Town of PRINCETON  BOARD OF COMMISSIONERS - BOARD MEETING AGENDA  October 3, 2022  1. Call to order  2. Invocation and Pledge of Allegiance 3. Comments from Mayor and Commissioners  4. Adopt Agenda 6. Persons to be Heard  5. Adopt the Minutes from the September 12, 2022 Board Meeting 8. Discuss for Adoption the Water & Sewer funds from KS Bank  7. Bruce Naegelen - CERRI Presentation  9. Discuss for Adoption the Resolution Authorizing the Issuance and Sale of Water and Sewer System Revenue Bond Anticipation Notes of the Town of Princeton, NCin the  Aggregate Principal Amount of $310,000 10. Report from Chief Sutton 11. Report from PWS Thompson 12. Final Year End Budget Amendments 13. Other Business 14. Town Administrator Report 15. Adjourn    5  Town of Princeton Board Meeting - September 12", ,2022-7:00P.M  Present: Mayor Don Rains, Mayor Pro Tem Mike Rose, Commissioners, Walter Martin and Broderick  Robinson. Press: None  Absent: Commissioner Mike Holmes  Others: TAI Michael King, TC April Williamson, PWS Chad Thompson, ChiefTyrone Sutton, Assistant TC Emily Brock, Marla Ashworth and Tyrus Clayton from TRC and' Valerie Howell from Smith-Bryan Chapter,  National Society Daughters oft the American Revolution. Mayor Rains called the meeting to order at 7:00 P.M  Comm. Robinson gave the invocation and Comm. Martin led the Pledge of Allegiance.  Mayor Rains started the Board meeting with opening comments regarding the called meeting that was held Friday, September 2nd, 2022, and apologizing for holding the meeting on the Friday ofl Labor Day Weekend. Mayor Rains begins to explain that the information that the meeting was called for was urgent and had to get done. Mayor Rains then turns it over to TAI King toi introduce our new Town Employee, Assistant' TCI Ms. Emily Brock. TAI King says Ms. Emily Brock started about 3 weeks ago, August 23rd, 2022.1 TC King said that Ms. Brock has been a lot of help, but stilll has al lot to learn but thet town is Comm. Robinson made a motion to adopt the agenda for the September 12, 2022 board meeting. Comm. Martin made ai motion to adopt the consent agenda and the motion passed unanimously. Mayor Rains presented The Proclamation for Constitution week to' Valerie Howell from the Smith-Bryan Chapter, National Society Daughters oft the American Revolution. Ms. Howell gave an explanation to the Board for our constitution. Valerie gifts thet town with a constitution-themed poster to be hung out in our lobby for the remainder of the week. Mayor Rains thanked Valerie for her time and for being with us  happy to have her. The commissioners and Mayor Rains welcomed her. Comm. Martin seconded the motion, and the motion passed unanimously.  for this portion of the meeting.  Mayor Rains asked if any persons would like to be heard, no one spoke at the time. Mayor Rains turns the meeting over to Marla Ashworth with TRC and she begins to talk about the Massey Holt Rd waterline project and request additional funding from Johnston County. Marla refers back to the Massey Holt budget sheet she handed out and states that we opened bids about 3 weeks ago and the construction costi for the waterline was $493,557.00. They have negotiated with. Johnston County on some of the data requirements which lowered the bid by $34,000; Marla goes on to say that this is not confirmed but they are confident. Marla explains the direction of certain lines that would need to be extended before the project begins sO that the project can be done without disturbing things that have already been completed with the waterline. Marla also had a map handout she provided to the Board for a better visual of where those lines are. Marla explains that to get the best price for the project they asked the low bidder on the Massey Holt Waterline to give them a quote for the highlighted    area shown on the map; then asked the low bidder on the Water Sewer and Rehab project to give a quote. She reported the lower price of the two came in at an additional $80,000. Marla explained that the amount could be covered by. Johnston County, the adopted Capital Project Ordinance, and the gift grant that came from State Legislature. Marla recommended to the Board to authorize TA King to sign documentation from the County and other grants; stating once all the documentation is received the Board could have a called meeting for approval. Mayor Rains wanted to know when. Johnston County would decide on the funding; Marla responded, it should be within the next couple of weeks and was told the County has the money ini its budget. Mayor Pro tem Rose wanted to know how this project would help the town; Marla stated