Harnett County Board of Commissioners Work Sessiontreefree.harnett.org/weblink/0/edoc/4525687... ·...

9:00am

9:15am

9:45am

10:00 am

10:15 am

10:30 am

!1:15am

11:30 am

Harnett County Board of Commissioners

Work Session

Tuesday, February 9, 2016

9:00am

Cooperative Extension COLA Discussion, Cooperative Extension Director Tyrone Fisher

Funding for DNA testing in criminal cases, Major Gary C. McNeill

Campbell University's request for two Harnett County EMS crews on site for Big South Basketball Tournament games, Emergency Services Director Jimmy Riddle

Public Utilities Debt Payoff discussion, Finance Officer Kimberly Honeycutt

County Manager's Report: -Town of Erwin's request to fund their Depot project -February 15, 2016 Regular Meeting Agenda Review

Closed Session

Update on new Benhaven School, Superintendent Stan Williams

Adjourn

020916wsa HC BOC

Gina Wheeler

From: Tyrone Fisher Sent: Wednesday, January 27, 2016 10:53 AM To:

Cc:

Abe Elmore; Abe Elmore-External; Barbara McKoy; Barbara McKay-External; Brian Haney; Dwight Snow; Gina Wheeler; Gordon Springle; Jim Burgin; Joe Miller; Joseph Jeffries; Paula Stewart Nikki Kurdys

Subject: Cooperative Extension County COLA Discussion HarnettCoopExtFiowChartFundingwithPosition010116.doc; HarnettCoopExtFiowChartProgramswithPosition010116.doc

Attachments:

Importance: High

Great discussion yesterday, hopefully we can get on the same page, look forward to a resolution.

Attached Cooperative Extension Program and Funding Flow Charts as well as our MOU

To follow-up from questions from yesterday

1) Example using simple #s current involving COLA:

County Employee, $100,000, 2% County COLA, New Salary $102,000

County/State Split Employee, 50%/50%, $100,000, 2% County COLA, New Salary, $101,000

County/State Split Employee, 70%/30%, $100,000, 2% County COLA, New Salary, $101,400

Even if you add the "one-time" state bonus of $750, the "county" employee still has a better benefit over the long-term.

2) Recently, the state raised the salary of a county/state position that was below entry level. The position was 70% County- 30% State, the new calculation is now 69% County- 31% State, the percentage changed and the state did not ask the county to give more, the state increased their funding to meet this need, the county still pays the same dollar amount.

Within the last six months, 46 of the eligible 63 "send-in" counties have given county COLAs to county/state split positions.

As oftoday, there are 37 "lock-in" counties, please review Section 8 of the MOU, this may be a resolution ifthe county COLA is not approved.

Call me, reply, or stop by to discuss more if needed.

I am making plans for a NCSU representative to join me at the February gth work session.

1 020916wsa HC BOC

Harnett County Cooperative Extension Organizational Chart Program Areas

Debbie Byrd

Greg Huneycutt

JudyM. D'Eredita

(Area)

. .

Debbie Stephenson Yvonne Ormond

Melanie Graham

[ · CRD (1) )j

r.;::l ~

Lauren ] McDowell

.- ' Shelly L- Humphrey

FamUy& 11 Consumer

Sciences (8)

- :..:_)

Patricia McKoy

Jackie Helton

Christina Jolly

Alia Langdon· Williford

020916wsa HC BOC

,.

Harnett County Cooperative Extension Organizational Chart Funding Resources

~ '·:

. ~

~

·.~"'> •. ~·· . ;

[ ·-----., ~

Debbie Byrd Teens as Parents

D

. . . . ..

Melanie Graham Parents as Teachers

l Private (1)

_j

Lauren McDowell Childcare Coordinator

Ll ~""=- 1 1 Patricia McKoy

4·H Program Assistant

tOO% County (2)

Alia Langdon·WIIUront 4-H Teen Court

020916wsa HC BOC

Office of the Sheriff of Harnett County Sheriff Larry Rollins

PO Box 399 175 Bain Street, Lillington, NC 27546

Phone: 910-893-9111; Fax: 910-893-6450

TO: Harnett County Board of Commissioners

DATE: Feb. 3, 2016

REFERENCE: Using DNA to Solve Crimes

The past decade has seen great advances in a powerful criminal justice tool: deoxyribonucleic acid, or DNA. DNA can be used to identify criminals with incredible accuracy when biological evidence exists. By the same token, DNA can be used to clear suspects and exonerate persons mistakenly accused or convicted of crimes. In all, DNA technology is increasingly vital to ensuring accuracy and fairness in the criminal justice system

Harnett County already has had success using NMS Lab to develop DNA to solve crimes and assist in the investigation of cold cases. We have two cold cases that NMS lab has develop partial DNA profiles which the SBI lab had not developed. In one case, Christine Poole Homicide in 1997, NMS Lab was able to develop partial profile which eliminated several of the individuals that were on the suspect list. In the Floyd Blalock from 1989, NMS Lab was able to locate a partial DNA profile that the SBI Lab was did not develop. In a 2011 Homicide, we submitted evidence that the SBI Lab had not tested. NMS lab developed a DNA profile and matched it to the suspect in the case.

