02141989217
SPECIAL MEETING, SOUTH CENTRAL WATER F SEWER DISTRICT, FEBRUARY 14, 1989
CALL TO ORDER
The Harnett County Board of Commissioners sitting as the governing body of
South Central Water and Sewer District of Harnett County met in special
session on February 14, 1989, in the County Office Building, Lillington, North
Carolina, with the following members present: Rudy Collins, Bill Shaw, Mack
Reid Hudson, Mayo Smith, and Chairman Lloyd G. Stewart presiding. Others
present were: Dallas H. Pope, County Manager; and Kay S. Blanchard, Recording
Secretary.
Chairman Stewart called the meeting to order at 5 p.m.
BRIEFING RE: John M. Phelps, II, Public Utilities Attorney, briefed the Board concerning
FmHA DISCOUNT FmHA 1989 Discount Purchase Program Requirements.
PURCHASE PROGRAM
Rodney M. Tart, Director, Public Utilities, briefed the Board on quotes from
various banks concerning the buyback of FmHA loan for South Central Water and
Sewer District.
RESOLUTION RE:
APPLICATIQN FOR
DISCOUNT PURCHASE
PROGRAM
ADJOURNMENT
DOCUMENT NO. 1.
John M. Phelps, II, Public Utilities Attorney, presented a resolution author-
izing filing of. application to Local Government Commission FmHA Discount
Purchase Program - 1989. Commissioner Shaw moved for the adoption of the
resolution. Commissioner Collins seconded the motion and it passed with a
unanimous vote. The resolution is copied in full at the end of these minutes
dated February 14, 1989, as document No. 1.
There being no further business, the South Central Water and Sewer District
special meeting, February 14, 1989, duly adjourned at 5:30 p.m.
Stewart, Chairman
K,, J. Ma/Re/64d
Kay S. Blanchard, Recording Secretary
Vanessa W. Young, Cle
RESOLUTION AUTHORIZING FILING OF
APPLICATION TO LOCAL GOVERNMENT COMMISSION
FmHA DISCOUNT PURCHASE PROGRAM - 1989
to th(d Board
WHEREAS, the South Central Water and Sewer District of Harnett
County has issued general obligation Water Bonds dated June 13, 1988
in the amount of $2,769,000; and
WHEREAS, said bonds were purchased by the Farmers Home
Administration of the United States Department of Agriculture
(hereinafter "FmHA:); and
WHEREAS, said FmHA has announced a Discount Purchase Program for
1989 providing the South Central Water and Sewer District the
opportunity to purchase its FmHA loans (bonds) at a discount, subject
to certain conditions and restrictions; and
WHEREAS, the Harnett County Board of Commissioners, sitting as
the governing body of the South Central Water and Sewer District,
desires to participate in the said Discount Purchase Program for 1989
and desires to apply for the issuance of refunding bonds for the
purpose of refunding said general obligation bonds now held by FmHA,
and
WHEREAS, in order to proceed with the refunding of said general
obligation bonds and participate in the FmHA Discount Purchase Program
it is necessary for the said District to make application to the Local
Government Commission of the Department of the State Treasurer and to
authorize additional actions regarding the same.
218
1. The District is hereby authorized and directed to file an
application with the North Carolina Local Government
Commission seeking approval of the issuance of the
referenced water refunding bonds, in a maximum aggregate
principal amount of $2,769,000, and the District's
participation in said FmHA Discount Purchase Program.
2. John M. Phelps, II, Harnett County Public Utilities Attorney
and attorney for the said District is hereby designated as
representative of the District with respect to seeking
approval of the issuance of said water refunding bonds and
the District's participation in the FmHA Discount Purchase
Program and is directed to file application for approval
thereof and to employ bond counsel to represent the District
with respect to the same.
3. The District and its agents are further authorized to take
such actions as are necessary to file application with the
Local Government Commission.
Duly adopted this 14th day of February, 1989 upon motion made by
Commissioner Shaw , seconded. by Commissioner
Collins and passed by the following vote:
Ayes 5 Noes 0 Absent 0 Abstained 0
HARNETT COUNTY BOARD OF
COMMISSIONERS SITTING AS THE
GOVERNING BODY OF THE SOUTH
CENTRAL WATER AND SEWER DISTRICT
OF HARNETT COUNTY
ATTEST:
/nN.a.ts 61 (-6/Ara,
Vanessa W. You n41, CI
Board of Commissioners of the
County of Harnett and Clerk,
South Central Water and Sewer
District of Harnett County