12141984532
HARNETT COUNTY BOARD OF COMMISSIONERS SPECIAL SESSION, FRIDAY, DECEMBER 14, 1984
The Harnett County Board of Commissioners met in special session on
Friday, December 14, 1984, in the Commissioners Room, County Office
Building, Lillington, North Carolina, as was duly advertised, with the
following members present: M. H. Brock, Bill Shaw, Lloyd G. Stewart,
and Chairman Jesse Alphin presiding. Vanessa W. Young, Clerk to the
Board; Dwight Snow, representing the County Attorney's Office; and
Rollie J. Wade, Recording Secretary, were also present.
CALL TO ORDER Chairman Jesse Alphin called the meeting to order at 3:35 p.m.
PRAYER Commissioner M. H. Brock led the afternoon prayer.
INDUSTRIAL REVENUE BONDS Dwight Snow, appeared before the Board as a representative of the
MORGANITE Harnett County Industrial Facilities and Pollution Control Financing
Authority and advised the Board that the Authority proposed to adopt a
bond resolution authorizing the issuance of $3,000,000 industrial
revenue bonds and the execution and delivery of financing documents
pertaining to the financing of industrial facilities in Harnett County
for Morganite Incorporated (the "Company ").
Mr. Snow submitted to the Board drafts of a Trust Indenture between the
Authority and Wachovia Bank and Trust Company, N.A., as Trustee, a
Loan Agreement between the Authority and the Company, a Deed of Trust
between the Company and an individual trustee for the benefit of the
Authority, a Security Agreement between the Company and the Authority
and three Guaranty Agreements. The representative further stated that
the Trust Indenture set forth the terms of the industrial revenue
bond financing, including the proposed issuance and sale of the bonds
at a price of 100% of the principal amount thereof to Wachovia Bank
and Trust Company, N.A., and requested that the Board approve the
issuance of the bonds.
RESOLUTION INTRODUCED Commissioner Shaw then introduced the following resolution which was
read at length:
WHEREAS, the Board of County Commissioners has created a political sub-
division and body corporate and politic of the State of North Carolina
Known as "The Harnett Industrial Facilities and Pollution Control Financ-
ing Authority" (the "Authority "); and
WHEREAS, the Authority is authorized under the Industrial and Pollution
Control Facilities Financing Act, Chapter 159C of the General Statutes
of North Carolina, as amended (the "Act "), to issue revenue bonds for
the purpose, among others, of paying all or any part of the cost of any
industrial project for industry, to acquire, construct and equip any such
project, and to make and execute financing agreements, security documents
and other contracts and instruments necessary or convenient in the
exercise of such powers; and
WHEREAS, the Authority proposes to issue its $3,000,000 industrial
revenue bonds (the "Bonds ") and to loan the proceeds thereof to the
Company to finance the acquisition, construction and installation of
industrial facilities for the manufacture of mechanical and molded
carbon products (the "Project:), which Project will be operated by the
Company; and
WHEREAS, the Board has heretofore held a public hearing, pursuant to
notice duly given, and.has heretofore approved the Project in principle
and the issuance of revenue bonds to finance the Project; and
WHEREAS, the Act provides that no bonds shall be issued thereunder
unless the issuance thereof shall have been approved by the governing
body of the County and the Board desires to approve the issuance of
the Bonds by the Authority; and
WHEREAS, the Board has considered the Trust Indenture presented to it
setting forth the terms of the industrial revenue bond financing; and
WHEREAS, the Secretary of the North Carolina Department of Commerce
has allocated to the Counrty for the Project to be financed by the
Authority $3,000,000 of the private activity bonds volume limitation for
the State of North Carolina for the calendar year, 1984 (the "Allocation'
and the Board desires to assign the Allcoation to the Authority for the
Project;
NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS
of the County of Harnett, as follows:
(1) The issuance of the Bonds by the Authority is hereby approved.
(2) The Allocation is hereby assigned by the County of Harnett to the
Authority for the Project.
i) c
ELEVATING SCRAPER
FOR LANDFILL
LEASE - PURCHASE
iWITH CCB
(3) The Clerk of the Board of Commissioners is hereby authorized and directed
to provide certified copies of this resolution to the Local Government
Commission and to Bond Counsel.