News stories extolling the successful use ofDNA to solve crimes abound. For example, in 1999, New York authorities linked a man through DNA evidence to at least 22 sexual assaults and robberies that had terrorized the city. In 2002, authorities in Philadelphia, Pennsylvania, and Fort Collins, Colorado, used DNA evidence to link and solve a series of crimes (rapes and a murder) perpetrated by the same individual. In the 2001 "Green River" killings, DNA evidence provided a major breakthrough in a series of crimes that had remained unsolved for years despite a large law enforcement task force and a $15 million investigation.

DNA is generally used to solve crimes in one oftwo ways. In cases where a suspect is identified, a sample of that person's DNA can be compared to evidence from the crime scene. The results of this comparison may help establish whether the suspect committed the crime. In cases where a suspect has not yet been identified, biological evidence from the crime scene can be analyzed and compared to offender profiles in DNA databases to help identify the perpetrator. Crime scene evidence can also be linked to other crime scenes through the use of DNA databases.

For example, assume that a man was convicted of sexual assault. At the time of his conviction, he was required to provide a sample of his DNA, and the resulting DNA profile was entered into a DNA database. Several years later, another sexual assault was committed. A Sexual Assault Nurse Examiner worked with the victim and was able to obtain biological evidence from the rape. This evidence was analyzed, the resulting profile was run against a DNA database, and a match was made to the man's DNA profile. He was apprehended, tried, and sentenced for his second crime. In this hypothetical case, he was also prevented from committing other crimes during the period of his incarceration.

020916wsa HC BOC

Office of the Sheriff of Harnett County Sheriff Larry Rollins

PO Box 599 175 Bain Street, Lillington, NC 27546

Phone: 910-895-9111; Fax: 910-895-6450

DNA evidence is generally linked to DNA offender profiles through DNA databases. In the late 1980s, the federal government laid the groundwork for a system of national, state, and local DNA databases for the storage and exchange of DNA profiles. This system, called the Combined DNA Index System (CODIS), maintains DNA profiles obtained under the federal, state, and local systems in a set of databases that are available to law enforcement agencies across the country for law enforcement purposes. COD IS can compare crime scene evidence to a database of DNA profiles obtained from convicted offenders. CODIS can also link DNA evidence obtained from different crime scenes, thereby identifying serial criminals.

In order to take advantage of the investigative potential of COD IS, in the late 1980s and early 1990s, states began passing laws requiring offenders convicted of certain offenses to provide DNA samples. Currently all 50 states and the federal government have laws requiring that DNA samples be collected from some categories of offenders.

When used to its full potential, DNA evidence will help solve and may even prevent some of the Nation' s most serious violent crimes. However, the current federal and state DNA collection and analysis system needs improvement:

(1) In many instances, public crime labs are overwhelmed by backlogs of unanalyzed DNA samples.

(2) In addition, these labs may be ill-equipped to handle the increasing influx of DNA samples and evidence. The problems of backlogs and lack of up-to-date technology result in significant delays in the administration of justice.

The Harnett County Detective Division will present a presentation that will highlight the advantages in using ofNMS lab to assist in the investigation of crimes in Harnett County.

020916wsa HC BOC

CAMPBELL U N V E R S

January 27, 2016

Mr. Joseph Jeffries Harnett County Manager 102 East Front Street Lillington, NC 27546

Dear Mr. Jeffries:

T y

RECEIVED FEB 0 2 201~ HARNETT COUNTY

MANAGER'S OFFICE

Office of the Vice President for Business and Treasurer

As you are aware, Campbell University is the host site for this year's Big South Basketball Tournament. It will be held in Buies Creek from March 3-6. There will be 10 games during this time frame. We respectfully request Harnett County provide two EMS crews on site for each of the tournament games at no cost to the University. We work closely with the Buies Creek Fire and Rescue and they are wonderful to work with throughout the season. We would hope the County would cover these costs since so many people will be here from out of the area and staying in motels throughout the county.

These dates and times are included below for your use.

March 3 March 4 March 5 March 6

1:00 pm until10:00 pm 11:00 AM until midnight Noon until 7:00 pm 1:30pm

(3 games beginning at 2:00pm; 4:30 pm; 7:00 pm) (4 games beginning at Noon; 2:30 pm; 6:00 pm and 8:30 pm) (2 games beginning at 1:00 pm and 4:00 pm) (1 game starting at 2:30 pm)

We thank the county for all the many things they do as partners with Campbell University. This is a very special event bringing thousands of people to our county. In case of emergency we want to put out best foot forward. Contact me if you need additional information. I look forward to hearing from you soon.

