1978 - 06-19-78 Regular Meeting - Laserfiche WebLink

Home Browse Search

0 a The Board next considered the list of bills prepared by the County Finance Officer, Commissioner Clyde J. Rhyne moved that the bills as listed by the County Finance Officer be approved for payment, Commissioner Gordon A. Wicker seconded the motion and upon a vote it was unanimously adopted. Commissioner Franklin D. Wicker joined the meeting and participated in the further deliberations of the Board. Commissioner Clyde J. Rhyne presented a list of vehicles that have been found to be surplus to the County's needs and for which a disposition should be made by the Board. After discussion by the Board, Commissioner Clyde J. Rhyne moved that the County Attorney and the County Finance Officer be authorized to dispose of the following property, to wit: One 1972 Honda, Serial No. AN6 001 0472 3 3; One 1972 Honda, Serial No. 1046054; One 1970 Ford, Serial No. ONS3HI28613; One 1971 Chevrolet Ambulance, Serial No. CE261F604141; One 1974 Ford, Serial No. 4N53S118721; One 1977 Ford, Serial No. 7H27H168062; One 1964 Dodge Bus, Serial No. 420732807C2900; One 1973 International Truck (Cab and Chassis), Serial No. 11736613; at public auction for cash, on July 15, 1978, at 3 o'clock p, m., at the Lee County Courthouse, and such officials are further authorized to publish a notice summar- izing the contents of this resolution at least once and not less than ten days before July 15, 1978, the date of the auction, in accordance with the provisions of G. S. 160-270(b). Commissioner Franklin D. Wicker seconded the motion and upon a roll call vote, Messrs. Rhyne, Franklin D. Wicker, Gordon A. Wicker and Cooper all voted for it and no one voted against it. A representative of The Lee County Industrial Facilities and Pollution Control Financing Authority appeared before the Board and advised the Board that the Authority at its meeting on June 14, 1978, had adopted a bond reso- lution authorizing the issuance of a revenue bond in the principal amount of $750, 000 to finance industrial facilities for St. Charles Manufacturing Co. (the "Company"), and had authorized the execution and delivery of financing documents. The repre- sentative delivered to the Board a copy of the Bond Purchase Agreement authorized to be entered into by the Authority with the Company and The Business Development Corporation of North Carolina. The representative advised the Board that the other approved financing documents were available for inspection in the office of the Clerk of the County Board. The representative further stated that the Bond Purchase Agreement set forth the terms of the revenue bond financing, including the proposed sale of the Bond at par to The Business Development Corporation of North Carolina, and requested that the Board approve the issuance of the revenue bond contemplated thereby. A discussion of the bond issue ensued. Commissioner Clyde J. Rhyne introduced the following resolution which was read at length: WHEREAS, the Board of County Commissioners has created a political subdivision and body corporate and politic of the State of North Carolina known as "The Lee County In- dustrial Facilities and Pollution Control Financing Authority" (the "Authority"); and WHEREAS, the Authority is authorized under the Industrial and Pollution Control Facilities Financing Act, Chapter 159C of the General Statutes of North Carolina, as amended (the "Act"), to issue revenue bonds for the purpose, among others, of paying all or any part of the costs of any industrial project for industry, to acquire, construct and