1993-11-15 RM Exhibits
A RESOLUTION APPROVING THE FILING OF AN APPLICATION WITH THE LOCAL GOVERNMENT
COMMISSION, AUTHORIZING PUBLICATION OF A NOTICE OF INTENT TO FILE APPLICATION
AND FINDING A NEED FOR PROJECTS TO BE FINANCED BY THE ISSUANCE BY THE COUNTY
OF NEW HANOVER, NORTH CAROLINA FOR GENERAL OBLIGATION BONDS CONSISTING OF
$39,900,000 BONDS AND $13,900,000 IN CAPE FEAR COMMUNITY COLLEGE BONDS.
WHEREAS, the County Commissioners of the County of New Hanover has received
from the New Hanover County School Board and Cape Fear Community College the
proposed projects to be financed with general obligation bonds of the County,
matters relating to the debt management policy and the budgetary and fiscal
management policies of the County and the estimated increase in tax rates for
the increased debt service requirements resulting from the bonds,
NOW THEREFORE, BE IT RESOLVED, by the County Commissioners of the County of New
Hanover as follows:
1. Improvements to school facilities, construction of new school
facilities, related furniture and equipment throughout the County
of New Hanover to be financed by general obligation bonds of New
Hanover County in an amount not to exceed $39,900,000 is determined
to be necessary and expedient.
2. The renovation, expansion, construction and equipping of Cape Fear
Community College facilities to be financed by general obligation
bonds of the County of New Hanover in the amount not to exceed
$13,900,000 is determined to be necessary and expedient.
3. The amount of each of the proposed bond issues is found by the New
Hanover County School Board and Cape Fear Community College
respectively to be adequate and not excessive for its purposes.
4. The debt management policies of the County of New Hanover are found
to have been carried out in strict compliance with applicable law.
5. The budgetary and fiscal management policies of the County of New
Hanover are found to be carried out in compliance with applicable
law.
6. The increase in property tax rates to pay the increased debt service
requirements resulting from the bonds is hereby found to be not
excessive.
7. The filing of an application with the Local Government Commission
for approval of the proposed bonds is hereby approved and confirmed
and the County Manager, or his designee is designated to serve as
the representative of the County in connection with the application
for approval of the bonds with the Local Government Commission and
is authorized to cause a notice of intent to file the application
to be published.
8. The County Attorney is hereby designated to employ bond counsel to
represent the County of New Hanover in the authorization and
issuance of bonds.
Resolution adopted this 15th day of November, 1993.
~~
Robert G. Greer, Chairman
New Hanover County Board of Commissioners
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N.elU Jlall0U.er <!rlluntl1
11lnarb uf Qtl1mmissinn.ern
~roclamation
WHEREAS, the vast majority of the youth are concerned,
knowledgeable and responsible citizens; and
WHEREAS, the accomplishments and achievements of the young
citizens deserve recognition and praise of the elders; and
WHEREAS, Optimist International has since 1954 developed and
promoted a program entitled Youth Appreciation Week.
NOW, THEREFORE, the New Hanover County Board of
I Commissioners hereby proclaims the week of November 14-20, 1993, as
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YOUTH APPRECIATION WEEK
in New Hanover County and encourages all citizens to join with the
Optimists in expressing appreciation and approval of the contribution of
the youth. By this action, let it be known that we have faith in the ability
of today' s youth as they assume responsible roles in the future of mankind.
Adopted this the 15th day of November, 1993.
1?P~
Robert G. Greer, Chairman
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WHEREAS, diabetes is a problem of grave concern and consequence in American
society with serious complications and effects which can be lessened through tight blood
glucose monitoring and education as recently proven through the Diabetes Control and
Complications Trials (DCCT); and
WHEREAS, more than 13 million people in America, including many people not yet
diagnosed, are affected by d.iabetes with 500,000 new cases yearly; and
WHEREAS, diabetes is a leading cause of death and a major cause of disability in
New Hanover County; and
WHEREAS, people with diabetes are more than twice as likely to requIre
hospitalization during the year; and
WHEREAS, diabetes awareness and education can lessen or prevent the complications
associated with diabetes; and
WHEREAS, through diabetes awareness and education, the person with diabetes can
gain better health, peace of mind, and an active lifestyle; and
WHEREAS, diabetes awareness and education can help persons with diabetes live
more independent and fulfilling lives;
NO~ THEREFORE, be it resolved by the New Hanover County Board of
Commissioners that the month of November 1993, is designated as National Diabetes
Month and that the Chairman is authorized to issue a proclamation calling upon the people
of New Hanover County to observe the month with appropriate ceremonies and activities.
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. !. Robert G. Greer, Chmrman ~~~-\)
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Adopted this the 15th day of November, 1993.
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NEW HANOVER COUNTY TAX COLLECTIONS
SOLLcCTIO~S TH~U 10/31/93
C UQ,R E1H T;:..'1 YEM<, _.' 1992.
AO VALO?,~M
I~OTOR. VEHICLE
~n_~~~-~~~~~.~_~~~~~w~~.~
~1't::.. .....'t;QI"',. ....1......-"~n.jft.....l"
1NPt......ll?lhItI..w,...Il.............. ....a....
ORIGINAL TAX L=VY p=~ 3C~~LL
DISCOVERI~S ADnED
LC:SS A3AT::M:::fHS
.$ 42,36(j,327.U\
3,3'16,'~'75.67
, 31,5~9.2S"
1,480,9a4.64
9,(',27.46
16,94'J.92~'
... ....-4' ........~_.v~I'I<<..,.... ,...." .......
"'.IIIIJ.......... _ ..,.......... mI_ tea.
TOT~L TAX~S CHARG~~
t 45,725,333.0_
, 1,473,071.12
ADV~RTISI~G FEES CHARG~D
LISTING PcNALTI~3 CHARGED
TOTAL L=':VY
COLL=CTIQNS TO DAT=
OUTSTANJING 3ALA~C~
PERCENTAG~ COLLECT=D
RACK TAXES
,. -
. \.. '.
16,259.,77
!M'" ..........(tt",""'..... wtI",.. ....1CI...illII'll.;
.:'C
. ;)0
LtII..an......_...c-... ...cr:......_1[P.
$ 45,7(t1,'193.37
7,333,775.37-'
... _ ....1:3..;1.._.;1.... '::1''- ~............
.t 37,9J7,81.3.C....
17.13~~
s 1,473,rn1.1i1
1 ; 0 6 G , 1 5 Z . 3 2 ..'
-..------.......-..-.....
.
~
..
412,918.86
71.97;~
....-.........---
REAL ESTAT:: AN] PERSOtiAL PROPERTY
CHAR,GE.S ADDEO
LESS ABATEM:::NTS
TOTAL TAX~S DU=
COLLECTIONS TO DATe
OUTSTANDING 3ALANCE
PERCENTAGE COLLECTED
$ 2,975,347.75
2,876.92
21,917.32....
~JDl........:............... ~.......... ....,.
t 2,956,3(.5.35
435,657.51....
.........'..."'._tlW...b,......._...' ...~
.$ 2,521,147.8,+
14.73%
OCT 1993
FISCAL YTD
..IIlt__,__.......~~.. ..............
____~...._.._._... _. MIl
1,129.25
.1):...
940,466.19
12,884.75
ROOM OCCUPANCY TAX COLLECTIONS
PRIVILEGE LICENS::: COLLECTIONS
EMS COLLECTIO/\JS
149,593.06
.OC'
TOTAL MONEY PROC=SSED THRU COLLECTION OFFIC~ FOK NEW HA~OVER COUNTY,
CITY OF WILMI~GT~Ni WRIGHTSVILL~ BEACH, C~ROLIN;:" B~ACH AND KUR~
3EACH TO CAT~ N $1 ,Q94,793.15.
THIS REPORT IS FOR FISCAL YEAR SEGINNING JULY 1, 1993.
?"CTFUll Y SUR!HTEO,
PATmlk';. ?\'iDR ~,n~v
COLL:::CTOR OF~V=NUE
DATE: __l.lI!~L9}_
8
Recommend Approva~.
CON S = tH A ~ E 'l[) A
iTEM
~w.
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NEW HANOVER COUNTY FIRE DISTRICT TAX COLLECTIONS
COLL~CTIONS THRU 10/31/93
CURr;E~IT TAX YEAo "' 1993
AD VALOREM
r., 0 T 0 ~ V E H I C L E
WI........ 11/1.!1A MII.~: ..~.,..'"".,.!.-= Wl'rl r",~ t..!~I;;'~"""ot "!.