Sincerely,

President for Business and Treasurer

cc: Mr. Bob Roller, Athletics Director

PO Box 97 • Buies Creek, Norrh Carolina 27506 • (9 10) 893-1240 www.campbell.edu

020916wsa HC BOC

Potential Payoff of Public Utility Debt

Harnett County, North Carolina

Harnett COUNTY

flP ~ CARO~INA

December 22. 2015

DAVENPORT & CoMPANY IV )1 <;[,ifi'J .. AS/P, 020916wsa HC BOC

Overview of Potential Payoff of Public Utility Debt -Harnett COUNTY

• The County may want to consider paying off a number of its outstanding Public Utilities loans as a potential investment opportunity.

--Candidate Interest Rate Par Amount Outstanding Final Maturity Call Date -

1 1996 Expansion of Water Treatment Plant- State Bond Loan 1 5.850% $150,000.00 5/ 1/2016 Current

2 1997 Expansion of Water Treatment Plant- State Bond Loan 1 3.215% $300,000.00 5/1/2017 Current

3 1998 Southwest Water & Sewer District- State Bond Loan 1 3.430% $282,420.99 5/1/2017 Current

4 2001 Harnett 1 Wake Transmission Line - State Bond Loan 1 5.250% $216.011.75 5/ 1/2020 Current - _., ____ -5 2003 Southwest Reg1onallll -State Bond Loan 1 4.020% $368,421.04 5/1/2022 Current

6 2004 IPC {Wells Fargo):> 4.510% $560.000.00 6/ 1/2019 6/8/2016 ~- - --

7 2004 South Central Bunnlevel Riverside Refundmg GO 5.000%- 5.250% $390,000.00 6/ 1/2028 Current

For purposes of thiS analySIS. the County State Bond Loans are assumed to be callable at any t1me at par. Further 1nformat1on on the call prov1s1ons IS requ 1red to refllle thiS analySIS.

7 The County's San1tary Sewer IPC w1th Wells Fargo IS not callable until June 8. 2016. Conf1rmat1on of th1s cal l prov1s1on should be confirmed w1th Wells Fargo.

Call Price

100%

100%

100%

100% --100%

101%

100%

DAVENPORT&COMPANY------------------------------------------------------------------------------------------)~'~"rmber 22 201'5 ar'let• Countv NC 1

020916wsa HC BOC

Payoff Savings - Total Harnett COUNTY

Loan 1996- SBL 1997 - SBL 1998 - SBL 2001- SBL 2003 - SBL 2004- IPC 2004- GO Tota l -- -----

Sources of Funds -FY 2016 Budget $ 150,613.02 $ 154.822.50 $ 146,054.05 $ 48.872.66 $ 60,036.84 $ 152,628.00 $ 34,900.00 $ 747.927.07

Additional Equ1ty Investment 148.044.21 139.246.14 170.509.77 312.786.22 425.968.32 359.335.00 1.555.889.66

Total Cash Payoff $ 150,613.02 $ 302,866.71 $ 285,300.19 $ 219,382.43 $ 372,823.06 $ 578,596.32 $ 394,235.00 $ 2,303,816.73

Uses of Funds

Par Amount $ 150,000.00 $ 300.000.00 $ 282,420.99 $ 216.011.75 $ 368,421.04 $ 560,000.00 $ 390,000.00 $ 2,266,853.78

Accrued Interest 613.02 2.866.71 2.879.20 3.370.68 4.402.02 12.996.32 4.235.00 31.362.95

Prepayment Penalty 5,600.00 5.600.00

Total Uses of Funds $ 150.613.02 $ 302.866.71 $ 285,300.19 $ 219,382.43 $ 372,823.06 $ 578,596.32 $ 3 94.235.00 $ 2.303,81 6.73

-- ---Bonds Refunded

Amount $ 150,000.00 $ 300,000.00 $ 282.420.99 $ 216,011.75 $ 368,421.04 $ 560,000.00 $ 390.000.00 $ 2.266,853. 78 Mat unties 5/1/2016 5/1/16- 5/1/17 5/l./16- 5/1/17 5/1/ 16- 5/ 1/20 5/1/16- 5/ 1/ 22 6/ 1/16- 6/ 1/19 6/1/16. 6/1/28 NjA

Coupon(s) 5.85% 3.22% 3.43')1, 5.25% 4.02% 4.51% 5.00% - 5.25% N/A Ca ll Date Current Current Current Current Current 42529 Current N/A Call Pnce 100% 100% 100% 100% 100% 101% 100% N/A

Net Savings 1

- --- - -Fiscal Year

2016 $ 3,254.87 $ {149.089.10) $ (140.230.43) $ {171.266.64) $ {314.072.46) $ {427.964.48) $ (360.695.11) $ {1.560.063.35) 2017 152.732.72 144.085.40 50.761.11 62.753.84 154.949.68 40.829.78 606.112.53

