BC 1984 02 20 - Laserfiche WebLink

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495 WHEREAS, the Board desires to approve the Project in principle; NOW, THEREFORE, BE IT RESOLVED by the Board as follows: 1. The issuance of revenue bonds by the Authority to finance the Project is hereby approved. 2. The Project is hereby approved in principle. 3. The Clerk of the Board is hereby authorized and directed to provide a certified copy of this resolution to the Department. 4. This resolution shall take effect immediately upon its passage. Commissioner Milloway moved the passage of the foregoing resolution entitled "RESOLUTION APPROVING THE ISSUANCE OF UP TO $3,800,000 INDUSTRIAL REVENUE BONDS OF THE CABARRUS COUNTY INDUSTRIAL FACILITIES AND POLLUTION CONTROL FINANCING AUTHORITY TO FINANCE AN INDUSTRIAL PROJECT FOR NC PLASTICS, INC." and Commissioner Barnhardt seconded the motion, and the resolution was passed by the following vote: Ayes: Commissioners Lentz, Barnhardt, Nash, Milloway and Payne Noes: None EXHIBIT A i Names and Addresses of Persons Present at Public Hearing and Summary of Their Comments: Mr. Rusty Shealy explained the project. UPON MOTION of Commissioner Milloway, seconded by Commissioner Nash and unanimously carried, the Board designated Citizens National Bank or its successor and Northwestern Bank as the official depositories for County funds. Mr. Bill Bonny, Chairman of the Cabarrus County Water and Sewer Study Commission, reviewed the "Report of the Cabarrus County Water and Sewer Study Commission." The general conclusions of the report are as follows. The proposed bond referendum for water line extensions is a reasonable first step in providing an important component of the infrastructure for residential and industrial growth. o Cabarrus County should act as a lead agency in coordinating efforts to provide water and sewer resources throughout the county. Over the next two decades, Cabarrus County will experience growth pressures largely coming from its close proximity t6 Mecklenburg County and more specifically from its close proximity to the burgeoning growth in the northeastern portion of Mecklenburg County. Growth pressures are more likely to be experienced by the western townships of Cabarrus County, which are the ones most closely related to Mecklenburg County. Much of the pressure will be for residential development but employ- ment opportunities will also occur if infrastructure demands by industries can be provided by the County. In addition, growth that has occurred in the county has led to a deterioration in the quality of water available to the citizens of the county. o Whether or not the bond referendum is passed, the County needs to devise'a program for the implementation of the comprehensive water and sewer facilities plan.