2001 - 10-22-01 Regular Meeting - Laserfiche WebLink

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00'7 aco~ 8 ncF 651 The board considered a request concerning a speed limit study for Amos Bridges Road. Commissioner Lemmond moved that the board submit a letter to the North Carolina Department of Transportation asking them to conduct a traffic study to reduce the speed limit on Amos Bridges Road between Hawkins Avenue and Colon Road. Upon a vote, the results were as follows: Aye: Adams, Hincks, Lemmond, Matthews, Paschal, Reives, and Sauls Nay: None The Chairman riled the motion had been adopted unanimously. The board discussed an upcoming meeting concerning the 2004-2010 Transportation Improvement Program (TIP) that will be held at 8:00 a.m. October 24, 2001 at the Economic Development Office. County Manager William Cowan told the board it was once again time for the board to consider projects that reduce congestion, enhance growth in urban areas, and provide transportation infrastructure to boost rural economic development. After some discussion, County Manager William Cowan and Chairman Herb Hincks stated that they would be attending the meeting and would represent the Lee County Board of Commissioners. The board considered matters relating to the recent bond sale for General Obligation Refunding Bonds in the amount of $8,740,000 and General Obligation Public Improvement Bonds in the amount of $1,885,000. Commissioner Adams introduced the following resolution which was read at length: WHEREAS, the Local Government Commission of North Carolina has informed the Board of Commissioners of the sale of the County of Lee $8,740,000 General Obligation Refunding Bonds, I Series 2001, dated November 1, 2001 (the "Bonds") and that the contract of sale contemplates that the Bonds shall be payable and bear interest as hereinafter provided; and WHEREAS, the Board of Commissioners of the County of Lee (the "Issuer") desires to take such actions as are necessary to approve the terms of such sale, to approve the official statement and final official statement circulated in connection therewith and to authorize and/or confirm such other documents and actions contemplated by such sale: NOW THEREFORE, BE IT RESOLVED by the Board of Commissioners of the Issuer, as follows: The Board of Commissioners approves the sale of the Bonds to Scott & Stringfellow, Inc., trading as BB&T Capital Markets. The Bonds shall mature on February 1 in 7