2018 48.492.99 60,638.04 148,635.68 39,579.78 297,346.49

2019 46.224.85 58.522.26 142.321.68 43.329.78 290.398.57 2020 43.956.73 56.406.46 41.829.78 142,192.97 2021 54.290.68 40 .329.78 94.620.46 2022 52.174.86 38.754.78 90.929.64 2023 37.179.78 37.179.78 2024 35.604.78 35,604.78 2025 34.029.78 34.029.78

- - - - -2026 37.529.78 37.529.78 -2027 35.779.78 35.779.78 2028 34.029.78 34,029.78 Total $ 3.254.87 $ 3,643.62 $ 3,854.97 $ 18.169.04 $ 30,713.68 $ 17,94 2.56 $ 98.112.25 $ 175,690.99

Net Present Value Savings $ 3.254.87 $ 3.643.62 $ 3.854.97 $ 18.169.04 $ 30.713.68 $ 17,942.56 $ 98.112.25 $ 175,690.99 Net Present Value % Savings 2.17"4 1 .21% 1.36'!t 8.41% 8.34% 3.20% 25.16% 7.75%

Est1mated Earnmgs Rate" 5.16% 2.53% 2.74% 4.56% 3.33% 3.82% 4.31% N/A lnclu0c5- rorf>gon<> mvcstmcnl earn•ngs h.:tvc been calculated based on lhe 1-Year Treasury as or DecPmber 15th 10.69 ).

'Estlm;)tPd b,Jc;;Pd on lnt<>r<'SI r,"lte duE' on Oonds IPss foq~on~ •nvE>stment earnmf!_c; rate of 1-Year Treasury.

1\Jote: Msurnf's <t p:1yoff date of 2/lR/16

[)AVENPORT&COMPANY-----------------------------------------------------------------------------------------I)• .r:e·nber :?2. ?0 L ') 1-la rnett Cot. '1t\. :\JC 2

020916wsa HC BOC

Payoff Savings- 1996 Expansion of Water Treatment Plant

Sources of Funds

FY 2016 Budget

Additional Equ1ty Investment

Total Cash Payoff

Uses of Funds

Par Amount

Accrued Interest

Prepayment Penalty

Tota I Uses of Funds

Bonds Refunded

Amount

Matunt1es

Coupon(sl

Call Date

Call Price

Savings

$ 150,613.02

$ 150,613.02

$ 150.000.00

613.02

$ 150,613.02

$ 150,000.00

5/1/2016 5.85%

Current

100%

Fiscal Year Cash Payoff Debt Service Gross

Savings

Forgone Investment Net Savings

2016 2017

2018 2019

2020 2021 2022

2023

2024

2025 2026

2027

2028 Total

Net Present Value Savings

Net Present Value% Savmgs

Est1mated Earn1ngs Rate2

Savings

$ (150,613.02) $ 154,387.50 $ 3,774.48 $

$ (150,613.02) $154.387.50 $3,774.48 $

Forrgone mvcstmcnt earnings have been calculated based on the l·YcJr Tr'casul)' as of Occcrnbcr 15th 10.69 ~-).

E.stunated baC>ed on mtNe"t r<'Hf' due on bonds IPSs forgone 1nvestnwnt Pttrnmgs ratt! uf l·Year Treasurv.

Note: A-<Jsurncs n fk'WOff date of 2/18/16

Earnings 1

.:::._51-9-_6_1_$ 3.254.87

519.61 $ 3.254.87 $ 3,254.87

2.17%

5.16%

Harnett COUNTY

[)AVENPORT&COMPANY -----------------------------------------------------------------------------------------I)• :C('IT'J:Ir;r 2L. _·() -- Hil '"Att Co I '1tl NC 3

020916wsa HC BOC

Payoff Savings- 1997 Expansion of Water Treatment Plant

Sources of Funds

FY 2016 Budget

Additional Equity Investment

Total Cash Payoff

Uses of Funds

Par Amount

Accrued Interest

Pre payment Penalty

Total Uses of Funds

Bonds Refunded

Amount

Matunt1es

Coupon(s)

Call Date

Call Price

Savings

$ 154.822.50

148.044.21

$ 302,866.71

$ 300.000.00

2.866.71

$ 302,866.71

$ 300.000.00

5/1/16-5/ 1/ 17 3.215% Current

100%

Fiscal Year Cash Payoff Debt Service

Savings Gross Savings


2016 2017

2018

2019 2020

2021

2022 2023

2024

2025 2026 2027

2028 Total


Net Present Value % Savmgs

Est1mated Earn1ngs Rate2

$ (302,866.71) $ 154,822.50

154.822.50

$ (148,044.21) $

154.822.50

$ (302,866. 71) $ 309.645.00 $ 6, 778.29 $

1 Foregone '""cs1mcn1 carnmgs have been ralculatcd based on thC' l·YC'ar Treasury as of Dcccrnbcr 15th (0.69 ~ ).

Est1mated based on mterest rat€' due on bond~ less forgone mvcstment earn 1ngs ratP of 1-'rear Treasury.

