cape Fear Utilities, Inc. prepared by Dawson
Engineering and dated January 19, 1996 and to be updated through the date of July 1, 1996.
j. The final form of the purchase agreement shall be subject to approval by the
County Commissioners and the County's Bond Counsel.
2. The County Manager and County Attorney shall communicate this proposal in writing
to Cape Fear or its successors, which written offer shall remain open for a period of one hundred
lo; ...;
(100) days from the date ofthe written offer by the County.
This th~&'.~ day Of~, 1996.
New Hanover County ,
1lJ~~
Robert G. Greer, Chairman
Board of County Commissioners
ATTEST:
ctb\'/~
C rk to the Board
NEW HANOVER COUNTY TAX COLLECTIONS
COLLECTIONS THRU 06/30/96
CURRENT TAX YEAR - 1995
-----------------------
ORIGINAL TAX LEVY PER SCROLL
DISCOVERIES ADDED
LESS ABATEMENTS
TOTAL TAXES CHARGED
ADVERTISING FEES CHARGED
LISTING PENALTIES CHARGED
TOTAL LEVY
COLLECTIONS TO DATE
OUTSTANDING BALANCE
PERCENTAGE COLLECTED
PERCENTAGE COLLECTED EXCLUDING
BANKRUPTCIES AND APPEALS
BACK TAXES
----------
REAL ESTATE AND PERSONAL PROPERTY
CHARGES ADDEO
LESS ABATEMENTS
TOTAL TAXES DUE
COLLECTIONS TO DATE
OUTSTANDING BALANCE
PERCENTAGE COLLECTED
ROOM OCCUPANCY TAX COLLECTIONS
PRIVILEGE LICENSE COLLECTIONS
EMS COLLECTIONS
AD VALOREM
$47,630,320.15
2,334,534.06
109,099.25-
--------------.-
$ 49,855,754.96
13,300.00
42,937.75
---------------
$ 49,911,992.71
49,481,266.71-
---------------
$ 430,726.00
99.14%*
99.23%**
$ 2,463,963.85
92,002.34
166,330.57-
---------------
$ 2,389,635.62
765,334.68-
---_._----------
$ 1,624,300.94
32.03%
JUN 1996
206,704.72
31,973.75
.00
TOTAL MONEY PROCESSED THRU COLLECTION OFFICE FOR
CITY OF WILMINGTON~ WRIGHTSVILLE BEACH, CAROLINA
BEACH TO DATE - $7/,637,207.84.
THIS REPORT IS FOR FISCAL YEAR BEGINNING JULY 1,
~CTFULL Y SUBMI-TTW, _ ,
~rti(~:..., CA. ""-~-V
PATRICIA J. RA~OR -U
COLLECTOR OF REVENUE
CONSENT AGENDA
DATE:_________
ITEM NO.______
MOTOR VEHICLE
$ 4,681,810.64
43,061.66
52,147.99-
---------.-.-----
$ 4,672,724.31
.00
.00
$ 4,672,724.31
4,296,328.10-
------------_._-
$ 376,396.21
91.94%*
91.95%**
FISCAL YTO
1,953,939.72
45,201.38
.00
NEW HANOVER COUNTY,
BEACH AND KURE
1995.
* COMBINED COLLECTION PERCENTAGE - 98.52%
** COMBINED COLLECTION PERCENTAGE EXCLUDING BANKRUPTCIES AND APPEALS - 98.61%
CONSENT AGENDA
DATE:_________
ITEM NO.______
NEW HANOVER COUNTY FIRE DISTRICT TAX COLLECTIONS
COLLECTIONS THRU 06/30/96
CURRENT TAX YEAR - 1995
-----------------------
ORIGINAL TAX LEVY PER SCROLL
DISCOVERIES ADDEO
LESS ABATEMENTS
TOTAL TAXES CHARGED
lISTING PENALTIES CHARGED
TOTAL LEVY
COLLECTIONS TO DATE
OUTSTANDING BALANCE
PERCENTAGE COLLECTED
PERCENTAGE COLLECTED EXCLUDING
BANKRUPTCIES AND APPEALS
BACK TAXES
--------_.-
REAL ESTATE AND PERSONAL PROPERTY $
CHARGES ADDEO
lESS ABATEMENTS
TOTAL TAXES DUE
COLLECTIONS TO DATE
OUTSTANDING BALANCE
PERCENTAGE COLLECTED
THIS REPORT IS FOR FISCAL YEAR BEGINNING JULY 1, 1995.
