1977 - 09-17-77 Regular Meeting - Laserfiche WebLink

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A' representative of The Lee; County Industrial Facilities and Pollution Control Financing Authority appeared before the County. Board and . advised the County Board of the Authority's intention to issue industrial develop.: - ment revenue bonds to acquire, improve and expand industrial facilities for the manufacture.of cabinets, for:re sidential kitchens in the Cdunty'fc;r St. 'Charles Manufacturing Co. The representative placed before the County Board a copy of the Memo randum.of Inducement and.Intent approved by the Authority with respect to. the project, including' the more elaborate description of such project contained ;therein. _A'discussioii:of the project and its consequences for Lee County 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 Industrial 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 (the "Act"), to issue revenue bonds for the purpose, among,others, of payingiail_or.any`; part of the cost of any industrial project for industry, to acquire construct, and equip any such project,;, and to make4andexe - cutei lease agreements, security documents and other contracts and,instru;ments necessary or convenient in the exereisd'of such'powers;.'and ' WHEREAS, 'the AutHd tty has;d 3etermmed to'i'ssue:its revenue bonds to pay all, or. a part of the`cost of acquisition, construction, and equipping of industrial_facilities,for the manufacture of cabinets for residential kitchens in the County (the "Project") and. to lease the Project to St. Charles Manufacturing•.C6. ; and WHEREAS, the Authority intends to file an application for approval of the proposed Project with the Secretary of the Department of Commerce (the "Department"),' as required by the Act; and WHEREAS, the Department has,`:by administrative regu- lation, stipulated that no application for approval of a project will be officially received until the. governing body of.the county from which the application is made has,, by resolution, approved in principle the pro- posed project and a certified copy of such resolution has beeii provided to the Department; and 'WHEREASi the Board of County Commis sioners.desires to approve the.Project in principle; NOW', THEREFORE, BE IT RESOLVED by the Board of County,Commissioners of the County'of Lee; as follows: (1) 'The. proposed Project', shall be and is hereby approved in principle. (2) The Clerk of the Board of Commissioners is hereby authorized and directed'to provide a'certified copy of this resolution to the Department. (3) This resolution shall -take effect immediately upon its passage. Commissioner Clyde J..'Rhyne.moved the passage of the foregoing resolution and Commissioner John E. Dotterer seconded the motion, and the \ resolution was passed by the following voter