Note: Assumes a payoH date of 2/ 18/ 16

Earnings 1

1.044.89

2 .089.78

$ (149.089.10)

3,134.67 $ $

152.732.72

3.643.62

3.643.62 1.21%

2.53%

Harnett COUNTY

[)AVENPORT&COMPANY------------------------------------------------------------------------------------------'l9C·"'110"lr 2:·. 20' 5 t-iar"ett CC.J'1'\ . NC 4

020916wsa HC BOC

Payoff Savings- 1998 Southwest Water & Sewer District

Sources of Funds

FY 2016 Budget

AdditiOnal Equ1ty Investment

Tota l Cash Payoff

Uses of Funds

Par Amount

Accrued Interest

Prepayment Penalty

Total Uses of Funds

Bonds Refunded

Amount

Matun\les

Coupon(s)

Call Date

Call Pnce

Savings

$ 146.054.05

139.246.14

$ 285,300.19

$ 282.420.99 2.879.20

$ 2 8 5,300.19

$ 282.420.99

5/1/16. 5/1/17 3.43%

Current

100%




2016 2017

2018 2019

2020 2021

2022

2023 2024

2025

2026 2027

2028

Total

Net Present Value Sav1ngs

Net Present Value · Sav1ngs

Est1mated Earn1ngs Rate'

$ (285,300.19) s 146.054.05 $ (139,246.14) $

146.053.98 146.053.98

$ (285,300.19 ) $292.108.03 $ 6,807.84 $

Fcrq?,onc •nvcstmCtlt f'<trnlf'• have ocrn f,liCul:.tcd ba-;cd on the 1-Ycar Treasury~ of Occe•l'IX'r 15'h f0.69 ).

ES11rfl~tf'd basN ~"'In .ntf'lf!"''tt ratP dtJ(' ort honds l{W)~ forgone tnvestmPfl:. eafn : n~c; r-HP of 1 'Ira~ Trf'asury.

1\otr· A..'>svm~ a p:1yotr d.1'f' of 2/lk· 16

Earnings1

984.29 $ (140.230.43)

1.968.58

2,952.87 $

$

144.085.40

3,854.97

3.854.97 1.36'>

2.74~

-Harnett COUNTY

[)AVENPORT&COMPANY-----------------------------------------------------------------------------------------,.·c('r,ht>r "'2 ?01"1 H .;ntv. NC s 020916wsa HC BOC

Payoff Savings- 2001 Harnett I Wake Transmission Line

DAvENPORT & CoMPANY

Sources of Funds

FY 2016 Budget

Addit ional EqUity Investment

Total Cash Payof f

Uses of Funds

Par Amount

Accruecl Interest

Prepayment Penalty

Total Uses of Funds

Bonds Refunded

Amount

Matuntu?s

Coupon(s)

Call Date

Call Price

- ---

$ 48.872.66

170,509.77

$ 219,382.43

--

$ 216,011.75

3 .370 .68

$ 219,382.43

---$ 216.011.75

5/1/ 16- 5/1/ 20

5.25%

Current

100%

Saving~

Fiscal Year Cash Payoff Debt Serv ice

Gross Savings Forgone Investment

Net Savings Savings

$ (219,382.43) $ 48.872.66 $ (1 70,509.77) $

52.274.85 52.274.85

50.006.73 50,006.73

47.738.59 4 7.738.59

45.470.4 7 45.470.47

2016

2017

2018

2019

2020

2021

2022

2023

2024

2025

2026

2027

2028

Total $ (219,382 .43 ) $24 4,363.30 $ 24,980.87 $

Net Present Va lue Savings

Net Present Va lue% Sav1ngs

Estimated Earn1ngs Rate2

Forq~Or'IC •nw·:~t rnC'·H cttrn1ngs M\·C been calcuiMcd based on the 1-Yc.:tr Treasury a<:. of December 15th (0.69 ' 1.

Est1111ated ba~cd on Interest rate dUE' on bondS less forgone mvt-stnwnt PC~rmng<> r;:~t p of l ·Yf'ar Treasury.

Note: Assumes a payoff date of 2/18i 16

O•.<.c nl,er 22. 201!)

