1990-11-05 W&S Exhibit
~. .-.~__ .___._...._ ~._~__.~_.__..__.._..__._.___,____ ._. - __n
,',
,~ ';l.,~~""."<'~~~
'.!.
~-
EXTRACTS FROM MINUTES OF BOARD OF COMMISSIONERS
OF THE COUNTY OF NEW HANOVER, SITTING AS
THE GOVERNING BODY OF NEW HANOVER COUNTY
WATER AND SEWER DISTRICT
The New Hanover County Board of Commissioners sitting as
the governing body of New Hanover County Water and Sewer
District, met in Regular Session on Monday, November 5, 1990
at 7:30 PM in the Assembly Room of the New Hanover County
Courthouse, Wilmington, North Carolina.
Members present were:
Jonathan Barfield, Sr., Chairman
E.L. Mathews, Jr., Vice-Chairman
Fred Retchin
Nolan O'Neal
Robert G. Greer
*
*
*
*
*
Fred Retchin
moved that the following
resolution be adopted:
WHEREAS, the Local Government Commission of North
Carolina has informed the Board of Commissioners of the County of
New Hanover, sitting as the governing body of New Hanover County
Water and Sewer District, that it has sold in the manner pre-
scribed by law the District's $12,690,000 Sanitary Sewer Bonds,
dated November 1, 1990 (the "Bonds"), and that the contract of
sale contemplates that the Bonds shall bear interest as herein-
after provided; NOW, THEREFORE,
.- '
, "" - \"~""";'
- ,
BE IT RESOLVED by the Board of Commissioners of the
County of New Hanover, sitting as the governing body of New
Hanover County Water and Sewer District, (the "Issuer"), as
follows:
1. The Bonds shall bear interest as follows:
bonds payable in each of the years 1993 to
1995, inclusive, 6.75% per annum;
bonds payable in the year 1996, 6.80% per annum;
and
bonds payable in each of the years 1997 to
2012, inclusive, 6.90% per annum.
2. The Official Statement dated October 12, 1990
setting forth financial and statistical data in connection with
the offering of the Bonds, which was circulated with the Notice
of Sale thereof, and the Final Official Statement dated October
30, 1990 are hereby approved. In connection with this approval,
the Board of Commissioners of the County of New Hanover, sitting
as the governing body of the Issuer, has examined copies of the
Official Statement and the Final Official Statement and has, to
the extent and in the manner it has deemed necessary, discussed
the contents thereof with officers of the administration of the
Issuer. The Board of Commissioners of the County of New Hanover,
sitting as the governing body of the Issuer, does hereby recite
that, upon its examination and discussions, nothing has come to
its attention which would lead it to believe that said Official
Statement or said Final Official Statement contains any untrue
statement of a material fact or omits to state any material fact
necessary to make the statements therein, in the light of the
-2-
H", .
l!"t""""'~ ~.
..: r. If
circumstances under which they were made, not misleading, provid-
ed that the Board makes no recitation with respect to considera-
tion of information supplied by, or which should have been
supplied by, the successful bidder for the Bonds.
3. This resolution shall become effective upon its
adoption.
E.L. Mathews, Jr.
seconded the motion, and the'
motion was adopted. The vote on the adoption of the resolution
was as follows:
AYES:
Jonathan Barfield, Sr., Chainnan
E.L. Mathews, Jr., Vice-Chainnan
Fred Retchin
Nolan 0 I Neal
Robert G. Greer
NAYS:
None
*
*
*
*
*
-3-