AD VALOREM
MOTOR VEHICLE
$ 1,049,185.10
57,264.39
25,049.02-
-----------_._--
$ 1,081,400.47
1,014.58
---------------
$ 1,082,415.05
1,074,931.76-
$
113,400.26
1,284.38
1,343.25-
------.-.----.----
$ 113,341.39
.00
$
$
7,477.29
99.31%*
113,341.39
106,360.29-
------.--.-------
$ 6,981.10
93.84%*
99.33%**
93.85%**
44,873.72
3,043.86
774.35-
$
47,143.23
15,893.49-
$
31,249.14
33.71%
~. -CTFULLY SU8MrT~,
.' ~ t..4r"(/"'t,.<'
4v'rv"'"", (.1 :.,J . .... U
PATRICIA J. RA OR
COLLECTOR OF REVENUE
* COMBINED COLLECTION PERCENTAGE - 98.79%
** COMBINED COLLECTION PERCENTAGE EXCLUDING BANKRUPTCIES AND APPEALS - 98.81%
NEW HANOVER COUNTY BOARD OF COMMISSIONERS
RESOLUTION
WHEREAS, New Hanover County has been designated one of the 1996 Pacesetter
organizations, and;
WHEREAS, in 1994 and 1995 employees of New Hanover County generously contributed
to the United Way and were ranked 8th in the top ten organizations in total contributions,
and;
WHEREAS, the 1996 United Way actively supports the many needs of the local
community, and;
WHEREAS, the County has established a goal of $33,750 a three percent increase over
last year's goal;
New Hanover County Board of Commissioners
A
'iLlA1~
Robert G. Greer, Chairman
I tf"1 ,.
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i)VV,1.
'207~
o '2 8 6
'96AUG21 Ar11013
STATE OF NORTH CAROLINARECORDED AND VERIFIED
COUNTY OF NEW HANOVER ~L~f<'( SUE OOTS
REGiSTER Of DEEDS
NEW HM!O'iER CO. NC
BEFORE THE BOARD OF
COUNTY COMMISSIONERS
ORDER
In the Matter of Closing
Watercrest Street (Brandywine Subdivision)
000047
It appearing to the Board of County Commissioners of New Hanover County that a
Resolution of Intent to close a portion of Water crest Street was adopted by the County
Commissioners on the 6th day of May, 1996, and it further appearing that said resolution called
for a hearing to be held on the 3rd day of June, 1996, which was continued to July 1, 1996, at
which time the County Commissioners would hear complaints and comments of interested
persons, and it further appearing that notice of said hearing was published in the Wilmington
Star-News Newspaper in accordance with the Road Closing Ordinance of New Hanover County,
and after conducting such hearing, the County Commissioners are of the opinion that Watercrest
Street in the County of New Hanover should be closed and are satisfied that the closing of same
is not contrary to the public interest, and that no individual owning property in the vicinity of the
road will be deprived of reasonable means of ingress and egress to his property by such closing,
the legal description of said road being as follows:
Being all of a 60 foot right-of-way, 150 feet in length
known as Watercrest Street (unimproved) located in Brandywine
Subdivision, Middle Sound Community and duly recorded as a
portion of Brandywine Subdivision, Map Book 10, Page 50 of the
New Hanover County Registry. HOWEVER, RESERVING AND
EXCEPTING UNTO NEW HANOVER COUNTY a conservation
easement to keep the subject tract in its present natural state,
precluding the removal of trees and other vegetation, and
prohibiting grading and filling of the above-referenced area,
SUBJECT to a New Hanover County Water and Sewer District
public utility easement twenty feet in width to accommodate a
sewer line, said utility easement lying south of and being parallel
to the centerline of the herein closed Watercrest Street right-of-
way, and extending the full length of said former right-of-way.
~
NOW, THEREFORE, IT IS ORDERED AND DECREED that the above described road
be and the same is hereby closed, RESERVING and EXCEPTING the above-referenced
conservation easement, SUBJECT to the designated twenty foot utility easement. Provided,
however, should a court of competent jurisdiction invalidate the above conservation easement, it
is the intent of the Board of County Commissioners that the road closure then be considered
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PAGE
2 0 7 Y
028 7
rescinded and without effect and that the road, in such event, be deemed to remain open.
Adopted this the 22nd day of July, 1996.
ATIEST:
C1t,\(/~
. k to the Board
NEW HANOVER COUNTY
/f?JJA ~
Robert G. Greer, Chairman
Board of County Commissioners
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