...W\4I:".....tUI....,." Will"'" ."tc.'t C'" 0; ....
,... atlClt'I_zra ..,_.....ftGI_l&M"........
TOTAL TAXES CHtRG~~
lISTING PENALTI~5 CHARGED
TOTAL LeVY
COLLECTIJNS T8 DATE
OUTSTANQING dALANCE
PERCENTAG= COLLeCTED
BACK TAXES
t 917,r'J=J.i39
123,.;76.41
29,67: .2. 7 'f..
.... MIl N": .-0,_ G,}_llill6ll......f.........'
~ 1,;'~lC,415.03
$ 36,T?9.3?
4\..4.2',-'
55:.C'6-
ORI~INAL TAX LEVY PEo SCPOLL
DISCOVE~IcS AJDED
L :: 5 S A 8 A TE r~ t;- ;\JT S
'31...... _ .........MIII.u.....t'Y'__~
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36,633.46
.00
4'~ 2. . 33
lI:III wn-JIIIIo.....IoQ...r.-;w....~lQiJ!C' "._1>-':
. r.MIP-I..,......CJlR:I'....................
$ 1,C1:,817.36 $ 36,633.46
222,Q96.20- 27,438.73-
.....,..~ WI .....~......_........~........... 01... .... ""~,........ _... _11M ...._I:>>
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787,821.16 .$
22.C6~.':
9,194.73
7 4 . 9 0 ~;
.....".....__...._m.
REAL ESTATt ANJ PEPSO~AL PKOPEPTY $
CHARG€:S ADDED
LESS ABAT:::M::NTS
49,189.47
1,124.2~
5::, 3. ,_, :;)""
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TCT/~L TAXES ::::U:
COLLECTIONS T~ DAT::
JUTSTANDING 3ALANC=
P=RC~NTAG~ COLLECTED
t,
49,74':.4!::J
8,778.24"'
................" l".......atl .,~,
$
40,962.2:
17.657~
THIS REPORT IS FOR FISCAL YEA~ BEGINNING JULY 1, 1993.
/~SPECTFULLY SUBMITTED,
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PATRICIA J. . YNOR
CDLL~CTOR o~ ~EVENUE
CDNSENT AGf\J)A
OAT': : _11U..sj.2~_
IT f:1.\ rw. _J____
Recommend APproval'~
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EXTRACTS FROM MINUTES OF BOARD OF COMMISSIONERS
A regular meeting of the Board of Commissioners of the County of New Hanover
was held on Monday, November 15, 1993 at 9:00 a.m. in the Assembly Room of the New
Hanover County Administration Building, 320 Chestnut Street, Wilmington, North Carolina, and
the following Commissioners were present and absent:
Robert G. Greer, Chainnan
PRESENT: E.L. Mathews, Jr., Vice-01ainnan
Sandra Barone
William A. Caster
William Sisson
ABSENT:
None
The Chairman of the Board of Commissioners stated that one of the purposes of
the meeting was to approve and conrlTIll the results of the sale by the County of its $3,785,000
Special Obligation Bonds (Solid Waste management Project) Series 1993 (the "Bonds") and
authorize related acts in connection therewith. The Chainnan informed the Board that the Finance
Director had fIled with the Clerk his Certificate, dated November 4, 1993, setting forth his
determination of the details of the Bonds pursuant to the Bond Resolution adopted by the Board
on November 1, 1993.
Commissioner (';:lstp.r moved that the determinations of the Finance Director
as set forth in the Certificate be ratified, approved and conrlTIlled, as follows:
(a) The Bonds shall be issued in the aggregate principal amount of $3,785,000.
(b) The Bonds shall consist only of serial bonds. The serial bonds shall mature
and bear interest as follows:
Maturity Principal Amount Interest Rate
11/01/1994 $465,000 2.90%
11/01/1995 480,000 3.45
11/01/1996 495,000 3.75
11/01/1997 520,000 4.00
11/01/1998 540,000 4.20
11/01/1999 235,000 4.35
11/01/2000 245,000 4.50
11/01/2001 255,000 4.60
i!'
11/01/2002
11/01/2003
270,000
280,000
4.70
4.80
( c) The Bonds shall be sold to Craigie Incorporated at the purchase price of
$3,785,000.00 plus accrued interest thereon from the date thereof to the date of issuance and
delivery thereof and payment therefor. The execution and delivery by the Chairman of the Bond
Purchase Agreement, dated November 4, 1993, in accordance with the terms hereof is hereby
approved, ratified and conrlTIlled.
be $378,500.
(d) The Reserve Fund Requirement (as defmed in the Bond Resolution) shall
(e) The Board approves, conrlTIlls and consents to the distribution of the Official
Statement, dated November 4, 1993, reflecting the terms set forth herein and with such changes,
modifications and additions as the Chairman or Vice Chairman, with the advice of counsel, may
deem necessary and appropriate.
The motion was seconded by Commissioner Barone and was unanimously adopted.
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RESOLUTION APPROVING AN INSTALLMENT PURCHASE
CONTRACT AND AUTHORIZING THE EXECUTION' AND DELIVERY
OF DOCUMENTS IN CONNECTION THEREWITH
WHEREAS, there have been available at this meeting forms of
the following:
(1). A Commitment Letter from First Citizens Bank and Trust
Co. ("First Citizens") to the County dated June 16,1993 (the
"Commitment Letter");
(2). A draft of the form of Installment Purchase Contract
(the "Contract") between the County and First Citizens, County
Contract No. 94 - 0162;
(3) . A draft of the form of Deed of Trust (the "Deed of
Trust"), from the County to a trustee for the benefit of First
Citizens;
WHEREAS, by resolution duly adopted on August 2, 1993, the
installment financing of the 700 Front Street Associates parcel to
be acquired by County for the benefit of Cape Fear Community
College was approved subject to further action of the Board; and
WHEREAS, the Board desires to approve the Contract and to
authorize other actions in connection therewith;
NOW, THEREFORE, BE IT RESOLVED by the Board, as follows:
1. All actions of the County effectuating the proposed
financing are hereby approved, ratified and authorized pursuant to
and in accordance with the transactions contemplated by the
documents referred to above.
2. Each of the Commitment Letter, the Contract and the Deed
of Trust, in the form submitted to this meeting, is hereby
approved, and the Chairman of the Board, the County Manager, the
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Finance Director and the Clerk to the Board, as the case may be,
are hereby authorized and directed to execute and deliver each of
the such documents on behalf of the County, with such changes,
insertions or omissions as they may approve, their execution
thereof of constitute conclusive evidence of their approval.
3. The Chairman of the Board, the County Manager, the Clerk
to the Board, the Finance Director and the County Attorney are
hereby authorized to take and all such further action and to
execute and deliver such other documents, including without
limitation, rebate compliance agreement as may be necessary or
advisable to carry out the intent of this Resolution and to effect
the installment financing pursuant to the Contract. Without
limi ting the generality of the foregoing, the Chairman of the
Board, the County Manager, the Clerk to the Board, the Finance
Director and the County Attorney are authorized to approve all
details of the financing, including without limitation, the amount
advanced under the Contract, the annual payments under the
Contract, the interest rates with respect to such payments, the
term of the Contract. Execution of the Contract by the Chairman 9f
the Board or the County Manager, as the case may be, shall
conclusively evidence approval of all such details of the
financing.
4. This Resolution shall become effective immediately upon
its adoption.
This the /"'..4.; of
1~d
NEW HANOVER COUNTY
~M--
Chairman
, 1993.
RESOLUTION AUTHORIZING THE FILING WITH THE LOCAL GOVERNMENT
COMMISSION OF NORTH CAROLINA OF AN APPLICATION FOR THE APPROVAL
OF REFUNDING BONDS
WHEREAS, interest rates in the tax-exempt bond market are at such a level
that it is financially feasible to achieve debt service savings on several outstanding
bond issues, particularly, the 1989 Airport Bonds, the 1989 Museum Bonds, the
1990 Parks and Recreation Facilities Bonds, the 1985 Refunding Bonds, the 1989
Solid Waste Disposal Bonds, the 1990 Solid Waste Disposal Bonds, series B, and
the 1992 Solid Waste Disposal Bonds; and
WHEREAS, the County has determined to proceed with the authorization
process for the issuance of refunding bonds of the County in order to best position
itself to take advantage of any debt service savings, it being the intent of the Board
not to proceed with the refunding unless acceptable debt service savings can be
achieved; now, therefore,
BE IT RESOLVED, by the Board of Commissioners of the County of New
Hanover that:
Section 1. Andrew J. Atkinson, County Finance Director, is hereby
authorized to file an application with the Local Government Commission of North
Carolina for the approval of refunding all or a portion of the bonds of the County
listed above.
