2008 - 05-19-08 Regular Meeting - Laserfiche WebLink

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BOOK 2 2 PAGE 118 Commissioner Reives moved to hold a public hearing at the June 2, 2008 meeting to consider an economic development project with the Lee County Economic Development Corporation for the expansion of the 3M manufacturing plant. Upon a vote, the results were as follows: Aye: Brown, Kelly, Lemmond Nay: None Absent: Quiggle Paschal, Reives, and Shook The Chairman ruled the motion had been adopted unanimously. At 5:45 p.m. Chairman Brown recessed the meeting till 7:00 p.m. The meeting resumed at 7:00 p.m. in Courtroom #4 at the old Lee County Courthouse located at 1408 S. Horner Blvd., Sanford, North Carolina. Commissioners present were Robert H. Brown, James C. Kelly, Jerry M. Lemmond, Nathan E. Paschal, John T. Quiggle, Robert T. Reives, and Linda A. Shook. Chairman Brown called the meeting to order and opened the first public hearing that had been advertised for this date and time. Finance Director Lisa Minter outlined the application for the proposed financing contract for Qualified Zone Academy Bonds (QZAB) for the Lee County Schools. Ms. Minter stated the Board of Commissioners approved the School's request to apply for QZAB funding at their May 21, 2007 meeting. Lee County Schools was notified on July 6, 2007 of their approval for $1,622,021 of QZAB funding. On May 5, 2008, the Commissioners approved a resolution supporting the application of QZAB funding to the Local Government Commission. Ms. Minter further stated the QZAB program would be at a 0% interest to the County and financing would be for fourteen (14) years with annual payments of $115,858.64. Final approval of the application will be made from the Local Government Commission. If approved, funds will be used for the following school projects: • New roofs at Greenwood, J. Glenn Edwards and J. R. Ingram Elementary Schools, • Technology switches installed at Broadway, Bullock, Deep River, Greenwood, J, Glenn Edwards and J. R. Ingram Elementary Schools, East and West Lee Middle Schools, and Lee Senior High School; and • Painting the exterior of Bragg Street Academy and the Multi-purpose Room at the Floyd L. Knight/Children's Center. No one present spoke in favor of or in opposition to the Qualified Zone Academy Bonds for the Lee County Schools. Chairman Brown closed the first public hearing. County Manager John Crumpton presented a power-point presentation and discussed the proposed FY 2008-09 budget and presented the following information- 7