Earnings1

756.87 $ (171,266.64)

1.513.74 50.761.11

1,513.74 48.492.99

1.513.74 46 ,224.85

1.513.74 43,956.73

6,811.83 $ 18,169.04

$ 18.169.04

8 .41%

4.5 6%

Harnett COUNTY

.31. et, Cou·':~ . "lC r:: 020916wsa HC BOC

Payoff Savings - 2003 Southwest Regional III

Sources of Funds

FY 2016 Budget

Add1t1onal EqUity Investment

Total Cash Payoff

Uses of Funds

Pa1 Amount

Accrued lnteresl

Prepayment Penalty Total Uses of Funds

Bonds Refunded - - -Amount Matunt1cs Coupon(s)

Call Date Call Pnce

Savi~gs

Fiscal Year

2016

2017 2018 2019 2020

2021 2022 2023 2024 2025 2026 2027 2028

$

Cash Payoff Debt Service

Savmgs

(372,823.06) $ 60,036.84 65.326.32

63.210.52 61.094.74 58.978.94 56.863.16 54,747.34


Earnmgs1

$ (312,786.22) $ 1.286.24 65.326.32 2.572.48

63.210.52 2.572.48 61.094.74 2.572.48 58,978.94 2.572.48 56.863.16 2.572.48 54,747.34 2,572.48

$ 60,036.84

312.786.22 $ 372,823.06

$ 368.421.04 4.402.02

$ 372,823.06

$ 368.421.04 5/1/16. 5/ 1/ 22

4.02% Current

100%

Net Savings

$ (314.072.46) 62.753.84 60,638.04 58.522.26 56,406.46

54.290.68 52,174.86

Total $ (372,823.06) $ 420,25 7.86 $ 4 7,434.80 $ 16,721.12 $ 30,713.68 Net Present Value Sav1ngs

Net Present Value Savmgs

Est1mated Earn1ngs Rate' Foregone nH'<;tm 'll f' '"''"' hav~ OC' r n calcul,)tCd based oo I he l ·Y...,.tr Trca<.urv it"> of 0{'(Cmbcr l !")Th (0.6~ .. r ). Est,nMtt-rl OOsed on •ntNf"'. t li11f" •i'IP on bondi lf'S.S f or~ooe tnvcstmf>flt Pbrn•ngs rat~ lli 1-'H•ar .,.rrasory,

l\otc: A..sstJmc.., a payof' d.·v~ of 7/ lH' l G

$ 30,713.68 8.34

3.33 x

Harnett COUN TY

DAVENPORT&COMPANY---------------------------------------------------------------------------------------f'"lbE'' 22 ::>fl·' '> f-I·Jr"lett Count1 NC !

020916wsa HC BOC

Payoff Savings- 2004 IPC (Wells Fargo)

Sources of Funds -- ·..;.:.:;.. _______________________ _ FY 2016 Budget $ 152.628.00 Add1t1onal Equ1ty Investment 425.968.32

Total Cash Payoff $ 578,596.32

Uses of Funds

Pa1 Amount

Accrued Interest

Prepayment Penalty

Tot a I Uses of Funds

Bonds Refunded

Amount

Matunt1cs

Coupon(s}

Call Date

Call Price

Sav~gs

$ 560.000.00 12.996.32

5,600.00 $ 578,596.32

$ 560.000.00 6/1/16-6/1/ 19

4.51% 6/8/2016

10V~,



Net Savings Savings

$ (578,596.32} $ 152.628.00 $ (425.968.32} $

158.942.00 158.942.00 152.628.00 152,628.00 146.314.00 146.314.00

2016 2017 2018 2019 2020 2021 2022

2023 2024 2025 2026 2027

2028 Total $ (578.596.32} $610,512.00 $31.915.68 $

Net Present Value Sav1ngs

Net Present V<:~luc Sav1ngs

Estimated Earn1ngs Rate

For~onr- •0\CSIITlcnt car"'"'·~ 1'\;l\'( OC<'f\ calrulrtlcd based oo the 1-Ycar TrccJ'>Uf\1' as of December 1'3~h (0.69 ·,),

[SI•fl"tat('<f basf"d M JOtt'fC~I rillf!' du~· on bon<k I("<;)S forgont> .nv~tml;'flt earn:.ngs r<ttt• nf 1-\ot>ar Trc~t.ry.

Note: A_o;;cam1cs a pa~of' date of 2/1&.'16

Earnmgs1

1,996.16 $ (427.964.48} 3.992.32 154.949.68

3.992.32 148.635.68

3.992.32 142.321.68

13.973.12 $ 17,942.56 $ 17.942.56

3.20o/

3.82%

Harnett COUNTY

DAVENPORT&COMPANY------------------------------------------------------------------------------------------, . . r( '"' be• 72 20 lS HJrnl'tt Countv. f\/C 8

020916wsa HC BOC

Payoff Savings - 2004 South Central Bunnlevel Riverside GO Harnett

Sources of Funds

FY 2016 Budget $ 34,900.00

Additional Equity Investment 359.335.00 Total Cash Payoff $ 394,235.00

Uses of Funds

Par Amount

Accrued Interest

Prepayment Penalty

Tota l Uses of Funds

Bonds Refunded

Amount

Maturit1es

Coupon(s)

Call Date

Call Price

~vin~s



Forgone Investment

2016 2017 2018

2019 2020 2021

2022 2023

2024

2025 2026

2027

2028 Total


Net Present Value% Sav1ngs

Estimated Eammgs Rate2

$ (394,235.00) $ 34.900.00

43.550.00 42.300.00 46.050.00

44.550.00 43.050.00

4 1.475.00

39.900.00 38,325.00

36.750.00 40,250.00

38.500.00

36,750.00 $ (394,235.00) $ 526,350.00

$ (359.335.00) $

43.550.00

42,300.00 46.050.00

44.550.00

43.050.00 4 1,475.00

39.900.00 38,325.00

36.750.00 40,250.00 38.500.00

36,750.00 $ 132,115.00 $

1 For0gone mvcstment C'ammgs have been calculated based on the l·Ycar Trcasul)' as of DccC'mOCr 15th t 0.69'.~'' ·

[sumatrd based on mterest rate due on bonds less forgonf' Investment earnmg;s rate of l ·Year Treasur~.