(4) This resolution shall take effect immediately upon its passage.
Commissioner Brock moved the passage of the foregoing resolution and Commissioner
Stewart seconded the motion and the resolution was passed by the following vote:
Ayes: Commissioners Brock, Stewart, Shaw, Alphin and Collins. M. H. Brock,
County Manager, reported that Commissioner Collins had been by the office
prior to the Board meeting; reviewed the above resolution with Mr. Snow,
and had recorded his vote in favor of the adoption of this resolution
with Mr. Brock and the recording secretary.
Noes: None
M. H. Brock, County Manager, informed the Board, that he had contacted several
financial institutions regarding the lease - purchase of the scraper for the landfill
He reported that the lowest interest rate was obtained from Central Carolina Bank
and Trust Company at a rate of 8.5 percent. Commissioner Shaw made a motion
that Jesse Alphin, Chairman of the Board, be and he is hereby authorized to
execute the lease agreement with Central Carolina Bank on behalf of Harnett
County for the elevating scraper, which will be for 36 months with monthly
payments of $2,594; Commissioner Stewart seconded the motion and it carried with
a unanimous vote.
INDUSTRIAL TRAINING Commissioner Shaw made a motion that the Board approve the following amendment
CENTER CONTRACT to the contract and lease agreement between Harnett County and Central Carolina
WITH CCTC AMENDED Technical College concerning the addition of the welding shop to the industrial
training facility in Harnett County; Commissioner Stewart seconded the motion
and it passed with a unanimous vote:
THIS CONTRACT, made and entered into the date this agreement is validated
by the execution of the second and last party to sign, by and between HARNETT
COUNTY, a body politic organized and existing under the laws of the State of
North Carolina (hereinafter called "County ") and CENTRAL CAROLINA TECHNICAL
COLLEGE, an educational institution, operating under and by virtue of N. C.
General Statute Chapter 115D, (Hereinafter referred to as "Central Carolina "):
W I T N E S S E T H:
WHEREAS, County andCentral Carolina have previously entered into a Contract
and Lease Agreement executed by County on October 15, 1984, and by Central
Carolina on October 24, 1984, which agreement is incorporated herein by reference
and
WHEREAS, said agreement had a set of plans and specifications attached to
it designated as Exhibit A, and
WHEREAS, County and Central Carolina have agreed that said plans and
specifications be changed to include a welding shop the plans and specifications
for which are dated December 7, 1984, and referred to as CO -1 and CO -2 on
project number 2565.012 by MGA Incorporated, a copy of which is attached hereto
marked Exhibit "B" and incorporated herein by reference, and
WHEREAS, County and Central Carolina now wish to agree and clarify the
respecitve responsibilities in regard to the construction of the said welding
shop, and to amend the said Contract and Lease Agreement to reflect same.
NOW, THEREFORE, inconsideration of the mutual convenants and agreements
herein contained, the parties agree as follows:
1. County shall proceed to construct the welding shop shown on Exhibit B
as an addition to the original construction in accordance with the plans and
specifications shown on said Exhibit B and complete same as soon as possible.
2. Central Carolina shall pay for all costs of labor, material and otherwise
incurred in the construction of said welding shop in accordance with said plans
and Specifications which costs shall total approximately $109,148.23 and which
costs are comprised of construction cost of approximately $100,603.00, a design
fee of approximately $7,545.23, and an underground installation fee to Carolina
Power & Light Company which fee is not to exceed $1,000.00.
Signed by Harnett County this 14th Day of Decmeber, 1984.
BY: s/ Jesse Alphin
ATTEST: s/ Vanessa W. Young Chairman
Clerk
Signed by Central Carolina Technical College this 14th Day of December, 1984.
BY: s/ Meigs Golden
ATTEST: S/ Marvin Joyner
Secretary, Board of
Trustees
Chairman, Board of Trustees
0
!34
There being no further business, the Harnett County Board of Commissioners
special session of December 14, 1984, dula:djourned at 4:00 p.m.
Clerk U
`jerk 7aJ �lkAtny'