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2024-01-22 RM ExhibitsExhibit Book XLV page Q. I RESOLUTION OF THE COUNTY OF NEW HANOVER, NORTH CAROLINA DECLARING THE INTENT OF THE COUNTY OF NEW HANOVER, NORTH CAROLINA TO REIMBURSE ITSELF FOR CAPITAL EXPENDITURES FROM THE PROCEEDS OF CERTAIN TAX-EXEMPT OBLIGATIONS WHEREAS, the Board of Commissioners of the County of New Hanover, North Carolina ("County ") has determined that it is in the best interests of County to finance the construction of a new library in the County to be known as Northchase Library (the "Project'); WHEREAS, the County presently intends, at one time or from time to time, to finance all or a portion of the costs of the Project with proceeds of tax-exempt obligations and reasonably expects to cause to be executed and delivered tax-exempt obligations (the "Obligations") to finance, or to reimburse itself for, all or a portion of the costs of the Project; and WHEREAS, the County desires to proceed with some or all of the Project and will incur and pay certain expenditures in connection with the Project prior to the date of execution and delivery of the Obligations (the "Original Expenditures "), such Original Expenditures to be paid for originally from a source other than the proceeds of the Obligations, and the County intends, and reasonably expects, to be reimbursed for such Original Expenditures from a portion of the proceeds of the Obligations to be executed and delivered at a date occurring after the dates of such Original Expenditures; NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the County of New Hanover, North Carolina as follows: Section 1. Official Declaration of Intent. The County presently intends, and reasonably expects, to reimburse itself for the Original Expenditures incurred and paid by the County on or after the date occurring 60 days prior to the date of adoption of this Resolution from a portion of the proceeds of the Obligations. The County reasonably expects to execute and deliver the Obligations to finance all or a portion of the costs of the Project and the maximum principal amount of Obligations expected to be executed and delivered by the County to pay for all or a portion of the costs of the Project is approximately $13,044,540. Section 2. Compliance with Regulations. The County adopts this Resolution as a declaration of official intent under Section 1. 150-2 of the Treasury Regulations promulgated under Section 103 of the Internal Revenue Code of 1986, as amended, to evidence the County's intent to reimburse itself for the Original Expenditures from proceeds of the Obligations. , Section 3. Itemization of Capital Expenditures. The Chief Financial Officer of the County, with advice from bond counsel, is hereby authorized, directed, and designated to act on behalf of the County in determining and itemizing all of the Original Expenditures incurred and paid by the County in connection with the Project during the period commencing on the date occurring 60 days prior to the date of adoption of this Resolution and ending on the date of execution and delivery of the Obligations. PPAB 10396514v2 Section 4. Effective Date. This Resolution shall become effective immediately upon the date of its adoption. Read, approved, and adopted this 22 d day of January, 2024. By: I'al {- Q z — Chair of the Board of Commissioners eqg4t► a 0"a- ClerVto the Board A6 APPROVED A To FORM: Tfo;-- ty AkAtto][7iN�1--1,Ill'.1----..�----- PPAB 10396514v2 STATE OF NORTH CAROLINA IM COUNTY OF NEW HANOVER I, Kym Crowell, Clerk to the Board of Commissioners of the County of New Hanover, North Carolina, DO HEREBY CERTIFY that the foregoing is a true and exact copy of a resolution entitled "RESOLUTION OF THE COUNTY OF NEW HANOVER, NORTH CAROLINA DECLARING THE INTENT OF THE COUNTY OF NEW HANOVER, NORTH CAROLINA TO REIMBURSE ITSELF FOR CAPITAL EXPENDITURES FROM THE PROCEEDS OF CERTAIN TAX-EXEMPT OBLIGATIONS" duly adopted by the Board of Commissioners of the County of New Hanover, North Carolina at a meeting held on the 22' day of January, 2024. WITNESS my hand and the corporate seal of the County of New Hanover, North Carolina, this the pO( day of January, 2024. (SEAL; K} r 'rowell — --- - Clerk to the Board of Commissioners County of New Hanover, North Carolina PPAB 103965142 NEW 14ANOVER COUNTY BOARD OF COMMISSIONERS 230 Gove;iivylle�')t Center Ddive, Suite 