July 22, 1996 - 8:00 AM - County Board of Commissioners Meeting Minutes (Recessed)

July 22, 1996The Johnston County Board of Commissioners resumed regular session on Monday, July 22,1996, at 800 oclock am in the Commissioners Meeting Room, Johnston County Courthouse Annex,Smithfield, North Carolina, with the following membersPresent Norman C Denning, Chairman, Jerry F Wood, Eleanor N Creech, Cecil M Massengilland Cookie PopeAbsent John M Booker, James W CashAlso Present Richard B Self, County Manager, and Joyce H Ennis, Clerk to the BoardThe Chairman called the meeting to order and the following business was transacted1 Cleveland Water District - Introduction of Bond Order and Call for PublicUpon a motion by Commissioner Cookie Pope, seconded by Commissioner Eleanor N Creechand carried by unanimous vote, the Board recessed regular session to sit as the Cleveland Water DistrictBoardCommissioner Cookie Pope introduced the following Bond Order, the title of which was readBOND ORDER AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATIONBONDS OF THE CLEVELAND WATER DISTRICT IN THE MAXIMUMAGGREGATE PRINCIPAL AMOUNT OF 4,000,000 FOR THE PURPOSE OFFINANCING, IN PART, THE ACQUISITION, CONSTRUCTION, ANDEQUIPPING OF A WATER SYSTEM IN THE DISTRICTWHEREAS The Board of Commissioners of Johnston County the Board acting as thegoverning body ofthe Cleveland Water District the District has decided to pursue the issuance of generalobligation bonds in the maximum aggregate principal amount of 4,000,000 under the Local GovernmentBond Act the Act to finance, in part, the acquisition, construction, equipping of a water system in theDistrict; andWHEREAS The Board has filed an application with the Local Government Commission ofNorth Carolina for approval of such bonds as required by the Act;BE IT ORDERED BY THE BOARD OF COMMISSIONERS OF JOHNSTON COUNTYACTING AS THE GOVERNING BODY OF THE CLEVELAND WATER DISTRICT1 It is hereby determined necessary and expedient for the District to borrow money, and thereis hereby authorized to be issued general obligation bonds of the District for the purpose of providingmoney, to finance, in part, the acquisition, construction, and equipping of a water system in the District2 The bonds shall be in an aggregate principal amount not to exceed a maximum of 4,000,0003 The bonds shall be general obligations of the District for the payment of principal of andinterest on which its full faith and credit shall be irrevocably pledged and taxes will be levied in an amountsufficient to pay the principal of and interest on the bonds4 A sworn statement of debt has been filed with the Clerk to the Board pursuant to G S § 159-55 and is open to public inspection5 This Bond Order will take effect when approved by the voters of the District pursuantto G S § 159 -61Commissioner Cookie Pope then introduced the following resolution the title of which was readRESOLUTION PROVIDING FOR PUBLIC HEARING ON BOND ORDER FOR 4,000,000GENERAL OBLIGATION BONDS AND PUBLICATION OF BOND ORDER AND NOTICEOF HEARING AND OTHER ACTIONWHEREAS There has been introduced to the Board of Commissioners of Johnston Countyacting as the governing body of the Cleveland Water District a Bond Order entitled, BOND ORDERAUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OF THE CLEVELANDWATER DISTRICT IN THE MAXIMUM AGGREGATE PRINCIPAL AMOUNT OF 4,000,000FOR THE PURPOSE OF FINANCING, IN PART, THE ACQUISITION, CONSTRUCTION, ANDEQUIPPING OF A WATER SYSTEM IN THE DISTRICT; andWHEREAS G S § 159 -54 provides there shall be a public hearing on the Bond Order and GS § 159 -56 provides for publication of the Bond Order and notice of hearing;NOW, THEREFORE, the Board of Commissioners of Johnston County, meeting in regularsession at Smithfield, North Carolina, on July 22, 1996, do the following374BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF JOHNSTON COUNTYACTING AS THE GOVERNING BODY OF THE CLEVELAND WATER DISTRICT1 A public hearing on the Bond Order shall be held at 1000 am in the Commissioners MeetingRoom in the Johnston County Courthouse Annex, Smithfield, North Carolina on August 5, 19962 The Clerk to this Board of Commissioners shall cause the Bond Order, with a statementappended in form described by G S § 159 -56, to be published in The Smithfield Herald3 The County