BC 1996 02 19 - Laserfiche WebLink

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25 Account No, Present Approved Revised Budget Increase Decrease Budget 01-6-58-05-259 $4,800.00 Env. Health/Childhood Lead Funds 58-05-315 $4,800.00 Env Health/,Childhood Lead Expense $3,600.00 $8,400.00 '$3,600.00 $8,400.00 NEW BUSINESS Addition to Agenda - Closed Session UPON HOTION of Commissioner Fennel, seconded by Chairman Barnhart and unanimously carried, the moved to add a closed session to the agenda to discuss matters relating to the location of expansion of industries or other businesses as authorized by North Carolina General Statute 143-318.11(a)(4) and to consult with counsel as authorized by North Carolina General Statute 143-318.11(a)(3). Cabarrus County Industrial Facilities and Pollution Control Financing.Authority -. S~D Coffee, Inc. Public Hearing - 6;30 P.M, Mr. Fletcher L. Hartsell, Jr., County Attorney, presented .to the Commissioners a copy of a resolution adopted by The Cabarrus County Industrial Facilities and Pollution Control Financing Authority (the "Authority") approving Smith HeIms Mulltss & Moore, L.L.P., a North Carolina law firm, to act as Bond Counsel in connection with bond financings under Chapter 159C of the North Carolina General Statutes. The Commissioners were furnished information as to the qualifications of Smith Helms Mulliss & Moore, L.L.P. to act as Bond Counsel. There followed a general discussion regarding the qualification of the firm of Smith Helms Mulliss & Moore, L.L.P. to act as Bond Counsel. read: Thereafter Chairman Barnhart introduced the following resolution which was RESOLUTION APPROVING THE LAW FIRM OF SMITH. HELMS MULLISS & MOORE, L.L.P. TO ACT AS BOND COUNSEL IN CONNECTION WITH THE ISSUANCE BY THE CABARRUS COUNTY INDUSTRIAL FACILITIES AND POLLUTION CONTROL FINANCING AUTHORITY OF BONDS PURSUANT TO N.C.G.S. CHAPTER 159C. Thereupon, Chairman Barnhart moved the passage of the foregoing resolution and Commissioner Fennel seconded the motion, and the foregoing resolution was passed by the following vote: Ayes: Chairman Barnhart and Commissioners Fennel, Casper, Mills and Niblock Nays: None Mr. Hartsell stated that pursuant to Chapter 159C of the General Statutes of North Carolina and the regulations thereunder he had been advised that the Authority intended to file an application with the Secretary of the Department of Commerce for approval of an industrial and manufacturing project in Cabarrus County, North Carolina for S&D Coffee, Inc., a North Carolina corporation (the "Company"), consisting of the expansion of the Company's existing beverage manufacturing facility through the construction of an approximately 103,000 square foot addition to the Company's existing building, including the acquisition and installation therein of machinery and equipment for the manufacture of beverages (the "Project"), to be located at 300 U.S. Highway 29 South, Concord, Cabarrus County, North Carolina, all or a portion of the cost thereof to be financed by the issuance of not exceeding $9,000,000 aggregate principal amount of qualified small issue industrial revenue bonds of the Authority. Such application for approval cannot, under regulations of the Department of Commerce, be officially received until, among other things, the Board has, by resolution after having held a public hearing, approved the issue of bonds for the proposed Project and approved the Project in principle. Mr. Hartsell presented to the Board copies of the Authority's resolution approving the Project and the inducement agreement between the Authority and the Company. He then stated that a notice had been published by the Clerk to the