Note; Assumes a payo1f date of 2/18/16

Earnings1

1 ,360.11 2.720.22

2,720.22

2.720.22 2,720.22

2.720.22 2,720.22

2.720.22 2,720.22

2.720.22 2,720.22

2,720.22

2,720.22

34,002.75

$ 390,000.00

4.235.00

$ 394,235.00

$ 390,000.00

6/1/16- 6/1/28 5.00%- 5.25%

Current

100%

Net Savings

- ---$ (360. 695.11)

40,829.78

39,579.78

43.329.78 41.829.78

40.329.78

38,754.78 37.179.78

35,604.78 34.029.78

37,529.78

35.779.78

34,029.78 $ 98,112.25

$ 98.112.25 25.16°1.

4.31%

COUNTY

D AVENPORT & C oMPANY ---------------------------------------------

•f'C0'nbllr 22. 20lo H<JrnPtt Cotorty. "JC 9 020916wsa HC BOC

Municipal Advisor Disclosure Harnett COUNTY

The enclosed 1nformat1on relates to an ex1stmg or potential mun1C1pal advisor engagement.

The U.S. Secunt1es and Exchange CommiSSIOn (the "SEC .. ) has clanf1ed that a broker. dealer or mun1c1pal secunt1es dealer engagmg m mun1c1pal adv1sory activities outside the scope of underwntmg a particular 1ssuance of municipal secunties should be subject to mumc1pal advisor reg1strat1on. Davenport & Company LLC ( .. Davenport .. ) has registered as a mun1cipal advisor with the SEC. As a registe1ed mumc1pal adv1sor Davenport may prov1de adv1ce to a mun1c1pal ent1ty or obligated person. An obligated person is an ent1ty other than a muniCipal entity. such as a not for profit corporation. that has commenced an applicat ion or negotiation w1th an entity to 1ssue muniCipal secunt1es on 1ts behalf and for wh1ch 1t will prov1de support. If and when an 1ssuer engages Davenport to prov1de f1nanc1al adv1sory or consultant serv1ces with respect to the 1ssuance of munic1pal sec unties. Davenport IS obligated to evidence such a flnanc1al adv1sory relat1onsh1p w1th a wntten agreement.

When actmg as a reg1stered mun1c1pal adv1sor Davenport IS a fiduCiary requ1red by federal law to act 111 the best Interest of a mumc1pal en\lty w1thout regard to 1ts own flnanc1al or other Interests. Davenport IS not a fiduciary when 1\ acts as a reg1stered Investment adv1sor. when adv1s1ng an obligated person. or when acting as an underwnter. though 1t IS reqwed to deal fa1rly w1th such persons.

Th1s matenal was prepared by publ ic fmance. or other non-research personnel of Davenport. Th1s matenal was not produced by a research analyst. although 1t may refer to a Davenport research analyst or research report. Unless otherw1se 111d1Cated. these v1ews (if any) are the author's and may d1ffer from those of the Davenport fixed mcome or research department or others 111 the firm. Davenport may perform or seek to perform financ1a l advisory serv1ces for the 1ssuers of the securities and instruments mentioned here1n.

Th1s matenal has been prepared for mformation purposes only and 1s not a solicitation of any offer to buy or sell any secunty/instrument or to participate many trading strategy. Any such offer would be made only after a prospective partiCipant had completed its own mdependent InvestigatiOn of the securit1es. mstruments or transactions and received all InformatiOn it required to make 1ts own mvestment deCISIOn. mcluding. where applicable. a rev1ew of any offenng c1rcular or memorandum descnb1ng such secunty or mstrument. That information would contain matenal information not contained herem and to wh1ch prospect1ve partiCipants are referred. Th1s matenal IS based on public mforma\JOn as of the spec1f1ed date, and may be stale thereafter. We have no obligatiOn to tell you when 111format1on herem may change. We make no representation or warranty w1th respect to the completeness of th1s material. Davenport has no obligat1on to cont1nue to publish 1nformat1on on the secunties/Jnstruments ment1oned herem. Rec1p1ents are requ1red to comply with any legal or contractual restnctlons on then purchase. holdmg, sale. exerc1se of nghts or performance of obhgat1ons under any secunties/1nstruments transaction.

