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9 <br />aooi 16 Pr,rE 58 <br />WHEREAS, N.C. GS 160A-274 authorizes a County, upon such conditions as it <br />deems wise, with or without consideration, to sell to a governmental unit such as said <br />water and sewer district any interest in real or personal property that it may own; and <br />WHEREAS, the Board of Commissioners has determined that it is in the best <br />interest of Lee County for the present assets of its water system with the exception of that <br />portion of the system which serves Golden Poultry Company and the Cumnock Water <br />District to be conveyed to the Lee County Water and Sewer District No. 1 upon <br />assumption by said district of all liabilities of the present system, <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of <br />Lee County as follows: <br />Section 1. That all of the assets of the present water system owned by Lee <br />County, with the exception of that portion of the system which serves Golden Poultry <br />Company and the Cumnock Water District, be conveyed to the Lee County Water and <br />Sewer District No. I and this is to include all of the assets of said system including, but <br />not limited to the cash, accounts receivable, water lines, land, easements, rights in land, <br />tanks, wells, pumps, buildings, equipment, retained earnings, and contributed capital. <br />Section 2. That in return for conveyance of said assets, that the Lee County <br />Water and Sewer District No. 1 assumes all of the liabilities of the present water system <br />including, but not limited to accounts payable and any loans payable. <br />Section 3. That the Chairman, Vice-Chairman and Clerk to this Board are <br />authorized and directed to execute any and all documents necessary to carry out the intent <br />of this resolution. <br />Section 4. That this transfer of assets and assumption of liabilities shall take <br />place as of the status of accounts at the close of business on June 30, 1997. <br />Section 5. That the Finance Officer and Public Works Director shall file a <br />report to this Board upon the completion of said transfer detailing and outlining what <br />assets were transferred and what liabilities were assumed. <br />Commissioner Cox seconded the motion, and upon a vote, the results were as follows: <br />Aye: Cox, Garner, Mansfield, Matthews, Moretz, Paschal and Reives <br />Nay: None <br />The Chairman ruled the motion had been adopted unanimously. <br />9 <br />