Section 2. Andrew J. Atkinson, County Finance Director, is hereby directed
to authorize LeBoeuf, Lamb, Leiby & MacRae, Bond Counsel to the County, to
commence the preparation of the documents necessary to authorize said refunding
bonds, and employ Craigie Incorporated, as financial advisor for the County for the
purpose of preparing analyses as needed in the process.
Section 3. The proposed refunding bonds shall not be issued unless the
County is able to achieve acceptable present value debt service savings.
Section 4. The Clerk to the Board of Commissioners is hereby directed to
send a certified copy of this resolution to the Secretary of the Local Government
Commission of North Carolina.
Section 5. This resolution shall take effect upon its passage.
Section 6. This resolution was adopted this 19th day of November 1993.
~,U~
Robert G. Greer, Chairman
.'r~%t'.. E
j ~,of3cOmmissioners' of'the'.County;ot,
~.~ew' Hanover. as follows: . j!
?~:'~;"" ! \\~::~\:1
~i'1>.,:Seclion 1 The Board of Com:'!
,'missioner;s.of the County has ascer'.)
. ',teined and hereby determines than
i 'iis.a to pay and refund all or. a.
e Outstilnding, Bo~s,;,;;;i
. ,S8ction 2. In ordertor~"th~;
'nory':required 'to refund 'the. Out;'~ affidavit with the advertisement thereto annexed it is adjudbed by the Court that the said publication was duly and properly
and'ngBonds as set forth above,'. in', bee did I II ed h d ~ d ()
qdilion.,to,any funds which.maybe;, n u Y an ega Y serv on tee en ant s
[:made avadable for such' 'purposil
}t: ,;J~m_'ariy.other source, bonds~o" the,"
I, County.are . hereby authorized and
'.' , sh8Jlbeissued pursuan1to The Local
: 1'Govemment .Flnance Act of North.
J -,Carolina, The maximum .aggl'8\late
: pnoopal amount of bonds aulhonzed .
.; "by ,this' .bond order shall be,
; ~ } $17.000.000.
i :".,,,. ',S8ction 3, A tax sufficient to pay
.t(1e principal of and interest.on said
" "bonds, when due shall be annually
i~~viB<1and collected,
:; (",! S8ction 4, A sworn statement of
, 'the County's debt has been mea with
, ;the CI.nk to the Board and is open to
,;.P~.bliC inspection,
,~" .,
1;,lo"l,Se<:tion5. This bond order shall
..!eke effect upon its adoPtion,
).1 ~\' _ ";
JI{J' j." The foregoing bo~ order has
-.~...';~,.............. ...-...... _..~- ~_..-
STATE OF NORTH CAROLINA,
COUNTY OF NEW HANOVER
NbTICEOFjP~BtiC!H' "
;;"!i:.;"":BONDtORDE
". ~ f;,At:1THORIZING(TBE
ISSUANCE'bF~$17iOOO.OOO
GENERAL OBLIGATION .;'1
REFUNDING BONDS OF'''';i~
THE COUNTY OF ,.\[
NEW HANOVER'; ,- "1;{~
\l~%
.' WHEREAS, the County,ot.New;
"Hai1Over (lhil"cOu.',nty"j' has'iSSued.l
.and ..outstanding Palf<aand?Reae""
"atioi'laJ"Faciliti8s'BondS', .i:lai8cn~
,vember 1, 1990, Jmaturingdri:\Ili8l
Il~ ~~taJs~sive"(the;
"ationaJ. Faci"PIli9s;Bonds");.
!.~,"':'lfh ',i~', ' +., " !, -; ,~:. , "l",',_!
\il,,,,';,"WHEREAS,,the County,has IS,."
'!sued' and' outslandin'g Musauni}
~BOi1OS,' detecfSeptember1;1989;ld
',malunng,In the years.1994,1o 2007'1'
'iinclus,ive'(~,"Outetendiilg'1989Mu~,
j~:(~:~~;~'~un:;'~~;
.,su9cfanej C?utetending~rport Bonds;;
.'dated;July'.1 ;M 989:! maturing .in' the.
'1y'!!8rs ,1994;.to,'.2009~~:inclUSlV8 '(lh8,
:'OutstendinQ"1 ~'Ai~'Bonds:'l;!
~:~?~' '~"'.' ':' '" ""~'~" ," , ''",'\'~:
. ' iiWHEREASiftheCouriiY'h~'iS~!
: and ,OutetendingiGeneral:,ObIi!',
n .'Rllfunding<iBOnds;.'iSerie~1i
.. dated, Deceinbeii1';:,1985,';ma:1
in, the!leaiS '1994'102002" inljl,
, ;;(the"OulSteildingc..1985!iRO.!:"
'til d".80 nds.... "j".'and...' .'...'.'........,.. "., '..'.":.'."1
.'- n InQti1" ":;_"',',,, ':;~~ .~' ; '.!;'~1;
: HEREAS;' the Board of Com,0
'Ii . erB ot'Cthe"Ci)unty' deemS:i"~
l:.~i~.tO)PaY,'and'refu')d;all:O'ia'!
po. rtion' 'Ok,...the ,OutstandIng :,1990\
e:Pllrki(iand: !RilCreational, !Facililies!
~Bonds, ,the iOutetendirjg ,,1989.Muse-'
" u'!', Bonds,,,theOulstaiKling:1989'Aif,1
iportB6~and.th,e 0!Jtstei\d.ing1985:
'R~ iBonds;:(collaclivlllnth8;
t~diin,,~~l\i;i'~rl';tO';:
\.GoVem'memiFiriahce'Acl;'ana.
.' '. '<"'~>~;~,ib-" ".j~~g~! -r(~4
Ef:jEAS;;B1i'iiPPr -
"NiththS', .
vernment.,
. " . II
AFFIDAVIT OF PUBLICATION
Before the undersigned, a Notary Public of said County and State,
JAC0.88RINSON
who, being duly sworn or affirmed, according to the law, says that he/she is
CLASSIFIED ADVERTISING ~ANAGER
ofTHE WILMINGTON STAR-NEWS, INC., a corporation organized and doing business under the
Laws of the State of North Carolina, and publishing a newspaper known as WILMINGTON
MORNING STAR & SUNDAY STAR.NEWS in the City of Wilmington
NOTICE OF PUBLI'C ffEARING.@~aOND
OROERAUTHORIZING THEISSUANCE
DF$17,OOO,OOOGENERAl DELTGATI
i17,OOO,QOOREF
was inserted in the aforesaid newspaper in space, and on dates as follows:
11/22..1X
1993
and at the time of such publication Wilmington Star-News was a newspaper meeting all the
requirements and qualifications prescribed by Sec. No. 1-597 G S. of N C.
~l'~~SSIFIED ADV.
Title 23RD
Sworn or affirmed to, and subscribed before me, this
MGR
day
ofNOV , A.D , 19 '93
In Testimony Whereof, I have hereunto set my hand and affixed my official seal, the day and
year aforesaid.
t/77ar>t. AJ~b1k
My commission expires
21
day of
JUNE, 19 94
',19_
Clerk of Superior Court
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NOTICE OF PUBLIC HEARING
"BOND ORDER AUTHORIZING THE ISSUANCE OF
$17,000,000 GENERAL OBLIGATION REFUNDING BONDS OF
THE COUNTY OF NEW HANOVER"
WHEREAS, the County of New Hanover (the "County") has
issued and outstanding Parks and Recreational Facilities Bonds,
dated November 1, 1990, maturing in the years 1994 to 2007,
inclusive (the "Outstanding 1990 Parks and Recreational
Facilities Bonds"); and
WHEREAS, the County has issued and outstanding Museum
Bonds, dated September 1, 1989, maturing in the years 1994 to
2007, inclusive (the "outstanding 1989 Museum Bonds"); and
WHEREAS, the County has issued and outstanding Airport
Bonds, dated July 1, 1989, maturing in the years 1994 to 2009,
inclusive (the "outstanding 1989 Airport Bonds"); and
WHEREAS, the County has issued and outstanding General
Obligation Refunding Bonds, Series 1985, dated December 1, 1985,
maturing in the years 1994 to 2002, inclusive (the "Outstanding
1985 Refunding Bonds"); and
WHEREAS, the Board of Commissioners of the County deems
it advisable to pay and refund all or a portion of the
outstanding 1990 Parks and Recreational Facilities Bonds, the
outstanding 1989 Museum Bonds, the Outstanding 1989 Airport Bonds
and the outstanding 1985 Refunding Bonds (collectively, the
"outstanding Bonds") pursuant to and in accordance with The Local
Government Finance Act; and
1
. ,,- 1,
WHEREAS, an application has been filed with the
Secretary of the Local Government Commission of North Carolina
requesting commission approval of the Bonds hereinafter described
as required by The Local Government Finance Act, and the
Secretary of the Local Government Commission has notified the
Board that the application has been accepted for submission to
the Local Government Commission; NOW, THEREFORE,
BE IT ORDERED by the Board of Commissioners of the
County of New Hanover, as follows:
section 1. The Board of Commissioners of the County
has ascertained and hereby determines that it is advisable to, pay
and refund all or a portion of the Outstanding Bonds~
section 2. In order to raise the money required to
refund the Outstanding Bonds as set forth above, in addition to
any funds which may be made available for such purpose from any
other source, bonds of the County are hereby authorized and shall
be issued pursuant to The Local Government Finance Act of North
Carolina. The maximum aggregate principal amount of bonds
authorized by this bond order shall be $17,000,000.
