March 18, 2005 - 8:00 AM - County Board of Commissioners Meeting Minutes (Special)

10 78 Meeting of the Johnston County Board of Commissioners March 18 , 2005 The Johnston County Board of Commissioners met in special session Friday , March 18 , 2005 at 8 00 am in the Commissioners ’ Meeting Room , Johnston County Courthouse Annex , Smithfield , North Carolina The following members were present Present Cookie Pope , Chairman , Wade M Stewart , Vice Chairman , Jeffrey P Carver , W Ray Woodall , DeVan Barbour , and Tony Braswell Absent Allen L Mims , Jr Also Present Rick J Hester , County Manager , April N Byrd , Clerk to the Board , J Mark Payne , County Attorney , John R Massey , Finance Officer and Deva C Holt , Assistant to the Clerk The Chairman called the meeting to order and the following business was transacted 1 Public Hearing - 8 00 am Order Authorizing 56,000,000 Refunding Bonds Advertised March 11 , 2005 The Smithfield Herald The Chairman opened the public hearing and stated the purpose of the public hearing is to hear comments on the validity of the bond order authorizing 56,000,000 Refunding Bonds and the advisability of issuing the bonds Commissioner Jeffrey P Carver thanked County Manager Rick Hester and Finance Officer John Massey for their hard work on the project He noted , in his opinion , the long term effect of the refinancing will be very positive , although the County may not see much of an impact in the short term County Manager Rick Hester pointed out that if interest rates change prior to the sale of the bonds , the County can choose not to refinance There being no further comments , the Chairman closed the public hearing After consideration of the public hearing , Commissioner W Ray Woodall , moved the adoption of the Bond Order entitled ORDER AUTHORIZING 56,000,000 REFUNDING BONDS Commissioner Jeffrey P Carver seconded the motion and the Bond Order was passed and adopted by the following vote Ayes Cookie Pope , Wade M Stewart , W Ray Woodall , Jeffrey P Carver , DeVan Barbour , and Tony Braswell Nays None Not Voting None The following resolution was then introduced and its title was read RESOLUTION CALLING FOR PUBLICATION OF BOND ORDER AS ADOPTED AND APPOINTMENT OF BOND COUNSEL & FINANCIAL ADVISOR WHEREAS , the Johnston County Board of Commissioners has adopted the preceding bond order ; NOW THEREFORE , BE IT RESOLVED BY THE BOARD OF COMMISSIONERS FOR THE COUNTY OF JOHNSTON , NORTH CAROLINA 1 The Clerk to the Board of Commissioners shall cause said order to be published , together with the appended statement as required by The Local Government Bond Act , as amended , once in Smithfield Herald 2 The firms of Helms Mulliss & Wicker , PLLC and Davenport & Company , LLC , as bond counsel and financial advisor , respectively , are hereby ratified and confirmed with respect to said Refunding Bonds Commissioner W Ray Woodall moved the passage of the foregoing resolution and Commissioner Jeffrey P Carver seconded the motion , and the resolution was passed by the following vote Page79 Meeting of the Johnston County Board of Commissioners Ayes Cookie Pope , Wade M Stewart , W Ray Woodall , Jeffrey P Carver , DeVan Barbour , and Tony Braswell Nays None Not Voting None There being no further business , Commissioner W Ray Woodall moved he Board adjourn Commissioner Jeffrey P Carver seconded the motion , which carried by unanimous vote ___________________________________ Cookie Pope , Chairman ____________________________ April N Byrd , Clerk to the BoardPage