2012/09/17 RESOLUTION TO REIMBURSE ITSELF FOR CAPITAL EXPENDITURES INCURRED IN CONNECT W/IMPROVEMENTS TO CERTAIN OF SOLID WASTE FACILITIES FROM THE PROCEEDS OF TAX-EXEMPT OBLIGATIONS TO BE EXECUTED & DELIVERED IN FY 2013.EXTRACTS FROM MINUTES OF BOARD OF COMMISSIONERS
A regular meeting of the Board of Commissioners of the County of Harnett, North Carolina was
held on Monday, September 17, 2012 at 7:00 p.m. in the County Commissioners' Meeting Room, Harnett
County Administration Building, 102 East Front Street, Lillington, North Carolina, Timothy B. McNeill,
Chairman of the Board of Commissioners of the County of Harnett, North Carolina (the "Board"),
presiding and the following Commissioners present:
The following members were present: Timothy B. McNeill, Chairman
Beatrice B. Hill, Vice Chairman
Dan Andrews, Commissioner
Jim Burgin, Commissioner
Gary House, Commissioner
The following members were absent: none
Also present: Scott Sauer, County Manager
Tony Wilder, Deputy County Manager
Dwight Snow, County Attorney
Sylvia Blinson, Finance Officer
Margaret Regina Wheeler, Clerk
Commissioner House moved that the following resolution (the "Resolution "), a copy of which
was available with the Board and which was read by title:
RESOLUTION OF THE COUNTY OF HARNETT, NORTH CAROLINA DECLARING THE
INTENT OF THE COUNTY OF HARNETT, NORTH CAROLINA TO REIMBURSE ITSELF FOR
CAPITAL EXPENDITURES INCURRED IN CONNECTION WITH IMPROVEMENTS TO
CERTAIN OF SOLID WASTE FACILITIES FROM THE PROCEEDS OF TAX - EXEMPT
OBLIGATIONS TO BE EXECUTED AND DELIVERED IN FISCAL YEAR 2013.
WHEREAS, the Board of Commissioners (the "Board") of the County of Harnett, North Carolina
(the "County") has determined that it is in the best interests of the County to make certain improvements
to the County's solid waste facilities, including the acquisition and construction of a lined cell for the
disposal of solid waste, the acquisition and construction of a leachate collection system and certain
transfer station improvements (collectively, the "Projects ");
WHEREAS, the County presently intends, at one time or from time to time, to finance all or a
portion of the costs of the Projects with proceeds of its tax - exempt obligations (the "Obligations "), and
reasonably expects to execute and deliver the Obligations to finance, or to reimburse itself for, all or a
portion of the costs of the Projects; and
WHEREAS, the County desires to proceed with the Projects and will incur and pay certain
expenditures in connection with the Projects prior to the date of the initial execution and delivery of the
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Obligations (the "Original Expenditures "), such Original Expenditures to be paid for originally from a
source other than the proceeds of the Obligations, and the County intends, and reasonably expects, to be
reimbursed for such Original Expenditures from a portion of the proceeds of the Obligations to be
executed and delivered at a date occurring after the dates of such Original Expenditures;
NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the County of
Harnett, North Carolina as follows:
Section 1. Official Declaration of Intent The County presently intends, and reasonably expects,
to reimburse itself for the Original Expenditures incurred and paid by the County on or after the date
occurring 60 days prior to the date of adoption of this Resolution from a portion of the proceeds of the
Obligations. The County reasonably expects to execute and deliver the Obligations in fiscal year 2013 to
finance all or a portion of the costs of the Projects. The maximum principal amount of the Obligations
expected to be executed and delivered by the County to pay for all or a portion of the costs of the Projects
is $1,750,000.
Section 2. Compliance with Regulations. The County adopts this Resolution as a declaration of
official intent under Section 1.150 -2 of the Treasury Regulations promulgated under Section 103 of the
Internal Revenue Code of 1986, as amended, to evidence the County's intent to reimburse itself for the
Original Expenditures from proceeds of the Obligations.
Section 3. Itemization of Capital Expenditures. The Finance Officer of the County, with advice
from special counsel, is hereby authorized, directed and designated to act on behalf of the County in
determining and itemizing all of the Original Expenditures incurred and paid by the County in connection
with the Projects during the period commencing on the date occurring 60 days prior to the date of
adoption of this Resolution and ending on the date of the initial execution and delivery of the Obligations.
Section 4. Effective Date. This Resolution is effective immediately on the date of its adoption.
On motion of Commissioner House, seconded by Commissioner Vice Chairman Hill
the foregoing resolution entitled "RESOLUTION OF THE COUNTY OF HARNETT, NORTH CAROLINA
DECLARING THE INTENT OF THE COUNTY OF HARNETT, NORTH CAROLINA TO REIMBURSE ITSELF
FOR CAPITAL EXPENDITURES INCURRED IN CONNECTION WITH IMPROVEMENTS TO CERTAIN OF
SOLID WASTE FACILITIES FROM THE PROCEEDS OF TAX - EXEMPT OBLIGATIONS TO BE EXECUTED
AND DELIVERED IN FISCAL YEAR 2013" was duly adopted by the following vote:
AYES: 5
NAYS: 0
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STATE OF NORTH CAROLINA
ss:
COUNTY OF HARNETT
1, MARGARET REGINA WHEELER, Clerk to the Board of Commissioners of the County of Harnett,
North Carolina, DO HEREBY CERTIFY that the foregoing is a true and exact copy of a resolution
entitled "RESOLUTION OF THE COUNTY OF HARNETT, NORTH CAROLINA DECLARING THE INTENT OF
THE COUNTY OF HARNETT, NORTH CAROLINA TO REIMBURSE ITSELF FOR CAPITAL EXPENDITURES
INCURRED IN CONNECTION WITH IMPROVEMENTS TO CERTAIN OF SOLID WASTE FACILITIES FROM
THE PROCEEDS OF TAX- EXEMPT OBLIGATIONS TO BE EXECUTED AND DELIVERED IN FISCAL
YEAR 2013" adopted by the Board of Commissioners of the County of Harnett, North Carolina, at a
meeting held on the 17`h day of September, 2012.
WITNESS my hand and the corporate seal of the County of Harnett, North Carolina, this the 171h
day of September, 2012.
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MAR ARET REGIN WHEELER
Cler to the Board
County of Harnett, North Carolina