Section 3. .A-tax sufficient to pay the principal of
and interest on said bonds when due shall be annually levied and
collected.
Section 4. A sworn statement of the County's debt has
been filed with the Clerk to the Board and is open to public
inspection.
-2-
,
1 .
I : 't,
section 5. This bond order shall take effect upon its
adoption.
The foregoing bond order has been introduced and a
sworn statement of debt has been filed under The Local Government
Bond Act showing the appraised value of the County of New Hanover
to be $7,S?'9:774,14R
and the net debt thereof, including the
proposed bonds, to be $61,331 ,OS2
A tax will be levied to
pay the principal of and interest on the bonds if they are
issued. Anyone who wishes to be heard on the questions of the
validity of the bond order and the advisability of issuing the
bonds may appear at a public hearing or an adjournment thereof to
be held at 320 Chestnut street - Room 100
, in Wilmington,
North Carolina at ~ o'clock, y.M., on the 6th day of December,
1993.
Lucie F. Harrell
Clerk to the Board of
Commissioners of the
County of New Hanover
-3-
-:" .
. .
STATE OF NORTH CAROLINA
ss.:
COUNTY OF NEW HANOVER )
I, LUCIE F. HARRELL, Clerk to the Board of
commissioners of the County of New Hanover, in the State of North
Carolina, DO HEREBY CERTIFY that I have compared the attached
copy of the debt statement with the original debt statement filed
by the Finance Officer of said County in the office of said Clerk
on the /7Z0 day of November, 1993 and that said copy is a true
copy of said statement and of the whole thereof.
I FURTHER CERTIFY that said debt statement was filed by
said Finance Officer on said last-mentioned date and has since it
was so filed remained on file in the office of said Clerk and has
been kept open to pUblic inspection.
IN WITNESS WHEREOF, I have hereunto set my hand and
have affixed the corporate seal of said County, this 6th day of
December, 1993.
(
STATEMENT OF DEBT OF THE COUNTY OF NEW HANOVER, NORTH CAROLINA,
MADE AND FILED PURSUANT TO SECTION 159-55 OF THE LOCAL GOVERNMENT
FINANCE ACT, AFTER THE INTRODUCTION OF THE BOND ORDERS
AUTHORIZING THE ISSUANCE OF $47,000,000 BONDS, INTRODUCED AT A
MEETING OF THE GOVERNING BODY OF SAID COUNTY, HELD ON THE 19TH
DAY OF NOVEMBER, 1993.
(a) Appraised value of property
subject to taxation as
certified by the County
Assessor.
$ 7."i?Q.774,14R
(b) Gross debt as listed in the
attached "Schedule of Gross Debt."
$ 111,831,052
(c) Deductions to be made from Gross
Debt as listed in the attached
"Schedule of Deductions."
$ 47.000.000
(d) Net debt (being the difference
between the Gross Debt and
Deductions).
$ 64.831.052
(e) Percentage that net debt bears
to the appraised value of
property subject to taxation.
0_ Rfi1
!!,
o
Finan~~
County of New Hanover
Dated:
1/--11/-9J
SCHEDULE OF GROSS DEBT
(The debt described below should not include debt incurred
or to be incurred in anticipation of the collection of taxes
or other revenues or in anticipation of the sale of bonds
other than funding and refunding bonds. The debt described
below should not include revenue bonds.)
A. Bonds authorized by orders introduced but not yet
adopted:
Purpose
Amount
General Obligation
Refunding Bonds
General Obligation
Refunding Bonds
$17,000,000
30,000,000
Total $ 47.000.000
B. Unissued bonds authorized by adopted orders:
Purpose
Amount
$
Total $
c. Outstanding debt not evidenced by bonds:
Source of Debt
Purpose
Amount
see attached list
Total $ 6,266,052
D. Outstanding debt evidenced by bonds:
Date of Bonds
Purpose
Amount
$
see attached list
Total $ 58,565.000
Total $ 111 R~1 OS?
SCHEDULE OF DEDUCTIONS
(A) Funding and refunding bonds authorized by
orders introduced but not yet adopted.
$ 47,000,000
(B) Funding and refunding bonds authorized
but not issued. $
(C) Amount held in sinking funds or otherwise
for the payment of gross debt other than
debt incurred for water, gas, electric
light or power purposes or sanitary sewer
purposes (to the extent deductible under
section 159-55(b) of The Local Government
Finance Act.) $
(D) Bonded debt included in gross debt and
incurred or to be incurred for water,
gas or electric light or power purposes. $
(E) Bonded debt included in gross debt and in-
curred or to be incurred for sanitary sewer
system purposes (to the extent deductible
by subsection (b) of section 159-55 of
The Local Government Finance Act). $
(F) Uncollected special assessments levied or
to be levied for local improvements for
which gross debt was or is to be incurred,
to the extent to be applied to the pay-
ment of such gross debt. $
(G) Estimate of special assessments to be
levied for local improvements for which
any part of gross debt (that is not other-
wise deducted) was or is to be incurred,
to the extent that the special assess-
ments, when collected, will be applied
to the payment of any part of gross
debt. $
Total
$ 47.000.000
STATE OF NORTH eAROLINA
55. :
eOUNTY OF NEW HANOVER )
ANDREW J: ATKINSON, being duly sworn, says that he is
the Finance Officer of the eounty of New Hanover, in the State of
North earolina; that by a resolution passed by the Governing
Board thereof he was authorized to make the foregoing statement;
and that the foregoing statement is true and was made and
subscribed by him after the introduction of the order referred to
in the heading of said statement.
~~~
Finance otficer ,
Sworn to and subscribed before
me on the day of the date of
said statement.
~ ]v{ 111\~.. _L Afr
Notary pub~-
My eommission expires the )7~hday of
ss. :
""'""""
..,,\\'~. MARY;tI, """
"G~ ......... (?~ "
~.... ~v ... ... If! ~
.. . "r' .. '. :t;. ~
-~ - . ~
: ... ..lOTAR\_ \ ;
_ .,~ r._
- . . -
~~;;~0C .i ~'ffi-9q6.
-. . ~...
- '.L... . .....
~ ~ ... .... ~"'.:-
, .,(, '0 " ..:~ ....
',,'01~ ....... ~\' ,...'"
"1 OilER CO \\"
III", .-" II"~'"~
STATE OF NORTH eAROLINA
COUNTY OF NEW HANOVER
I, the undersigned elerk to the Board of eommissioners
of the County of New Hanover, in the State of North earolina, DO
HEREBY CERTIFY that the foregoing statement and accompanying
affidavit were filed in my office on the ~day of November,
1993-i' after the introduction of the order referred to in the
heading of said statement.
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the seal of said County, this /t~,day of November, 1993.