Manager is hereby designated to file the statement of debt required by G S§ 159 -554 The completed form of application to the Local Government Commission with respect to theproposed bonds is hereby approved5 This resolution shall take effect immediatelyCommissioner Cookie Pope then introduced the following resolutionWATER DISTRICT PRELIMINARY FINDINGSWHEREAS, it has been proposed that the Cleveland Water District issue bonds to provide fora water distribution system; andWHEREAS, the Board is in general agreement with the necessity of such bond issue and hasdecided to pursue the issuance of general obligation bonds in the maximum aggregate principal of4,000,000 for Cleveland Water District under the Local Government Bond Act the Act to finance,in part, the acquisition, construction, installation and equipping of a water distribution system; andWHEREAS, this Board desires to make appropriate provisions for its pursuit;NOW, THEREFORE the Board of Commissioners of JOHNSTON County and the WaterDistrict on July 22, 1996, does the followingThe Board of Commissioners of JOHNSTON County and the Water District makes the followingfindings of fact1 The project provides for residential water lines to be installed in the District to enhancethe quality of life of its citizen2 The project is necessary and expedient because the system will replace inadequate wellsand promote the public health3 The amount of bonds is adequate for the proposed project based upon preliminaryengineering reports prepared by the firm of McKim and Creed of Cary in conjunction with the RuralEconomic and Community Development Agency4 Facts supporting the conclusion that debt management policies have been carried out incompliance with the law and reasonable assurances that compliance with the law will henceforth becarried out area The Local Government Commission has taken no action against the County or theDistrictb Neither the County nor the District has defaulted on any debtsC The County has received unqualified audit reports over the past yearsd The County and the District follow the debt management guidelines of the NorthCarolina Local Government Commission5 Facts supporting the conclusion that budgetary and fiscal management policies have been carriedout in compliance with the law and reasonable assurances that compliance with the law will henceforthbe carried out area The Local Government Commission has taken no actions against the County or theDistrictb The Countys annual audit is performed by a certified public accountant are unqualifiedC The County and the district follows the fiscal management guidelines of the LocalGovernment Commission6 The estimated property tax to pay the debt is 0 in Cleveland Water District Based on RECDSguidelines, the entire debt will be managed within the water rates charged to the consumers The averagewater bill will range from 24 to 26 per month based on grants from RECDSTHEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS OFJOHNSTON COUNTY AND THE CLEVELAND WATER DISTRICT THAT7 The Chairman and the County Manager, or either of them, are hereby designated as therepresentatives of the County and the District to file an application for approval of the bonds with theLocal Government Commission8 The Board hereby confirms its earlier decision to employ Hunton and Williams as bond counselfor the County and the District in the authorization and issuance of the bonds9 This Resolution shall take effect immediately375Commissioner Cookie Pope moved the passage of the foregoing resolutions and CommissionerCecil M Massengill seconded the motion, and the resolutions were passed by the following voteAyes Norman C Denning, Jerry F Wood, Eleanor N Creech, Cecil M Massengill, andCookie PopeNays NoneNot Voting NoneUpon a motion by Commissioner Eleanor N Creech, seconded by Commissioner Jerry F Woodand carried by unanimous vote, the Cleveland Water District Board adjourned and regular session wasresumedThere being no further business, Commissioner Jerry F Wood moved the Board adjournCommissioner Eleanor N Creech seconded the motion, which carried by unanimous voteNorman C Denning, ChairmanJoyce K Ennis, ClerkDetailsAnnotationsEntry PropertiesModified11192013 12448 PMCreated442003 90933 AMTemplateMinutesFieldsMinutes - TypeRecessedMinutes - Date7221996Book20