that all the dead ends will help the water quality and that the Massey Holt line will make it possible for future development. Comm. Robinson wanted to know what size line would be put in; Marla responded that the Massey Holt line is an 8-inch and will tiei into a 6-inch line that already exists on Peal St. Comm. Robinson then asked ift the 6-inch line would need to be upgraded to an 8i inch; the engineer, Tyrus Clayton answered stating we would not, it was planned in conjunction with the county engineer. Mr. Clayton told the Board that after talking to the County about their State assistance they agreed to reduce some oft the cost on the Town and would fund some internally after the project was finished, and would build the actual electronic components of the box: separately. Comm. Martin confirmed this project would benefit the Town and wanted to know where the future development would be; Mayor Rains stated that. J&N Developers has a subdivision that would benefit and stated the waterline would not be there for development but to improve water quality issues. Mayor Pro Tem Rose asked, by using other funds for this project how would it affect other ideas that the town has in mind; Marla stated that we have allocated $750,000, oft the $950,000 grant, to the western drainage project, and we would need to increase the amount we ask from the ARPA funds. Mayor Pro Tem Rose made a motion that we move $162,921 into this fund soO that we can proceed; contingent on, the discounting of $34,000 and Johnston County giving us an additional $75,000, and the motion passed unanimously. Mayor Pro Tem Rose then made a motion to authorize TAI King to move forward on this project, sign off, and move $162,921 from drainage into this project; contingent on these two items being the discount and the additional requests from. Johnston County. No further discussion at that Tyrus Clayton from TRC gave an update on the retention wall, the proposal for engineering services for Beaver Creek Dam rehabilitation, and also an update on the water and sewer project. Mr. Clayton stated the retention wall project just needs the gravel to be leveled on that lot; he talked with the landowner and they stated they do not like it; Mr. Clayton said it was built as designed, and to alter it would take additional funding which we are not willing to do. Mr. Clayton stated the equipment to level the graveli is onanother job site and should be available within the next week or two. Mayor Pro Tem Rose had concerns about the weeds in the creek; Mr. Clayton stated there is still going to be some maintenance that will need to be done. PWS Chad Thompson stated that is something they can do. Mr. Clayton reviewed with the Board the timeline leading up to current events with the water and sewer project. Mr. Clayton stated that the documentation to the USDA was submitted for the concurrence and final negotiated amounts; TAI King stated this should get us on the agenda for the water and sewer project with the USDA. Mayor Pro Tem Rose asked when will have final approval; Mr. Clayton replied at the next USDA meeting. Mr. Clayton stated the StRAP grant we filed for 20 months ago, we did not receive the total funds that we asked for but we did receive. some; Phase list funded and we need to put together the contract documents and get permitting for both erosion control and environmental. Mr. Clayton said this phase would include debris removal and we will need to contract this work. Mr. Clayton  time, motion passes unanimously.    reported Phase II would be County funded, and Marla through TRCI has applied. TA King stated the County has formed a committee to review the applications and will review and contact each town for an interview. Marla explained the documents given to the Board and how each phase oft the project is to be funded. Marla stated that Phase lis funded by the StRAP grant which is $257,006.00 and Phase Il will be funded by the County grant which is $445,228.00. Mr. Clayton stated that they have set both phases up so if Phase two gets funded they will do it concurrently with Phase ; issuing one contract to get al better price, but if Phase II does not get funded by the County we will still be able to do Phase I. Comm. Martin made a motion to move forward with engineering on Phase land contingent on Phase Ilif the County provides the funding of $445,228.00. Mayor Rains asks if anyone has any further questions and the Mr. Clayton stated the ARPA funding cycle is due at the end of the month and there are six applications that have been started on behalf oft the town; each one comes from different needs of the Town. Marla