~ ~v/ .,
Cl rk l-o the ~
Comm'ssioners of
the eounty of New Hanover
Date 11/18/93
Time 12:28:58
Date of Issue
12/01/1968
11/01/1974
04/01/1975
06/01/1976
12/01/1985
12/01/1985
12/01/1985
12/01/1985
12/01/1985
07/01/1989
07/01/1989
09/01/1989
11/01/1990
12/01/1990
12/01/1990
08/01/1992
03/01/1993
11- q,3
NEW HANOVER COUNTY, NC
Page
LON G - T E R M DEB T B Y I S SUE
Bonded Debt for Groups 00 - 07 as of 10/31/1993
Based on Date Paid Accounts 0000000000000000 - 9999999999999999
Description
Principal Balance
SCHOOL BLDG
TECHNICAL INSTITUTE
SCHOOL
PUBLIC HOSPITAL
REFUNDING
REFUNDING
REFUNDING
REFUNDING
REFUNDING
Airport Bonds, 1989
Solid.Waste Disposal, 1989
Musel.lll Bonds
PARKS & RECREATIONAL FAC BDS
SOLID WASTE DISPOSAL- SERIES B
SOLID WASTE DISPOSAL- SERIES A
SOLID WASTE DISPOSAL
G/O SCHOOL REFUNDING BONDS
SCHOOL BLDG
CFTI CAPE FEAR COHM. COLLEGE
SCHOOLS
(NHMH)
STEAM PLANT PORTION
LANDFI LL PORTION
SCHOOLS
OLD COURTHOUSE
A & E
Airport Terminal Development
Resource Recovery Series 1989
Musel.lll Bonds
PARKS AND REC BOND
SERIES 1990B- TAX EXEMPT
SERIES 1990A- TAXABLE
SOLID WASTE, SERIES 1992
G/O SCHOOL REFUNDING, 1993
440,000.00
1,050,000.00
1,700,000.00
2,960,000.00
2,791,667.00
558,334.00
3,967,855.00
937,860.00
144,284.00
1,650,000.00
21,530,000.00
3,750,000.00
4,400,000.00
1,170,000.00
1,980,000.00
995,000.00
5,040,000.00
Total
55,065,000.00
$fCC/fflv OI1LJG-fmON /J,onds (/ Fir)
3,S'OO,ooo
~
r;-81S't:,~, 000
Date 11/18/93
Time 12:29:49
Date of Issue
04/24/1989
08/08/1989
06/24/1991
06/24/1991
08/23/1991
01/01/1992
08/12/1991
10/22/1991
01/01/1992
03/23/1992
04/07/1992
07/13/1992
09/01/1992
10/01/1992
11/01/1992
12/01/1992
12/14/1992
01/01/1993
06/25/1993
06/25/1993
04/01/1993
NEW HANOVER COUNTY, NC
Page
LON G - T E R M 0 E B T B Y I S SUE
Installment Debt for Groups 00 - 07 as of 10/31/1993
Based on Date Paid Accounts 0000000000000000 - 9999999999999999
Description
New Hanover Memorial Hospital
Social Services Building
FUNB 9110007-003
Funb 9110007-002
FUNB 9110007-004
FUNB 9110007-007
FUNB 9110007-005
FUNB 9110007-006
FUNB 9110007-009
FUNB 9110007-010
FUNB 9110007-011
FUNB 9210018-001
IBM CORPORATION
IBM CORPORATION
I BM CORPORATION
IBM CORPORATION
FUNB 9210034-001
I BM CORPORATION
FUNB 9110007-014
FUNB 9110007-013
FUNB 9110007-012
Principal Balance
NHMH N/P
DSS Building Purchase
EMS Ambulances
MIS Computer Equipment
Health Dept. Computer System
CATERPILLAR BULLDOZER
VSE/SP V4 Software Upgrade
WICAT LEARNING LABS FOR SCHOOL
HEALTH DEPT. COMPUTER SYSTEM
1991 GMC GAS SUBURBAN
(2) 1992 TYPE III AMBULANCES
LAW ENFORCEMENT CTR EXPANSION
DSS COMPUTER SYSTEM-HARDWARE
DSS COMPUTER SYSTEM-FEATURES
DSS COMPUTER SYSTEM-SOFTWARE
DSS COMPUTER SYSTEM
MYRTLE GROVE BRANCH LIBRARY
IBM MAINFRAME COMPUTER EQUIP
LIBRARY AUTOMATION SYSTEM
HEALTH DEPT TELEPHONE SYSTEM
1993 CHEVROLET SUBURBAN
300,000.00
3,000,149.60
112,823.08
15,220.47
3,015.42
149,193.25
9,890.11
34,364.15
78,754.75
19,828.57
67,721.52
580,735.87
123,574.74
13,803.05
29,936.12
11,744.91
380,038.08
1,023,111.50
172,786.00
120,817.56
18,543.17
Total
6,266,051.92
_/ ..",,- /
STATE OF NORTH CAROLINA )
: 58.:
COUNTY OF NEW HANOVER )
I, LUCIE F. HARRELL, Clerk to the Board of
commissioners of the County of New Hanover, DO HEREBY CERTIFY, as
follows:
A /7r~)
Commissioners of the County of New Hanover, located in the State
1.
meeting of the Board of
of North Carolina, was duly held on November 19, 1993, proper
notice of such meeting having been given as required by North
Carolina statutes, and minutes of said meeting have been duly
recorded in the Minute Book kept by me in accordance with law for
the purpose of recording the minutes of said Board.
2. I have compared the attached extract with said
minutes so recorded and said extract is a true copy of said
minutes and of the whole thereof insofar as said minutes relate
to matters referred to in said extract.
3. Said minutes correctly state the time when said
meeting was convened and the place where such meeting was held
and the members of said Board who attended said meeting.
IN WITNESS WHEREOF, I have hereunto set my hand and
have hereunto affixed the corporate seal of said County, this
~ day of November, 1993.
~
Various Governmental
Purpose Refunding
EXTRACTS FROM MINUTES OF BOARD OF COMMISSIONERS
A regular meeting of the Board of Cormnissioners of the County of
New Hanover was held on Friday, November 19, 1993 at 10:00 a.m. in Room
501 of the New Hanover County Administration Building, 320 Olestnut street,
Wilmington, North Carolina, and the following Cormnissioners were present
and absent:
PRESENT:
Robert G. Greer, Olairman
E.L. Mathews, Jr., Vice-Olairman
Sandra Barone
William A. Caster
ABSENT:
William Sisson
*
*
*
*
*
*
*
Cbmmissioner CBster
introduced the following bond
order which was read at length:
"BOND ORDER AUTHORIZING THE ISSUANCE OF
$17,000,000 GENERAL OBLIGATION REFUNDING BONDS OF
THE COUNTY OF NEW HANOVER II
WHEREAS, the County of New Hanover (the "County") has
issued and outstanding Parks and Recreational Facilities Bonds,
dated November 1, 1990, maturing in the years 1994 to 2007,
inclusive (the "outstanding 1990 Parks and Recreational
Facilities Bonds"); and
WHEREAS, the County has issued and outstanding Museum
Bonds, dated September 1, 1989, maturing in the years 1994 to
2007, inclusive (the "Outstanding 1989 Museum Bonds"); and
WHEREAS, the County has issued and outstanding Airport
Bonds, dated July 1, 1989, maturing in the years 1994 to 2009,
inclusive (the "Outstanding 1989 Airport Bonds"); and
WHEREAS, the County has issued and outstanding General
Obligation Refunding Bonds, Series 1985, dated December 1, 1985,
maturing in the years 1994 to 2002, inclusive (the "Outstanding
1985 Refunding Bonds"); and
WHEREAS, the Board of commissioners of the County deems
it advisable to pay and refund all or a portion of the
Outstanding 1990 Parks and Recreational Facilities Bonds, the
Outstanding 1989 Museum Bonds, the Outstanding 1989 Airport Bonds
and the Outstanding 1985 Refunding Bonds (collectively, the
"outstanding Bonds") pursuant to and in accordance with The Local
Government Finance Act; and
WHEREAS, an application has been filed with the
Secretary of the Local Government Commission of North Carolina
-2-
requesting commission approval of the Bonds hereinafter described
as required by The Local Government Finance Act, and the
Secretary of the Local Government Commission has notified the
Board that the application has been accepted for submission to
the Local Government Commission; NOW, THEREFORE,
BE IT ORDERED by the Board of Commissioners of the
County of New Hanover, as follows:
section 1. The Board of commissioners of the County
has ascertained and hereby determines that it is advisable to pay
and refund all or a portion of the Outstanding Bonds.
Section 2. In order to raise the money required to
refund the Outstanding Bonds as set forth above, in addition to
any funds which may be made available for such purpose from any
other source, bonds of the County are hereby authorized and shall
be issued pursuant to The Local Government Finance Act of North
Carolina. The maximum aggregate principal amount of bonds
authorized by this bond order shall be $17,000,000.
Section 3. A tax sufficient to pay the principal of
and interest on said bonds when due shall be annually levied and
collected.
Section 4. A sworn statement of the County's debt has
been filed with the Clerk to the Board and is open to public
inspection.
Section 5. This bond order shall take effect upon its
adoption.
Cormnissioner Barone
following resolution:
moved the adoption of the
-3-
WHEREAS, the bond order entitled, "BOND ORDER
AUTHORIZING THE ISSUANCE OF $17,000,000 GENERAL OBLIGATION
REFUNDING BONDS OF THE COUNTY OF NEW HANOVER," has been
introduced at the meeting of the Board of Commissioners of the
County of New Hanover held on November 19, 1993 and the Board of
Commissioners of the County of New Hanover desires to provide for
the holding of a public hearing thereon and the submission of a
statement of debt in connection therewith as required by The
Local Government Bond Act; NOW, THEREFORE,
BE IT RESOLVED by the Board of Commissioners of the
County of New Hanover, as follows:
(1) The public hearing upon said bond order shall be
held on the 6th day of December, 1993 at ~ o'clock ~.M., at
320 Chestnut str~~t, Room 100
Carolina.
, in Wilmington, North
(2) The Clerk to the Board is hereby directed to cause
a copy of the bond order to be published with a notice of such
hearing in the form prescribed by law in a qualified newspaper no
fewer than six days prior to such public hearing.
(3) The County's Finance Officer is hereby directed to
file with the Clerk prior to publication of the bond order with
the notice of such public hearing, a statement setting forth the
debt incurred or to be incurred, the appraised value of property
subject to taxation by the County and the net debt of the County.
-4-
The motion was seconded by Cormnissioner Mathews
and
was adopted by the following vote:
Robert G. Greer, Chairman
* AYES: E.L. Mathews, Jr., Vice-Chairman
Sandra Barone
William A. Caster
NAYS: None
* Cormnissioner Sisson absent
*
*
*
*
*
-5-
AFFIDAVIT OF PUBLICATION
miSliioi1enl,ol
lainedilind"I1erel)Y,idel8mli
tisladvisable to pay andnihi
I ~:,"~\:~'~,. it with th.e advertisement thereto annexed it is adjudged by the Court that the said publication was duly and properly
d money reqiJiredlO refund the.Out d I I d f
ma standingSolidWasmDisi>o:s&!..' ulyan egal y served on the e endant(s)
las set forlh above, '1'1 addilion'lO
funds whlclUilay' be made aval . '.
for suchpurpose'.1rom any other;;~'
Th.source, bonds of the Countvare".'...... 19
IS h8nlbY authoriz8d and shall be 'is"~,'. -
sued rsuant to The Local Gov8m,;;~"i
ment'~nance Act ol.North CaroIirui!';1r'
.;~~m~~~ . ..$
li,~:~;~:~i~
. .the;iprinClpaJ'oI,and'I~'on"
" bonds'"when due ,shalibe ~.
.1eyied1anc:l'coIlectec1. '.
,\." . "'~'
,,,.'S8ction4.AsWomstal 0~"J'
the County's debt hasbe8n filedrwitliJjlf"
the Cieri< to the Board and os open~.,~:
P':IbhC..~~.. ' ,~~j}~t!~,'i\~'
Section 5..This bond order .,'\
lake effect upon. its adoption.. "
.' ,'.". ,: '"
. The foregoing bond Order~",
been introduced and. 8' sworn state:. \.
~ ,o.!_~~~~'fi~_:~~<:;"'~
STATE OF NORTH CAROLINA,
COUNTY OF NEW HANOVER
.iNOliICE "OF'PUBllIC!H'R1NG'ot1
;;'1\. "I' ':BoND.ORDE
"I'; iAUTHORIZING,.,..
"r'iSsUANCEOF ,$3Q.... , .'
<i:iI'::'.GENERAt'OBLlGA TlON:',;:
REFUNDING BONDS OF '.
THE COUNTY OF ....
NEW HANOVER"
Before the undersigned, a Notary Public of said County and State,
JAC08 BR:INSON
who, being duly sworn or affirmed, according to the law, says that he/she is
CLASSIFIED ADVERTISING MANAGER
of THE WILMINGTON STAR-NEWS, INC., a corporation organized and doing business under the
Laws of the State of North Carolina, and publishing a newspaper known as WILMINGTON
MORNING STAR & SUNDAY STAR-NEWS in the City of Wilmington
NOTICE OF PUBlIC HEARING;aBONC
ORDERAUTflORIZING THEISSUANCE
OF $30.000.. OOOGENERAL DEL IGA TI
$30..000.,000 REf
was inserted in the aforesaid newspaper in space, and on dates as follows:
11/22.1X
1993
and at the time of such publication Wilmington Star-News was a newspaper meeting all the
requirements and qualifications prescribed by Sec. No. 1-597 G.S. of N C.
~~~./6~~/
CLASSIFIED ADV. MGR
Title 2 3R 0
Sworn or affirmed to, and subscribed before me, this day
NdQV 93
of , A.D., 19_
In Testimony Whereof, I have hereunto set my hand and affixed my official seal, the day and
year aforesaid.
7?1~. LY~
My commission expires
21
day of JUNE ,1994
Clerk of Superior Court
\
f\
\,
NOTICE OF PUBLIC HEARING
"BOND ORDER AUTHORIZING THE ISSUANCE OF
$30,000,000 GENERAL OBLIGATION REFUNDING BONDS OF
THE COUNTY OF NEW HANOVER"
WHEREAS, the County of New Hanover (the "County") has
issued and outstanding General Obligation Refunding Bonds, dated
December 1, 1985, maturing in the years 1994 to 2002, inclusive
(the "Outstanding 1985 Refunding Bonds"); and
WHEREAS, the County has issued and outstanding Solid
Waste Disposal Bonds, dated July 1, 1989, maturing in the years
1994 to 2009, inclusive (the "Outstanding 1989 Solid Waste
Disposal Bonds"); and
WHEREAS, the County has issued and outstanding Solid
Waste Disposal Bonds, Series 1990B, dated December 1, 1990,
maturing in the years 1994 to 2011, inclusive (the "Outstanding
1990 Solid Waste Disposal Bonds"); and
WHEREAS, the County has issued and outstanding Solid
Waste Disposal Bonds, Series 1992, dated August 1, 1992, maturing
in the years 1994 to 2013, inclusive (the "Outstanding 1992 Solid
, ---Wa'st~- Disp'osalBonds");- cfJid . -
WHEREAS, the Board of Commissioners of the County deems
it advisable to pay and refund all or a portion of the
Outstanding 1985 Refunding Bonds, the Outstanding 1989 Solid
Waste Disposal Bonds, the outstanding 1990 Solid Waste Disposal
Bonds and the Outstanding 1992 Solid Waste Disposal Bonds
(collectively, the "Outstanding Solid Waste Disposal Bonds")
, ,
! 1) .
,.'
pursuant to and in accordance with The Local Government Finance
Act; and
WHEREAS, an application has been filed with the
Secretary of the Local Government Commission of North Carolina
requesting Commission approval of the Bonds hereinafter described
as required by The Local Government Finance Act, and the
Secretary of the Local Government Commission has notified the
Board that the application has been accepted for submission to
the Local Government Commission; NOW, THEREFORE,
BE IT ORDERED by the Board of Commissioners of the
County of New Hanover, as follows:
section 1. The Board of Commissioners of the County
has ascertained and hereby determines that it is advisable to pay
and refund all or a portion of the Outstanding Solid Waste
Disposal Bonds.
section 2. In order to raise the money required to
refund the Outstanding Solid Waste Disposal Bonds as set forth
above, in addition to any funds which may be made available for
such purpose from any other source, bonds of the County are
hereby a\!t::h9r.izeQ .,and_,shall._be_ issued pursuant to The Local''-'
Government Finance Act of North Carolina. The maximum aggregate
principal amount of bonds authorized by this bond order shall be
$30,000,000.
Section 3. A tax sufficient to pay the principal of
and interest on said bonds when due shall be annually levied and
collected.
-2-
..
.... ~
Section 4. A sworn statement of the County's debt has
been filed with the Clerk to the Board and is open to public
inspection.
section 5. This bond order shall take effect upon its
adoption.
The foregoing bond order has been introduced and a
sworn statement of debt has been filed under The Local Government
Bond Act showing the appraised value of the County of New Hanover
to be $ 7, 529, 774, 1 48
and the net debt thereof, including the
proposed bonds, to be $ 61 331 052
, ,
A tax will be levied to
pay the principal of and interest on the bonds if they are
issued. Anyone who wishes to be heard on the questions of the
validity of the bond order and the advisability of issuing the
bonds may appear at a public hearing or an adjournment thereof to
be held at 320 Ch~stnnt street - RCX)ffi 100
, in wilmington,
North Carolina at~ o'clock, ~.M., on the 6th day of
December, 1993.
