July 14, 1978 - 1:15 PM - County Board of Commissioners Meeting Minutes (Special)

Meeting of Board of Commissioners for the County of JohnstonJuly 14, 1978The Johnston County Board of Commissioners met in special called sessionFriday, July 14, 1978, at 1 15 pm, in the Commissioners Room of the JohnstonCounty Courthouse, Smithfield, North Carolina, with the following members presentNorman C Denning, Chairman, Frank B Holding, Vice Chairman, Howard Benton,John M Booker, DVM, and J E RogersonMembers Absent NoneThe Chairman called the meeting to order and the following business wastransactedlf Meeting of Johnston County Industrial Facilities and Pollution ControlFinancing AuthorityA representative of The Johnston County Industrial Facilities and PollutionControl Financing Authority appeared before the Board and advised the Board thatthe Authority at its meeting on July 13, 1978, had adopted a bond resolutionauthorizing the issuance of a revenue bond in the principal amount of 1,000,000to finance equipment for Data General Corporation the Company , and hadauthorized the execution and delivery of financing documents The representativedelivered to the Board a copy of the Bond Purchase Agreement authorized to beentered into by the Authority with the Company and North Carolina National BankThe representative advised the Board that the other approved financing documentswere available for inspection in the office of the Clerk of the County Board Therepresentative further stated that the Bond Purchase Agreement set forth the termsof the revenue bond financing, including the proposed sale of revenue the bond atpar to North Carolina National Bank, and requested that the Board approve theissuance of the revenue bond contemplated thereby A discussion of the blond issueensuedCommissioner Norman Denning introduced the following resolution which wasread at lengthWHEREAS, the Board of County Commissioners has created a political--;sub--division and body corporate and politic of the State of North Carolina known asThe Johnston County Industrial Facilities and Pollution Control Financing Author-ity the Authority ; andWHEREAS, the Authority is authorized under the Industrial and PollutionControl Facilities Financing Act, Chapter 159C of the General Statutes of NorthCarolina, as amended the Act , to issue revenue bonds for the purpose, amongothers, of paying all or any part of the costs of any industrial project forindustry, to acquire, construct and equip any such project, and to make and executelease agreements, security documents and other contracts and instruments necessaryor convenient in the exercise of such powers; andWHEREAS, the Authority has determined to issue its Industrial DevelopmentRevenue Bond Data General Corporation Project, Series 1978 the Bond , in theprincipal amount of 1,000,000, to pay all or part of the cost of acquisition,construction and installation of a certain equipment the Project constitutingintegral parts of an industrial facility in Johnston County, North Carolina, forthe manufacture of computer components and to lease the Project to Data GeneralCorporation; andWHEREAS, the Board has heretofore approved the Project in principle; andWHEREAS, the Act provides that no bonds shall be issued thereunder unlessthe issuance thereof shall have been approved by the governing body of the Countyand the Board desires to approve the issuance of the Bond by the Authority; andWHEREAS, the Board has considered the Bond Purchase Agreement presented toit setting forth the terms of the revenue bond financing; NOW, THEREFORE,BE IT RESOLVED by the Board of County Commissioners of the County ofJohnston, as follows1 The issuance of the Bond by the Authority is hereby approved2 The Clerk of the Board of Commissioners is hereby authorized anddirected to provide certified copies of this resolution to the LocalGovernment Commission and the Department of Commerce of North Carolina3 This resolution shall take effect immediately upon its passage486July 14, 1978 ContCommissioner Frank B Holding moved the passage of the foregoingresolution and Commissioner Howard Benton seconded the motion, and the resolutionwas passed by the following voteAYES Frank B Holding, Howard Benton, John M Booker, DVM, J ERogerson and Norman C DenningNAYS None2 ? Soil Engineering - Agreement - Pine Level Four Oaks 201 ProjectCommissioner Howard Benton moved that the engineering agreement with Soiland Materials Engineering of Raleigh for sub - surface soil testing for the PineLevel - Four Oaks 201 Project be approved in the amount of 6,31750Commissioner J E Rogerson seconded the motion which was carriedunanimously Contract on file with the Clerk3 Meeting with Smithfield Town BoardThe Board of Commissioners set a meeting date for August 7, 1978, atregular monthly meeting at approximately 3 oclock pm, with th -e Smithfield TownBoard Mr Jackson was instructed to contact the Town Manager for confirmationUpon a motion by Commissioner John M Booker, duly seconded by CommissioneFrank B Holding and carried by unanimous vote, the Board adjournedleanor N Creech, Clerk Norman C Denning, ai m n