explained the Resolution for the Rate Study and Asset Inventory Assessment would need to be submitted first due to other project funding will need the studyi information to go forward. Marla stated there are additional forms and al budget that Ethan from TRC is working on, once completed Ethan will send them to TAI King so he can submit them to the State; the next step would be for the State to send the Town al letter ofi intent. Marla continued with Resolution number two the Wastewater Treatment Plant Upgrade and stated this project does not have a budget yet; the letter that was recently sent to Rep.. John Bell was for $12 million and now Rep. Bell needs to finish the PERI before a detailed budget can be determined. The third Resolution, Marla stated, is the Sewer 1&1 Remediation Project; there isa construction budget of $1,689,820.00 and with the other associated cost the total budget would be $2,062,820.00. Marla explained this project will look at every pipe, clean every pipe, and look for damages to be repaired while having money on hand to be able to repair them. Marla stated Resolution four is the Water Distribution System Upgrade project, which has a construction estimated cost of $932,745.00; the total project budget has not been determined yet. Marla then reviewed Resolution five, the Water Reads Meter Installation, this project is budgeted at $300,000.00; this was calculated based on one that was recently submitted to. Johnston County fort funding. Marla reviewed Resolution six, which is the Western Princeton Drainage Improvements, this is Phase Ila and IlI from the original Beaver Dam study, which includes the study for John, First, and Second Street; there will also be a portion of the railroad included with this project which will be very costly. Marla said due to the railroad portion the total project is $2,028,642.00. Marla concluded by stating the good news is this is all grant money. Comm. Martin had concerns about the number of projects and if the staff could handle all of the projects at one time; TAI King responds that with the help from TRC, Marla, and Tyrus we will do our best. Mayor Pro Tem Rose made ai motion to adopt the ARPA Funding Resolutions for the application; Princeton Rate Study and Asset Inventory Project, Wastewater Treatment Plant Upgrade Project, Sewer I&/Remediation Project, Water Distribution System Upgrade Project, Water Read Meters Installation and Western Princeton Drainage Improvements. Not further discussion was made at this time, the Mayor Rains introduces the nexti item on the agenda which is a Professional Service Agreement with TRC. Tyrus stated that TRCI has been helping the Town with small things here and there, and it was always considered a handshake agreement. TRCi is now asking to put an agreement in place to allow them to do that on an hourly basis and set an absorbent amount for yearly fees and this also included  motion passed unanimously.  motion passed unanimously.    the time Marla has assisted at Town Hall. Comm. Martin made a motion to approve Professional Service TA King presented the RFQ, Request for Qualifications, to the Board stating the purpose for RFQ was for procurement ofa a civil engineer and consult service. The RFQ was advertised on. July 25th, 2022, and ran for the next month. Comm. Martin stated that TRC is very familiar with the Town of Princeton and believes that it would be a risk to contract another agency; he has been very satisfied with the services that they have provided. Comm. Martin made a motion to extend our contract with TRC, and the TAI King stated during a class through UNC government schooling it was discussed the allotted public hearing time and per NCGS 160A-81 no set time is required; the Town Of Princeton public hearings can be opened, presented and then closed immediately. Mayor Pro Tem Mike Rose made a motion to amend our public hearing times from 30 minutes to follow NCGS 160A-81. No further questions or TC April Williamson presented a public hearing to consider annexation for parcel 04010002 owned by Princeton Church of God, located at 6121 US Hwy 70 Princeton, NC. TC' Williamson stated we received the petition and adopted it on. July 11"h, we then reviewed and adopted the certification of sufficiency on August 15t and set the public hearing. TC Williamson made everyone aware that the public hearing had been advertised and all that is left to doi is adopt the annexation request. Mayor Rains asks if anyone from the public had any comments, no one was present to speak for or against the annexation. Mayor Rains closed the public hearing. Comm. Martin made a motion to