7/1/1981 - Laserfiche WebLink

Home Browse Search

• 80-OK 46 FA nF 158 MR, NICKENS-STATED THAT THE TAX ROLLS DO REFLECT THE PROPERTY THAT IS PURCHASED WITH THE INDUSTRIAL REVENUE BONDS, AND THE TAXES ARE PAID JUST LIKE A MORTGAGE — THE TITLE NEVER TRANSFERS TO THE COUNTY UNTIL THE BONDS ARE PAID. MORE DISCUSSION FOLLOWED ABOUT THE CREATION OF AN AUTHORITY, AND ATTORNEY COLLINS INDICATED THE STATUTES STATE THE BOARD MUST CREATE THIS AUTHORITY BEFORE THE PROGRAM CAN PROCEED. COMMISSIONER WODTKE INQUIRED WHO WERE GENERALLY THE BUYERS OF THIS TYPE OF'BOND ISSUE. MR, NICKENS ADVISED THAT THEY ARE USUALLY HANDLED BY THE LOCAL BANKS IN CONJUNCTION WITH INSURANCE COMPANIES — THE BONDS ARE ISSUED TAX FREE, DUE TO THE COUNTY'S EFFORT IN THE PROGRAM. COMMISSIONER WODTKE THOUGHT RAMPMASTERS WAS A VERY GOOD TYPE OF INDUSTRY FOR THE COUNTY TO. HAVE, AND FELT THE BOARD COULD SIT AS AN AUTHORITY FOR A PERIOD OF TIME IF THERE WOULD NOT BE T00 MUCH INVOLVEMENT. HE WANTED TO INDICATE TO RAMPMASTERS THAT THE BOARD WAS RECEPTIVE TO THEM. MR. NORTON STATED THAT MR. DAVIS HAD A BUYER FOR THEIR BONDS AND THE BANK WAS READY TO TAKE OVER THEIR BOND ISSUE. AGAIN HE URGED THE BOARD,TO ACT AS THE BONDING AUTHORITY AND GIVE A LETTER OF INTENT TO RAMPMASTER SO THAT MR, DAVIS COULD BEGIN THE PROCESS OF MOVING HIS FACILITY TO THIS COUNTY. ATTORNEY COLLINS STATED THAT THE BOARD'S FUNCTION WAS TO DECLARE A NEED FOR THIS PROGRAM BY RESOLUTION, AND HE DID NOT THINK THE BOARD WAS IN ANY POSITION TO GIVE ASSURANCE TO A BONDING COMPANY NOW, BUT COULD INDICATE THEIR INTENTION. COMMISSIONER SCURLOCK COMMENTED THAT HE DID NOT WANT TO RUSH WHEN SOMETHING OF THIS MAGNITUDE WAS BEING CONSIDERED. MOTION WAS MADE BY COMMISSIONER WODTKE, SECONDED BY COMMIS— SIONER SCURLOCK, FOR THE BOARD TO ADOPT RESOLUTION 81-44 TO MAKE A DETERMINATION THAT THERE WAS A NEED FOR AN INDUSTRIAL DEVELOPMENT AUTHORITY, THAT IT WAS THE BOARD'S INTENTION TO ACT AS THAT AUTHORITY,