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
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