175, WHrnkigton, NC 28403 P: (9101) 79& 7149 1 F: (910)798­7145 1 t4l­lCgovcon"i, Bill Rivenbark, Cha4, I LeAnn Pierce, Ace-Cham° Jonathan Barfield, jr,., Commissi�one�, � 13ane Scalise,, Comrnssloner I� Rob Zapple, Cornirnssioner January 22, 2024 Mike Causey, Commissioner N.C. Department of Insurance 1201 Mail Service Center Raleigh, NC 27699-1201 Dear Commissioner Causey: Exhibit Book XLV Page o"7.01 We write with deep concern over increases in homeowner insurance rates proposed by the North Carolina Rate Bureau. We understand that you share our concerns. The Bureau's requested rate increases of as much as 99.4 percent would have a profound.: and devastating impact on New Hanover County's homeowners. Furthermore, such an increase would exacerbate what is already a challenging housing affordability climate in North Carolina and in New Hanover County particularly. We believe these requests are excessive and unfairly target homeowners in coastal communities. Coastal residents already pay more to insure their homes as compared to inland areasafter factoring in standard homeowners' insurance combined with additional insurance for flood,-, wind and hail coverages. We formally oppose any increase and encourage you, as you have done in prior years,­tdAeny this request and ask that insurance companies withdraw these proposed increases. Sincerely, 01 A, Bill Rivenbark LeAnn Pierce Chair Vice -Chair 0000 Jonathan Barfield, Jr. County Commissioner County Comm Rob Za-pple County Commissioner. Exhibit NEW HANOxERCOUNTY BOARD DF COMMISSIONERS BOO-----=--^ayo--���_� RESOLUTION OPPOSING THE IMPOSITION 0FTOLLS TO FUND THE REPLACEMENT OF THE CAPE FEAR MEMORIAL BRIDGE WHEREAS, the Cape Fear Memorial Bridge, linking US17,LB76,and 04Z1over the Cape Fear River, has served as a critical thoroughfare for regional transportation and economic development since it was built in 1969; and WHEREAS, assessments from the 2021 Routine Inspection Report designate the bridge as functionally obsolete;and WHEREAS, the North Carolina Department ofTransportation (N[DOT)hasidentifiedtheCupeFearK4emoha|Bhdge as needing replacement due to its age and ongoing costs to maintain it for safety; and WHEREAS, replacement of the bridge would add additional capacity for the projected 94,900vehicles per day that will travel it in 2050 compared to the 2023 base year counts of 65,200 vehicles per day; and WHEREAS, the NCD01"spmposed replacement alternatives for the bridge include the imposition of tolls asone potential financial model; and WHEREAS, no tolls have been imposed to replace existing roads or bridges in North Carolina's history; and WHEREAS, the New Hanover County Board of Commissioners has a legislative goal and priority for there to be state and federal resources identified to replace the bridge; and WHEREAS, the New Hanover County Board of Commissioners has adopted a resolution supporting N[DDT's application of federal grant to partially fund a replacement bridge and to help further its scoring in NCDOT priorities; and WHEREAS, the proposed submission of the Cape Fear Memorial Bridge asatoll option would be for scoring purposes only and would not commit the project to being programmed and delivered as a toll facility; and WHEREAS, future affirmation hythe Wilmington Metropolitan Planning Organization (NMPO) Board would be required for the replacement of the Cape Fear Memorial Bridge to be implemented as a toll facility and, further the VVK4PO Board can withdraw any approval of toll option up until the Department advertises fora contract to construct the replacement bridge; and WHEREAS, future imposition of kd| to replace the [ape Fear Memorial Bridge would disproportionately impact the flow of commerce in Southeastern North Carolina, including the Port of Wilmington and other major employers; and WHEREAS, future imposition of toll to replace the Cape Fear Memorial Bridge would disproportionately impact Southeastern North Carolina residents who rely on the bridge to commute towork and home, access health care and other services and enjoy the region'srecreational opportunities. NOW, THEREFORE, BE IT RESOLVED, that the New Hanover County Board of Commissioners is opposed to the future imposition of a toll to fund the replacement of the Cape Fear Memorial Bridge. ADOPTED, this the 22nd day of January, 2024. NEW HANOV[RCOUNTY �-JJ 7 K William E. Rivenbark, ChSir j ST: