2003 - 05-05-03 Regular Meeting - Laserfiche WebLink

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'.4 Lunn J ~~~F Qs 9 Board will make a recommendation to the Board of Commissioners. Chairman Hincks moved to schedule a joint public hearing for the June 16, 2003 meeting to hear comments on the matter. Upon a vote, the results were as follows: Aye: Adams, Hincks, Lemmond, Matthews, Paschal, Reives, and Stevens Nay: None The Chairman ruled the motion had been adopted unanimously. The board considered the proposed issuance of revenue bonds in the amount of $4,250,000 for the Caterpillar project. County Attorney K. R. Hoyle told the board that a public hearing had been advertised for this date and time for the intention to submit to the Department of Commerce an application for approval of an industrial project. Chairman Hincks opened the public hearing. Bob Heuts representing the Economic Development Corporation spoke in favor of the application. He stated that the company would benefit Lee County and the industrial park. No one present spoke in opposition to the application. Commissioner Stevens moved to close the public hearing. Upon a vote, the results were as follows: Aye: Adams, Hincks, Lemmond, Matthews, Paschal, Reives, and Stevens Nay: None The Chairman ruled the motion had been adopted unanimously. Commissioner Paschal introduced a resolution approving in principle a manufacturing project in Lee County, North Carolina, to be financed for Lee Central, LLC by not exceeding $4,250,000 aggregate principal amount of bonds of the Lee County Industrial Facilities and Pollution Control Financing Authority authorizing that authority to apply to the North Carolina Federal Tax Reform Allocation Committee for an allocation of unified volume limitation, and approving the issuance of such bonds, a copy of which is attached to these minutes and by this reference made a part hereof. Commissioner Stevens seconded the motion, and upon a vote, the results were as follows: Aye: Adams, Hincks, Lemmond, Matthews, Paschal, Reives, and Stevens Nay: None The Chairman ruled the motion had been adopted unanimously. Chairman Hincks recessed the meeting to the Gordon Wicker Conference Room to continue budget discussions. 5