ECONOMIC DEVELOPMENT RESOLUTION - Joint Resolution to appoint SAGA Executive Member as ex-officio voting member of Airport Authority Request to General Assembly to increase term limits for contracting 3-6-17

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JOINT RESOLUTION OF THE LEE COUNTY BOARD OF COMMISSIONERS SANFORD CITY COUNCIL AND SANFORD AREA GROWTH ALLIANCE FILED LEE COUNTY NC PAMELA G. BRITT REGISTER OF DEEDS FILED Mar 22, 2017 AT 02:43:16 pm BOOK 00003 START PAGE 0182 END PAGE INSTRUMENT # EXCISE TAX WHEREAS, the General Assembly of North Carolina created the Sanford -Lee County Regional Airport Authority in 1992 to guide and direct the activities of the jointly -owned Sanford -Lee County Regional Airport; and WHEREAS, Session Law 1991-903 which created the Authority provided for the Authority to lease real or personal property or both for a term of twenty (20) years; and WHEREAS, Session Law 1991-903 provided for the Authority to contract with persons, firms, or corporations for terms not to exceed twenty (20) years for the operation of passenger and freight flights, scheduled or non-scheduled and any other plane or flight activities not inconsistent with airport operations; and WHEREAS, Session Law 1991-903 provided for the Authority to operate, own, control, regulate, lease, or grant to others the license to operate amusements or concessions for a term not exceeding twenty (20) years; and WHEREAS, the Sanford -Lee County Regional Airport Authority has had opportunities for additional hangar and business development at the Airport; and WHEREAS, current construction costs for hangars make it increasingly difficult for the investor to have a reasonable return on investment within the current twenty (20) year limitation; and WHEREAS, amending Session Law 1991-903 to allow for up to forty (40) years for leasing property, contracting with persons or firms and operate lease or grant licenses to amusements or concessions is not inconsistent with airport operations; and WHEREAS, allowing for up to forty (40) years for leasing, contracting, or granting of licenses for real or personal property may create more opportunities for new hangars and business development at the Airport; and WHEREAS, the Sanford -Lee County Regional Airport Authority has voted unanimously to request the North Carolina General Assembly to amend Session Law 1991-903 pertaining to term limits for contracting, leasing, or granting licenses of currently twenty (20) years to up to forty (40) years; and 0183 01598 (None)