July 11, 1989 - 12:00 PM - County Board of Commissioners Meeting Minutes (Special)

The Johnston County Board of Commissioners met in special called session Tuesday,July 11, 1989, at 12 oclock noon in the Commissioners Room, Johnston County CourthouseAnnex, Smithfield, North Carolina, with the following members presentNorman C Denning, Chairman, Frank B Holding, Vice Chairman, James W Cash, andJohn M Booker, DVMMembers Absent Jerry F Wood, DDSAlso present Richard B Self, County Manager, Eleanor N Creech, Clerk to theBoard, and W R Britt, County AttorneyThe Chairman called the meeting to order and the following business was transacted1 Schools — Adoption of Bond OrdersCommissioner James W Cash introduced the following Bond Orders, the title of whichwere readBOND ORDER AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OFJOHNSTON COUNTY IN THE MAXIMUM AGGREGATE PRINCIPAL AMOUNT OF 47,000,000FOR THE PURPOSE OF FINANCING, IN PART, THE ACQUISITION, CONSTRUCTION,INSTALLATION AND EQUIPPING OF SCHOOL FACILITIES IN JOHNSTON COUNTYWHEREAS The Board of Commissioners of Johnston County the Boardhas decided to pursue the issuance of general obligation bonds in themaximum aggregate principal amount of 47,000,000 under the LocalGovernment Bond Act the Act to finance, in part, the acquisition,construction, installation and equipping of school facilities in Johnston County;andWHEREAS The Board has filed an application with the LocalGovernment Commission of North Carolina for approval of such bonds asrequired by the Act;BE IT ORDERED BY THE BOARD OF COMMISSIONERS OF JOHNSTONCOUNTY1 It is hereby determined necessary and expedient for JohnstonCounty to borrow money, and there are hereby authorized to be issuedgeneral obligation bonds of Johnston County for the purpose of providingmoney to finance, in part, the acquisition, construction, installation andequipping of school facilities in Johnston County2 i The bonds shall be in an aggregate principal amount not toexceed 417,000,000i AJuly 11, 1989 Continued3 The bonds shall be general obligations of Johnston County for thepayment of principal of and interest on which its full faith and credit shallbe irrevocably pledged and taxes will be levied in an amount sufficient to paythe principal of and interest on the bonds4 A sworn statement of debt has been filed with the Clerk to theBoard pursuant to GS Section 159 -55 and is open to public inspection5 This Bond Order will take effect when approved by the voters ofJohnston County pursuant to GS Section 159 -61BOND ORDER AUTHORIZING THE ISSUANCE OF GENERAL OBLIGATION BONDS OFJOHNSTON COUNTY IN THE MAXIMUM AGGREGATE PRINCIPAL,_ AMOUNT OF2,000,000 FOR THE PURPOSE OF FINANCING, IN ;PART, THE °ACQUIS,ITION,CONSTRUCTION, INSTALLATION AND EQUIPPING OF WATER TRANSMISSION ANDDISTRIBUTION FACILITIES IN JOHNSTON COUNTYWHEREAS The Board of Commissioners of Johnston County the Boardhas decided to pursue the issuance of general obligation bonds in themaximum aggregate principal amount of 2,000,000 under the Local GovernmentBond Act the Act to finance, in part, the acquisition, construction,installation and equipping of water transmission and distribution facilities inJohnston County; andWHEREAS The Board has filed an application with the LocalGovernment Commission of North Carolina for approval of such bonds asrequired by the Act;BE IT ORDERED BY THE BOARD OF COMMISSIONERS OF JOHNSTONCOUNTY1 It is hereby determined necessary and expedient for JohnstonCounty to borrow money, and there are hereby authorized to be issuedgeneral obligation bonds of Johnston County for the purpose of providingmoney to finance, in part, the acquisition, construction, installation andequipping of water facilities in Johnston County2 The bonds shall be in an aggregate principal amount not toexceed 2,000,0003 The bonds shall be general obligations of Johnston County for thepayment of principal of and interest on which its full faith and credit shallbe irrevocably pledged and taxes will be levied in an amount sufficient to paythe principal of and interest on the bonds4 A sworn statement of debt has been filed with the Clerk to theBoard pursuant to GS Section 159 -55 and is open to public inspection5 This Bond Order will take effect when approved by the voters ofJohnston County pursuant to GS Section 159 -61Commissioner James W Cash then introduced the following resolution the title ofwhich was readRESOLUTION PROVIDING FOR PUBLIC HEARINGS ON BOND ORDERSFOR 49,000,000 GENERAL OBLIGATION BONDS AND PUBLICATIONOF BOND ORDERS AND NOTICES OF HEARING AND OTHER ACTIONWHEREAS There have been introduced to the Board of Commissionersof Johnston County a Bond Order entitled, BOND ORDER AUTHORIZING THEISSUANCE OF GENERAL OBLIGATION BONDS OF JOHNSTON COUNTY IN THEMAXIMUM AGGREGATE PRINCIPAL AMOUNT OF 47,000,000 FOR THE PURPOSEOF FINANCING, IN PART, THE ACQUISITION, CONSTRUCTION, INSTALLATIONAND EQUIPPING OF SCHOOL FACILITIES IN JOHNSTON COUNTY and a BondOrder entitled, BOND ORDER AUTHORIZING THE ISSUANCE OF GENERALOBLIGATION BONDS OF JOHNSTON COUNTY IN THE MAXIMUM AGGREGATEPRINCIPAL AMOUNT OF 2,000,000 FOR THE PURPOSE OF FINANCING, INPART, THE ACQUISITION, CONSTRUCTION, INSTALLATION AND EQUIPPING OFWATER TRANSMISSION AND DISTRIBUTION FACILITIES IN JOHNSTON COUNTY,andiI,IJuly 11, 1989 ContinuedWHEREAS GS Section 159 -54 provides there shall be a public hearingon the Bond Orders and GS Section 159 -56 provides for publication of theBond Orders and notices of hearings;NOW, THEREFORE, the Board of Commissioners of Johnston County,meting in special session at Smithfield, North Carolina, on July 11, 1989, dothe followingBE IT RESOLVED BY THE BOARD OF COMMISSIONERS OF JOHNSTONCOUNTY1 Public hearings on the Bond Orders shall be held at 12 noon in theBoard meeting room in the JohnstonCounty Courthouse, Smithfield, NorthCarolina on July 20, 1989The Clerk -to this Board of Commissioners shall cause the BondOrders, with statemi nts Appended in form described by GS Section 159 -56,to be published in The Smithfield Herald3 The Chairman of the Board of Commissioners is hereby designatedto file the statement of debt required by GS Section 159 -554 The completed forms of applications to the Local GovernmentCommission with respect to the proposed bonds are hereby approved5 This resolution shall take effect immediatelyCommissioner James W Cash moved the passage of the foregoing resolution andCommissioner Frank B Holding seconded the motion, and the resolution was passed by thefollowing voteDVMAyes Norman C Denning, Frank B Holding, James W Cash and John M Booker,Nays NoneNot Voting NoneUpon a motion by Commissioner Frank B Holding, duly seconded by CommissionerJohn M Booker and carried, the Board adjournedNorman C Denning, ChairmanEleanor N Creech, ClerkrDetailsAnnotationsEntry PropertiesModified11192013 11326 PMCreated442003 121521 PMTemplateMinutesFieldsMinutes - TypeSpecialMinutes - Date7111989Book18