Lucie F. Harrell
Clerk to the Board of
Commissioners of the
County of New Hanover
-3-
STATE OF NORTH CAROLINA
ss. :
COUNTY OF NEW HANOVER
I, LUCIE F. HARRELL, Clerk to the Board of
commissioners of the County of New Hanover, in the state of North
Carolina, DO HEREBY CERTIFY that I have compared the attached
copy of the debt statement with the original debt statement filed
by the Finance Officer of said County in the office of said Clerk
on the /?~ day of November, 1993 and that said copy is a true
,
copy of said statement and of the whole thereof.
I FURTHER CERTIFY that said debt statement was filed by
said Finance Officer on said last-mentioned date and has since it
was so filed remained on file in the office of said Clerk and has
been kept open to public inspection.
IN WITNESS WHEREOF, I have hereunto set my hand and
have affixed the corporate seal of said County, this 6th day of
December, 1993.
~,\:/ xLA-
Cl r~ t<:>-the Board of
Co 1SS1oners of the
County of New Hanover
STATEMENT OF DEBT OF THE COUNTY OF NEW HANOVER, NORTH CAROLINA,
MADE AND FILED PURSUANT TO SECTION 159-55 OF THE LOCAL GOVERNMENT
FINANCE ACT, AFTER THE INTRODUCTION OF THE BOND ORDERS
AUTHORIZING THE ISSUANCE OF $47,000,000 BONDS, INTRODUCED AT A
MEETING OF THE GOVERNING BODY OF SAID COUNTY, HELD ON THE 19TH
DAY OF NOVEMBER, 1993.
(a) Appraised value of property
subject to taxation as
certified by the County
Assessor.
$ 7.t;?Q,774/14R
(b) Gross debt as listed in the
attached "Schedule of Gross Debt."
$ 111,831,052
(c) Deductions to be made from Gross
Debt as listed in the attached
"Schedule of Deductions."
$ 47.00,0.000
(d) Net debt (being the difference
between the Gross Debt and
Deductions).
$ 64,831,052
(e) Percentage that net debt bears
to the appraised value of
property subject to taxation.
0_ R61
~
o
Dated:
1/-/9-fi-!
'"
SCHEDULE OF GROSS DEBT
(The debt described below should not include debt incurred
or to be incurred in anticipation of the collection of taxes
or other revenues or in anticipation of the sale of bonds
other than funding and refunding bonds. The debt described
below should not include revenue bonds.)
A. Bonds authorized by orders introduced but not yet
adopted:
Purpose
Amount
General Obligation
Refunding Bonds
General Obligation
Refunding Bonds
$17,000,000
30,000,000
Total $ 47,000,000
B. Unissued bonds authorized by adopted orders:
Purpose
Amount
$
Total $
c. Outstanding debt not evidenced by bonds:
Source of Debt
Purpose
Amount
see attached list
Total $ 6,266,052
D. Outstanding debt evidenced by bonds:
Date of Bonds
Purpose
Amount
$
see attached list
Total $ 58,565,000
Total $ 111.R11.0S?
(D)
(E)
(F)
(G)
SCHEDULE OF DEDUCTIONS
(A) Funding and refunding bonds authorized by
orders introduced but not yet adopted.
(B)
Funding and refunding bonds authorized
but not issued.
(C)
Amount held in sinking funds or otherwise
for the payment of gross debt other than
debt incurred for water, gas, electric
light or power purposes or sanitary sewer
purposes (to the extent deductible under
section 159-55(b) of The Local Government
Finance Act.)
Bonded debt included in gross debt and
incurred or to be incurred for water,
gas or electric light or power purposes.
Bonded debt included in gross debt and in-
curred or to be incurred for sanitary sewer
system purposes (to the extent deductible
by subsection (b) of section 159-55 of
The Local Government Finance Act).
Uncollected special assessments levied or
to be levied for local improvements for
which gross debt was or is to be incurred,
to the extent to be applied to the pay-
ment of such gross debt.
Estimate of special assessments to be
levied for local improvements for which
any part of gross debt (that is not other-
wise deducted) was or is to be incurred,
to the extent -that the special assess-
ments, when collected, will be applied
to the payment of any part of gross
debt.
Total
$ 47,000,000
$
$
$
$
$
$
$ 47.000.000
STATE OF NORTH eAROLINA
ss. :
eOUNTY OF NEW HANOVER )
ANDREW J. ATKINSON, being duly sworn, says that he is
the Finance Officer of the eounty of New Hanover, in the State of
North earolina; that by a resolution passed by the Governing
Board thereof he was authorized to make the foregoing statement;
and that the foregoing statement is true and was made and
subscribed by him after the introduction of the order referred to
in the heading of said statement.
F~
Sworn to and subscribed before
me on the day of the date of
said s atement.
ss. :
,Itlll""'"
\\ \ riA '"
....\\ ~ \,.\. .. P'Y/1, ""
..' 0...<<:" ._"."0", IV/V '
... ~.... ,,' "eo'L, '..
$~'.4t "0 ~ ~
.. . 0 . :..::....
: .. M TA eo ~ -:.
. \'" ""L'\, _' ...
t1. 'T r.; 'CY-
~: : t':)- . .... 1~~E
'~~'.. (JSLlr.: E
:. .z '. ..., .. CJO:
~ ~ .... .... ~:$
, '4/1, '. .' _\ ...
',-7Iy, ....... "-.\\'"
"" OVER CO'0,.... \..\..,
'" - \\
11'1/11111'\
My eommission expires the L.2!!' day of
STATE OF NORTH eAROLINA )
eOUNTY OF NEW HANOVER
I, the undersigned elerk to the Board of eommissioners
of the eounty of New Hanover, in the State of North earolina, DO
HEREBY eERTIFY that the foregoing statement and accompanying
affidavit were filed in my office on thell~ day of November,
1993, after the - introduction of the order referred- to-- in--the
heading of said statement.
IN WITNESS WHEREOF, I have hereunto set my hand and
affixed the seal of said eounty, this ~ day of November, 1993.
~~//~
e er~ t~ the Board of
eo lSSloners of
the eounty of New Hanover
Date 11/18/93
Time 12:28:58
Date of Issue
12/01/1968
11/01/1974
04/01/1975
06/01/1976
12/01/1985
12/01/1985
12/01/1985
12/01/1985
12/01/1985
07/01/1989
07/01/1989.
