2021/05/17 RESOLUTION APPROVING ISSUANCE ANGIER BLACK RIVER TAX EXEMPT OBLIGATIONS RESOLUTION AUTHORIZING AND APPROVING THE ISSUANCE BY
ANGIER & BLACK RIVER FIRE DEPARTMENT, INC. OF CERTAIN
TAX-EXEMPT OBLIGATIONS
WHEREAS, Angier & Black River Fire Department, Inc. (the "ABRFD") and the
County of Harnett, North Carolina (the "County") have heretofore entered into an agreement on
May 17, 2021 whereby ABRFD has agreed to provide the County fire protection services; and
WHEREAS, ABRFD wishes to finance the costs of renovation, construction and
equipping of a 3,005 square foot fire station addition to be located immediately to the North and
West of the interaction of W. Wimberly Street and N. Broad Street E in the Town of Angier,
North Carolina (the "Project") and, if applicable, to pay certain expenses incurred in connection
with the delivery of the Agreement (as defined below); and
WHEREAS, ABRFD and Fidelity Bank intend to enter into an installment financing
agreement (the "Agreement") whereby Fidelity Bank will advance to ABRFD funds for the
construction of the Project and, if applicable, such related costs; and
WHEREAS, the interest component of the repayment obligations under the Agreement
are intended to be excludable from the gross income of the recipients thereof; and
WHEREAS, pursuant to the Code, the issuance by a "qualified volunteer fire
department" (within the meaning of the Code) of obligations to finance the acquisition,
construction,reconstruction, or improvement of a firehouse(including land which is functionally
related and subordinate thereto) must be approved, after a public hearing required by Sections
150(e)(3) and 147(f) of the Code (collectively, the "Federal Tax Regulations", by the
governmental unit having jurisdiction over the area in which the Project is located;
WHEREAS, the Board of Commissioners, pursuant to public notice duly given, has held
such public hearing in accordance with the Federal Tax Regulations regarding the proposed
transactions of ABRFD contemplated by this Resolution and has considered the comments of all
persons who requested to be heard; and
WHEREAS, the ABRFD has requested that the Board of Commissioners approve
ABRFD's proposed issue in order to satisfy the requirements of the Federal Tax Regulations;
NOW THEREFORE, BE IT RESOLVED by the Board of Commissioners as follows:
1. The Board of Commissioners has held the public hearing and taken the actions set
forth herein in accordance with and in order to satisfy the requirements of the Federal Tax
Regulations in connection with the Project.
2. The Board of Commissioners hereby approves the issuance by ABRFD of its
"qualified volunteer fire department" obligations in accordance with and in order to satisfy the
requirements of the Federal Tax Regulations in a maximum stated principal amount not
exceeding$1,260,000 in connection with the Project.
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3. The issuance by ABRFD of its "qualified volunteer fire department" obligations
does not constitute, directly or indirectly, or contingently obligate or otherwise constitute an
obligation of or a charge against the credit of the County in any way. The County has no legal
responsibility for the payment of the principal of or interest on the "qualified volunteer fire
department"obligations or for any costs incurred by the ABRFD in connection with the Project.
4. The Clerk to the Board of Commissioners is hereby authorized and directed to
provide a certified copy of this resolution to ABRFD and Fidelity Bank.
5. This resolution takes effect upon its adoption.
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STATE OF NORTH CAROLINA )
) SS:
COUNTY OF HARNETT )
I,Lindsey B. Lucas,Interim 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 AUTHORIZING AND APPROVING THE ISSUANCE BY ANGIER & BLACK RIVER
FIRE DEPARTMENT,INC. OF CERTAIN TAX-EXEMPT OBLIGATIONS adopted by the Board
of Commissioners of the County of Harnett, North Carolina, in regular session convened on the 17th day
of May,2021.
WITNESS my hand and the corporate seal of the County of Harnett, North Carolina, this the 17th
day of May,2021.
8, 061U(J2(-)
Lindsey B.Lu s
Interim Clerk to the Board of Commissioners
(SEAL)
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EXTRACT FROM MINUTES OF BOARD OF COMMISSIONERS
The Harnett County Board of Commissioners met in regular session on Monday, May 17, 2021
at 6:00 pm, in the Commissioners Meeting Room, Harnett County Resource Center and Library,
455 McKinney Parkway, Lillington, North Carolina. Due to COVID-19 this meeting was open
to a limited number of the public to attend in person and citizens and staff were provided options
to listen to the meeting live.
Members present: W. Brooks Matthews, Chairman
Lewis W. Weatherspoon, Vice Chairman
Mark B. Johnson, Commissioner
Matt B. Nicol, Commissioner
Staff present: George Wood, Acting County Manager
Coley Price, Assistant County Manager
Dwight Snow, County Attorney
Kimberly Honeycutt, Finance Officer
Lindsey Lucas, Interim Clerk
The Chairman of the Board of Commissioners (the "Board of Commissioners") for the
County of Harnett, North Carolina (the "County") stated that the Board of Commissioners has
been requested by Angier & Black River Fire Department, Inc. ("ABRFD") to approve its
issuance of"qualified volunteer fire department"obligations under the Internal Revenue Code of
1986, as amended (the"Code") in order to finance the costs of renovation, construction and
equipping of a 3,005 square foot fire station addition to be located immediately to the North and
West of the interaction of W. Wimberly Street and N. Broad Street E in the Town of Angier,
North Carolina (the "Project"). The Chairman then stated that a notice of public hearing by the
Board of Commissioners regarding the Project and the proposed issue to finance the Project had
been published on the County's website on May 11, 2021.
Chairman Matthews declared the public hearing open on the Project and the proposed
issue to finance the Project.
At approximately 6:56 p.m., the Chairman announced that the Board of Commissioners
would hear anyone who wished to be heard on the advisability of the Project and the proposed
issue to finance the Project, and that a representative of ABRFD (or other personnel familiar with
the Project)was available and prepared to discuss the details concerning the Project.
The names and addresses of the persons who were present, summaries of their oral
comments and copies of their written comments are set forth as an appendix hereto.
After the Board of Commissioners had heard all persons who requested to be heard, the
Chairman declared the public hearing closed.
Chairman Matthews then introduced the following resolution, the title of which was read
and copies of which had been previously distributed to each Commissioner:
PPAB 6311760v1