The securit1esjmstruments discussed 111 this matenal may not be suitable for all investors or issuers. Recipients should seek independent financia l advice prior to makmg any investment decision based on th1s material. This matenal does not prov1de 111d1vidually tai lored mvestment adv1ce or offer tax. regulatory, accounting or legal adv1ce. Pnor to entenng 111\o any proposed transaction. rec1p1ents should determme. 111 consultation w1th theJr own mvestment. legal. tax. regulatory and accounting adv1sors. the econom1c risks and merits. as well as the legal, tax. regulatory and accountmg charactenst ics and consequences. of the transaction. You should consider th1s matenal as only a Single factor in making an investment dec1sion.

The value of and mcome from mvestments and the cost of borrow1ng may vary because of changes in Interest rates, fore1gn exchange rates. default rates, prepayment rates. sccuntJes/instruments pnces. market Indexes. operational or fmancial cond1t1ons or compames or other factors. There may be t1me lim1tat1ons on the exerc1se of op\lons or other nghts in secuntJeS/Instruments transactions. Past performance 1s not necessanly a guide to future performance and est1mates of future performance are based on assumpt1ons that may not be realized. Actual events may d1ffer from those assumed and changes to any assumptions may have a matenal 1m pact on any projections or est1mates. Other events not taken into account may occur and may Significantly affect the proJeCtions or estimates. Certain assumptions may have been made for modeling purposes or to simplify the presentation and/or calculation of any projections or estimates, and Davenport does not represent that any such assumptions w1ll reflect actual future events. Accordingly, there can be no assurance that estimated returns or projections Will be realized or that actual returns or performance results w1ll not materially differ from those estimated herem. ThiS material may not be sold or rediStributed Without the pnor wntten consent of Davenport.

Vers1on 1.13.14 CH I MB I TC

[)AVENPORT&COMPANY ------------------------------------------------------------------------------------------_ ll't'er 2';__. :. __ H-'lr"!'lt Cou 1ty NC 10 020916wsa HC BOC

TOWN OF ERWIN

Mr. Jim Burgin Chairman

P.O. Box 459 · Erwin, NC 28339 Ph: 910-897-5140 · Fax: 910-897-5543

www .erwin-nc.org

January 14, 2016

Harnett County Board of Commissioners P.O. Box 759 Lillington, N.C. 27546

Re: Erwin Depot Project

Dear Chairman Burgin:

~Cl!fV . J4N ~i_,-

1.9 ;,..,.,.. ~ ... ~, .. ,

p y ~~ Mayor Pro Tl'li Randy L. Baker Commissioners William R. Turnage Thurman E. Whitman Alvester L. McKoy Ricky W. Blackmon Frankie Ballard

The Town of Erwin is in the process of moving the former Depot to a vacant lot behind the Erwin Fire and Rescue Station. The foundation has been poured and we are in the process of coordinating with the various utility companies to move some utility lines, so the building can be relocated. Total costs for moving the building and placing it on a new foundation is approximately $120,000. The Town of Erwin was able to identify a source of funds for this portion of project, known as Phase I.

Phase II will consist ofhiring an architect to develop plans and specifications for the renovation of the building as a Museum for the Town of Erwin. The Erwin Historical Society has pledged to keep the facility open to the public. The cost estimate for Phase II of the project is in excess of$600,000. To move forward with the project, the Town anticipates borrowing enough funds to complete the project. The amount of the loan will depend on the Town's success in obtaining grant funds and donations currently being sought by the Historical Society.

As you are aware, the Town of Erwin has faced some difficult times in the past few years, and this will be a tremendous undertaking by the Town_ Upon its completion, the Erwin Town Board feels that this project will be instrumental in preserving the history of Erwin, as well as Harnett County. It is important that we strive to protect our historical treasures. There is strong support in the community for this project and we hope that will translate into financial support from our citizens, both individual and corporate. We would also respectfully request that the Harnett County Commissioners consider appropriating some County funds towards this project. Your support will allow us to move forward with the project and provide a facility that will be enjoyed by the residents of Erwin, Harnett County and visitors to the area.

We respectfully ask that this request for funding be considered at a County Commissioners meeting at a date and time deemed appropriate by you and your staff. I and the Town staff will be available to present the project and answer any questions that

020916wsa HC BOC

the Commissioners might have. We can also provide any additional information that would help the Commissioners in their decision making process. The County' s participation in this worthwhile endeavor, will protect this valuable asset for generations to come. We look forward to hearing from you and your fellow Commissioners.

Sincerely,

~ f\\.C a)~ ... .l~o

Pasty M. Carson Mayor

c: Joseph Jeffries, County Manager Erwin Board of Commissioners

020916wsa HC BOC

Harnett County Board of Commissioners Work Sessiontreefree.harnett.org/weblink/0/edoc/4525687... ·...

Documents

Transcript of Harnett County Board of Commissioners Work Sessiontreefree.harnett.org/weblink/0/edoc/4525687... ·...