09/01/1989
11/01/1990
12/01/1990
12/01/1990
08/01/1992
03/01/1993
11- ~3
NEW HANOVER COUNTY, NC
Page
LON G - T E R M 0 E B T B Y I S SUE
Bonded Debt for Groups 00 - 07 as of 10/31/1993
Based on Date Paid Accounts 0000000000000000 - 9999999999999999
Description
Principal Balance
SCHOOL BLDG
TECHNICAL INSTITUTE
SCHOOL
PUBLI C HOSP IT AL
REFUNDING
REFUNDING
REFUNDING
REFUNDING
REFUNDING
Airport Bonds, 1989
Solid Waste Disposal, 1989
Museun Bonds
PARKS & RECREATIONAL FAC 80S
SOLID WASTE DISPOSAL- SERIES B
SOLID WASTE DISPOSAL- SERIES A
SOLID WASTE DISPOSAL
G/O SCHOOL REFUNDING BONDS
SCHOOL BLDG
CFTI CAPE FEAR COMM. COLLEGE
SCHOOLS
(NHMH)
STEAM PLANT PORTION
LANDFILL PORTION
SCHOOLS
OLD COURTHOUSE
A & E
Airport Terminal Development
Resource Recovery Series 1989
Museun Bonds
PARKS AND REC BOND
SERIES 1990B- TAX EXEMPT
SERIES 1990A- TAXABLE
SOLID WASTE, SERIES 1992
G/O SCHOOL REFUNDING, 1993
440,000,00
1,050,000.00
1,700,000.00
2,960,000.00
2,791,667.00
558,334.00
3,967,855.00
937,860.00
144,284,00
1,650,000,00
21,530,000.00
3,750,000.00
4,400,000.00
1,170,000.00
1,980,000.00
995,000.00
5,040,000.00
Total
55,065,000,00
SfCC/fl'1v O/1,LJG-hi7t>,.} 40n4s (/ Fir)
3,S'OO,ooo
-i
!)" 8,S"G5:, ()() ()
Date 11/18/93
Time 12:29:49
Date of Issue
04/24/1989
08/08/1989
06/24/1991
06/24/1991
08/23/1991
01/01/1992
08/12/1991
10/22/1991
01/01/1992
03/23/1992
04/07/1992
07/13/1992
09/01/1992
10/01/1992
11/01/1992
12/01/1992
12/14/1992
01/01/1993
06/25/1993
06/25/1993
04/01/1993
NEW HANOVER COUNTY, NC
Page
LON G - T E R M 0 E B T B Y I S SUE
Installment Debt for Groups 00 - 07 as of 10/31/1993
Based on Date Paid Accounts 0000000000000000 - 9999999999999999
Description
New Hanover Memorial Hospital
Social Services Building
FUNB 9110007-003
Funb 9110007-002
FUNB 9110007-004
FUNB 9110007-007
FUNB 9110007-005
FUNB 9110007-006
FUNB 9110007-009
FUNB 9110007-010
FUNB 9110007-011
FUNB 9210018-001
I BM CORPORATION
IBM CORPORATION
I BM CORPORATION
I BM CORPORATION
FUNB 9210034-001
I BM CORPORATION
FUNB 9110007-014
FUNB 9110007-013
FUNB 9110007-012
Principal Balance
NHMH N/P
DSS Building Purchase
EMS Anbulances
MIS Computer Equipment
Health Dept. Computer System
CATERPILLAR BULLDOZER
VSE/SP V4 Software Upgrade
WICAT LEARNING LABS FOR SCHOOL
HEALTH DEPT. COMPUTER SYSTEM
1991 GMC GAS SUBURBAN
(2) 1992 TYPE III AMBULANCES
LAW ENFORCEMENT CTR EXPANSION
DSS COMPUTER SYSTEM-HARDWARE
DSS COMPUTER SYSTEM-FEATURES
DSS COMPUTER SYSTEM-SOFTWARE
DSS COMPUTER SYSTEM
MYRTLE GROVE BRANCH LIBRARY
IBM MAINFRAME COMPUTER EQUIP
LIBRARY AUTOMATION SYSTEM
HEALTH DEPT TELEPHONE SYSTEM
1993 CHEVROLET SUBURBAN
300,000.00
3,000,149.60
112,823.08
15,220.47
3,015.42
149,193.25
9,890.11
34,364.15
78,754.75
19,828.57
67,n1.52
580,735.87
123,574.74
13,803.05
29,936.12
11,744.91
380,038.08
1,023,111.50
1n,786.00
120,817.56
18,543.17
Total
6,266,051.92
STATE OF NORTH CAROLINA
ss. :
COUNTY OF NEW HANOVER
I, LUCIE F. HARRELL, Clerk to the Board of
commissioners of the County of New Hanover, DO HEREBY CERTIFY, as
follows:
1. A /j~A~ / meeting of the Board of
Commissioners of the County of New Hanover, located in the State
of North Carolina, was duly held on November 19, 1993, proper
notice of such meeting having been given as required by North
Carolina statutes, and minutes of said meeting have been duly
recorded in the Minute Book kept by me in accordance with law for
the purpose of recording the minutes of said Board.
2. I have compared the attached extract with said
minutes so recorded and said extract is a true copy of said
minutes and of the whole thereof insofar as said minutes relate
to matters referred to in said extract.
3. Said minutes correctly state the time when said
meeting was convened and the place where such meeting was held
and the members of said Board who attended said meeting.
IN WITNESS WHEREOF, I have hereunto set my hand and
have hereunto affixed the corporate seal of said County, this
I'~ day of November, 1993.
,,, . ..
Solid Waste
Refunding
EXTRACTS FROM MINUTES OF BOARD OF COMMISSIONERS
A regular meeting of the Board of Cormnissioners of the County of New
Hanover was held on Friday, November 19, 1993 at 10:00 a.m. in Room 501 of
the New Hanover County Administration Building, 320 Chestnut street,
Wilmington, North Carolina, and the following Cormnissioners were present and
absent:
PRESENT:
Robert G. Greer, Chairman
E.L. Mathews, Jr., Vice-Chairman
Sandra Barone
William A. Caster
ABSENT :
William Sisson
*
*
*
*
*
*
*
Cr.rnmissioner C~ster
introduced the following bond
order which was read at length:
. "
"BOND ORDER AUTHORIZING THE ISSUANCE OF
$30,000,000 GENERAL OBLIGATION REFUNDING BONDS OF
~HE COUNTY OF NEW HANOVER"
WHEREAS, the County of New Hanover (the "County") has
issued and outstanding General Obligation Refunding Bonds, dated
December 1, 1985, maturing in the years 1994 to 2002, inclusive
(the "outstanding 1985 Refunding Bonds"); and
WHEREAS, the County has issued and outstanding Solid
Waste Disposal Bonds, dated July 1, 1989, maturing in the years
1994 to 2009, inclusive (the "outstanding 1989 Solid Waste
Disposal Bonds"); and
WHEREAS, the County has issued and outstanding Solid
Waste Disposal Bonds, Series 1990B, dated December 1, 1990,
maturing in the years 1994 to 2011, inclusive (the "Outstanding
1990 Solid Waste Disposal Bonds"); and
WHEREAS, the County has issued and outstanding Solid
Waste Disposal Bonds, Series 1992, dated August 1, 1992, maturing
in the years 1994 to 2013, inclusive (the "Outstanding 1992 Solid
Waste Disposal Bonds"); and
WHEREAS, the Board of Commissioners of the County deems
it advisable to pay and refund all or a portion of the
Outstanding 1985 Refunding Bonds, the Outstanding 1989 Solid
Waste Disposal Bonds, the outstanding 1990 Solid Waste Disposal
Bonds and the Outstanding 1992 Solid Waste Disposal Bonds
(collectively, the "Outstanding Solid Waste Disposal Bonds")
pursuant to and in accordance with The Local Government Finance
Act; and
-2-
WHEREAS, an application has been filed with the
Secretary of the Local Government Commission of North carplina
I
requesting commission approval of the Bonds hereinafter described
as required by The Local Government Finance Act, and the
Secretary of the Local Government Commission has notified the
Board that the application has been accepted for submission to
the Local Government Commission; NOW, THEREFORE,
BE IT ORDERED by the Board of Commissioners of the
County of New Hanover, as follows:
section 1. The Board of Commissioners of the County
has ascertained and hereby determines that it is advisable to pay
and refund all or a portion of the Outstanding Solid Waste
Disposal Bonds.
section 2. In order to raise the money required to
refund the outstanding Solid Waste Disposal Bonds as set forth
above, in addition to any funds which may be made available for
such purpose from any other source, bonds of the County are
hereby authorized and shall be issued pursuant to The Local
Government Finance Act of North Carolina. The maximum aggregate
principal amount of bonds authorized by this bond order shall be
$30,000,000.
Section 3. A tax sufficient to pay the principal of
and interest on said bonds when due shall be annually levied and
collected.
Section 4. A sworn statement of the County's debt has
been filed with the Clerk to the Board and is open to public
inspection.
-3-
, '
section 5. This bond order shall take effect upon its
adoption.
Commissioner Mathews
moved the adoption of the
following resolution:
WHEREAS, the bond order entitled, "BOND ORDER
AUTHORIZING THE ISSUANCE OF $30,000,000 GENERAL OBLIGATION
REFUNDING BONDS OF THE COUNTY OF NEW HANOVER," has been
introduced at the meeting of the Board of Commissioners of the
County of New Hanover held on November 19, 1993 and the Board of
Commissioners of the County of New Hanover desires to provide for
the holding of a public hearing thereon and the submission of a
statement of debt in connection therewith as required by The
Local Government Bond Act; NOW, THEREFORE,
BE IT RESOLVED by the Board of Commissioners of the
County of New Hanover, as follows:
(1) The public hearing upon said bond order shall be
held on the 6th day of December, 1993 at ~ o'clock E.M., at
1/0 ('hpc:::t-nllt- ~t-rppt-, Rmm 100 , in Wilmington, North
Carolina.
(2) The Clerk to the Board is hereby directed to cause
a copy of the bond order to be published with a notice of such
hearing in the form prescribed by law in a qualified newspaper no
fewer than six days prior to such public hearing.
(3) The County's Finance Officer is hereby directed to
file with the Clerk prior to publication of the bond order with
the notice of such public hearing, a statement setting forth the
-4-
",.-
debt incurred or to be incurred, the appraised value of property
subject to taxation by the County and the net debt of the County.
The motion was seconded by Commissioner Greer
and
* AYES:
following vote:
Robert G. Greer, Chainnan
E.L. Mathews, Jr., Vice-Chairman
Sandra Barone
William A. Caster
was adopted by the
NAYS:
None
* William Sisson absent.
*
*
*
*
*
-5-