2004-06-21 W&S Exhibits
NEW HANOVER COUNTY, NORTH CAROLINA
WATER AND SEWER DISTRICT
2004-05 BUDGET ORDINANCE
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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,
2004, and ending June 30, 2005, 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:
$15.241.716
Section 3: It is estimated that the following Water and Sewer District Fund revenues will
be available during the fiscal year beginning July 1, 2004, and ending June 30, 2005, 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
Appropriated Fund Balance
Total Revenues - Water and Sewer District Fund
Amount
$11,449,750
1,942,319
112,000
1.737,647
$15.241.716
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
outstandi,ng purchase orders as of June 30, 2004, 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 21 st day of June, 2004.
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William A. Caster, Chairman
Water and Sewer District
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RESOLUTION
OF THE
WATER AND SEWER DISTRICT
BOARD OF COMMISSIONERS
OF
NEW HANOVER COUNTY
WHEREAS, the Water and Sewer District of New Hanover owns certain property, Tax Parcel
ID R02611-001-003-000, Property Address 4407 Northchase Parkway NE lA, Legal Description Lot
IA Northchase Park of Commerce Section lA;
AND WHEREAS, North Carolina General Statue 160A-269 permits the District to sell property
by upset bid, after receipt of an offer for the property;
AND WHEREAS, on May 17,2004 the District Board of Commissioners adopted a resolution
authorizing the sale of the property described above through the upset bid procedures as specified in
North Carolina General Statute 160A-269;
AND WHEREAS, after the initial public notice as required pursuant to the North Carolina
General Statute 160A-269, no qualifying upset bid was received.
NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of New
Hanover County that:
I. The highest qualifying offer to purchase the property described above, submitted by
Landmark Land, Inc., in the amount of one hundred twenty-five thousand dollars
($125,000.00) is hereby granted final approval and acceptance.
2. The terms of the final sale are that:
2.1 the closing for the sale shall take place within one hundred twenty (120) days
ofthe Water and Sewer District Board of Commissioners final acceptance of the
high qualifying offer. The one hundred twenty (120) day period is the Due
Diligence Period to determine, in Buyer's sole discretion, the suitability of the
property for Buyer's intended use. Such Due Diligence shall include, but shall
not be limited to:
2.1.1 During the Due Diligence Period, Buyer shall have the right to enter
upon the Property for the purpose of performing physical inspections of
the Property to include but not be limited to environmental tests,
subsurface tests, soil borings, engineering studies, drainage
determinations, percolation tests and topographical and boundary
surveys.
2.1.2 If during the Due Diligence Period, Buyer cannot, in its sole discretion,
obtain satisfactory results from its inspection of the Property, then Buyer
shall giver Seller written notice of its intent to terminate this contract
and all deposits shall be refunded to Buyer in full and this contract shall
be terminated.
2.2 Blanket Easement:
2.2.1 The Buyer agrees to grant a blanket easement (hereinafter "Blanket
Easement") on the Property beginning on the date of closing and
terminating two (2) years from such date (hereinafter "Blanket
Easement Period"), providing access by Seller or its authorized agents
upon, across, over and under the Property for ingress, egress, replacing,
repairing and maintaining the sewer pressure mains existing on said
property.
2.2.2 Buyer and Seller agree that the Blanket Easement shall not prevent nor
deter Buyer from constructing or causing to be constructed on the
Property paved roads, driveways, parking areas or the like during or
after the Blanket Easement Period.
2.2.3 It is understood and agreed that during the Blanket Easement Period, the
maintenance of the Property is the responsibility of the Buyer, its
successors and assigns and maintenance and repair of the sewer pressure
mains located on the Property are the responsibility of Seller, its
successors and assigns. It is further understood and agreed that during
the Blanket Easement Period, property taxes of the Property are the
responsibility of the Buyer, its successors and assigns.
2.2.4 the Buyer agrees to sign a Grant of Easement document as part of the
closing of the property.
2.3 the conveyance of the property shall be by a non-warranty deed; the property
is sold in "as is" condition and the District gives no warranty with respect to
usability of the property; possession of the property shall be transferred from
District to Buyer immediately upon closing;
2.4 at closing, the Buyer will be responsible for the payment of prorated ad valorem
taxes, if any are due, for the tax year in which closing occurs;
2.5 the District shall prepare the proper deed; Buyer shall pay for recording the deed
and for preparation and recording of all other instruments, if any, incidental to
closing; and
2.6 the balance of the purchase price shall be paid by cash, cashier's check, certified
check at closing.
Adopted this 21 st day of June, 2004.
(SEAL)
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Chairman, Water and Sewer
District Board of Commissioners
ATTEST:
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