BC 1995 12 18 - Laserfiche WebLink

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610 First Union National Bank Branch Banking & Trust 10 Years 12 Years 15 Years 4.29% 4.33% 4.39% 4.67% 4.96% 5.09% He recommended that the Board accept the lowest fixed rate of 4.29 percent for 10 years as submitted by First Union National Bank for financing the $9.9 million for the construction of the Rocky River Elementary School. At 7:16 P.M., Chairman Barnhart opened the public hearing concerning the bank bids and terms of the financing and asked if anyone were present who wished to address the Board regarding these proposals. There was no one present to address the Board, and Chairman Barnhart closed the public hearing. UPON MOTION of Commissioner Fennel, seconded by Commissioner Niblock and unanimously carried, the Board accepted the low bid from First Union National Bank with an interest rate of 4.29 percent for ten (10) years for the financing of the construction of the Rocky River Elementary School and authorized Chairman Barnhart to execute the finalized lease agreement upon the closing of the loan for the Rocky River Elementary School. Road Closing Request - Portion of Northside Avenue ~ Public Hearing - 7:00 P.M. Chairman Barnhart stated that this was date and time for a public hearing on the proposed closing of a portion of Northside Avenue in Midland. Comar Industries, Inc., which owns the property adjoining Northside Avenue, had petitioned to close the road. Chairman Barnhart opened the public hearing and asked if anyone were present who wished to speak either for or against the proposed road closing. Mr. Robert McCoy of Midland opposed the closing of a portion of Northside Avenue, stating it would block access to his property as well as other property in the area. Further, he objected to closing the road to enhance the marketable value of the adjoining property. Mr. Hartsell presented a letter from Mr. James L. Field, Executive Vice President of Comar Industries, Inc., stating his inability to attend the public hearing on this date and his willingness to attend a later meeting to discuss the request. According to the letter, the closing of the street will not impair anyone's access to their property but will enhance the company's ability to sell the existing facility and property for industrial use. In response to questions, Mr. Hartsell explained that Northside Avenue is shown on the recorded plat for the area. However, he stated that the street has never been opened to the public nor accepted by the Department of Transportation. There was no one else present to address the Board, and Chairman Barnhart closed the public hearing. Chairman Barnhart asked Commissioners Fennel and Niblock to look into the road closing request and to make a recommendation to the Board. UPON MOTION of Chairman Barnhart, seconded by Commissioner Fennel and unanimously carried, the Board authorized the advertising of a supplemental public hearing on the request to close a portion of Northside Avenue for the second meeting in January at 7:00 P.M. Resolution to Change the Regular Meeting Schedule for January, 1996 UPON MOTION of Commissioner Fennel, seconded by Commissioner Niblock and unanimously carried, the Board by resolution canceled its first meeting in January scheduled for January 1, 1996 and changed its second meeting in January from 6:30 P.M. on Monday, January 15, to 6:30 P.M. on Tuesday, January 16, 1996. Appointments - Department of Aging Advisory Board (5) Commissioner Niblock made a motion to accept the recommendation of the Department of Aging Advisory Board for the appointment of the following persons