annex 6121 US Hwy 70 Police Chief Sutton stated that al little before 12:00 today they received a report of an out of control car chase somewhere close to our area. Officer Hicks went out to set up patrol, they received word that the car was traveling at speeds of 150-180. The suspect was arrested in' Wayne County by the Highway Patrol. Chief Sutton reported that Lt. Toole has been in class all week, learning concepts of management and employee relations. Chief reported the car involved int the accident that Officer. Jernigan was involved in, should be back from the bodys shop by the 26th and operational by the end of the month. The Chief said the Towns insurance would recoup some of the cost form the suspect's insurance. Chief does know that they had to split $25,000 between three highway patrol vehicles, a power vehicle and the town vehicle including the DOT. Chief Sutton reported that all the officers have their Narcan training. The Chief stated ai few weeks ago they had a call of shots fired on' West First Street; they now have two individuals that they are trying to determine where they live. They determine the shots were pertaining to a conflict. One of the suspects has been a problem in the past, Chief stated that he has many dealings with the suspect and has also talked with his mother many times. We did have a call about an overdose. Chief said the medical examiner was called and there was a history of drug abuse with that particular individual. Chief Sutton ends his report with announcing we are losing Officer Jernigan because oft the strain of driving almost an hour back and forth from home to work each day, his last day will be September 26th. The job opening has been posted on multiple platforms and Chief will PWS Chad Thompson reported there was a problem at the asphalt plant, iti is now back open and we should be ablei to continue patch work. PWS Thompson stated that something had to be rebuilt in one of  Agreement with TRC and the motion passed unanimously.  motion passed unanimously.  comments were made at this time, motion passed unanimously.  Princeton, NC and the motion passed unanimously.  keep the board updated on any inquiries.    their light towers. PWS Chad also reminded the board that he will be on vacation the week of the Mayor Rains presents two budget amendments. He stated this is not only for audit reasons but for housekeeping rules. TC April Williamson made the board aware that she did not get the 21/22 final year end budget amendments completed. TC Williamson stated she did set up the Capital Project Ordinance for South Pine Drainage project and the Capital Project Ordinance for the Wastewater Treatment Plant Expansion for $30,000, this one will need to be amended once additional funding has been received. Comm. Robinson made a motion that we adopt the Ordinance for the South Pine Drainage and the Wastewater Treatment Plant Expansion. Mayor Rains asks ift there is any questions or further discussion, TC Williamson presents 21 thank you cards the Town received for donations made in memory of Mr. TA King reviewed his monthly report stating he will be in Public Law @ UNC-SOG class the week of 09/12. PWS Thompson will be on vacation the 15 week of October and TC Williamson will be on vacation the 2nd week of October. TA King presented a planning and zoning report that Mayor Rains requested, since. July 1 we have had 10 grass related complaints, permitting, we have had 71 that included fencing and/or residential and commercial use and other violations there were 5 of those for junk or appearance related and a couple oft those are still being worked on. TA King made the board aware that we are also looking at updating our zoning ordinance, the last time it was updated was 2009. TA King also reported an upcoming inspection he has with the fire marshal and field inspector at Stallions, to review fora permit, they have a change of occupancy and bypassed the town for1 the permit and submitted to the County. TA King states that talking with the seniors citizen rep, they do want to use the Community Building, the building was inspected and we would need to issue a new permit and that would mean the building would have to meet current code. There are some repairs that need tol be made for water damage and cleaning. TAI King also stated that we do have a Golden Key winner this year and that will be presented in our November meeting. TAI King said Princeton High School reached out to him wondering if the town wasi interested in a year book add this year. TA King has completed the introduction to Local Government Finance at UNCSOG class and received his certificate. TAI King has a report written upt for the board to review regarding reclassifying jobs for TC Williamson and TC Brock, Mayor Rains stated that this will be reviewed and discussed at the next meeting. TAI King finishes up witha a reminder oft thet fall festival that will be October 15th and the fire department will also have their 5k run the same day. Comm. Martin made a motion to adjourn, and the motion passes unanimously.  October board meeting and that Bobby will cover for him.  no one spoke at this time. Motion passed unanimously.  Bartholomew to the Library.  Don Rains, Mayor  April Williamson, Town Clerk    7  EMS&RP  NCI MAIN STREET & RURAL OF PLANNING CENTER  Princeton Community Economic  Recovery & Resiliency  Initiative  FINAL DRAFT 09-12-22  PRINCETON ECONOMIC DIVERSITY REPORT  2022    This page has been intentionally left blank  2    TOWN OF PRINCETON ECONOMIC DIVERSITY REPORT Prepared by the NC Main Street & Rural Planning Center Staff  MS&RP  Mapi 1. Princeton, NC iceton Pediatrics s Dollar Generale)  The NCI Main! Street & Rural Planning Center's Deacondones & Rural Planning Program (RPP) has developed Cledrancecenter)  70  Boon Wild 0  the Community Economic Recovery and Resiliency Initiative (CERRI) to helpl local governments recover from the economic impacts oft the coronavirus (COVID-19) pandemic andI build local economies that are more resilient to future crises. This initiative will also enable communities to address COVID-19 impacts by supporting affected businesses and communities, provide technical assistance to retain existing and hire new employees, provide a range of skills-training and workforce development projects to help employees compete for high- quality jobs, and develop and implement strategies to diversify regional economiest to create jobs in new or existing industries. The Economic Diversity Report, a service developed as part of the CERRI, willl help each participating community understand the structure ofi its local economy and factors in its resiliençe. It mayi include: working lists of targeted business opportunities skills and training needs priorities and red flags fori future stability supplemental development effortsand access tot tools and' resources to develop a more diverse and robust local economy. This service will be provided by RPP and may lead to a local cluster analysis. The service may also define the need for further or outside assistance with cluster or value chain analysis, targeted market studies, talent development, economic gardening, entrepreneurial ecosystem, and other program development as strategic planning process as well as state andi federal grant  Hardees"  2556  Princeton Middje High School 2556  Ps 55 At  Princeton pearis St  Bojangles 2372)  Ray Community: M. Floors Park  Foodl Lion  Jand Npevelopers   Princeton! Little Taro Heel Leaguel Field  Sources of Information ESRI Business Online Analyst, Demographics, Tapestries www.esri.com Quick Facts, NC: wwensusgp/gucsacts Access NC: accessnc.commerce.state.nc.us USCensus On The Map: ontnemap.cescensusgoy EMSI Economic Modeling Data wwecomomemodeingcon  Disclaimer: This reporty was prepared by thet NCI Main Street & Rural Planning Center'sRural Planning Program (RPP). Information contained int the report is primarilyf from EMSI and checked against sources above. Every efforti is made toe ensure warranty is made about the: accuracy oft this report! by the RPP or Limitations oft this data aret to be expected, givent the RPC'suse of different data sources ande eacho data source's collection and  plans as supported byt the CERRI. The report can be used to inform that the information contained withini is accurate, however, no  opportunities.  itss sources. classification methods.  3    KEY STATISTICS:  The Town of Princeton is locatedi in eastern Johnston County, along the US 70 corridor between Smithfield/Selma and Goldsboro. The Town was incorporated in 1873. Princeton has historically served as a market center fort the rural areas of eastern. Johnston County and western Wayne County. Located along US 70, the town is strategically located with easy access to both the Research Triangle and Goldsboro markets andi is also a well-known landmark for beach-bound traffic.  The Town has freight railroad services from Norfolk Southern along the North Carolina Railroad. 1  TAKEAWAYS:  Analysis of various current data sources yields interesting findings about Princeton's economy, andi its position in the As of 20201 the region's population increased by 3.2% since 2015, growing by 270. Population is expected to From 20151 to 2020, jobs increased by 7.3%i in Princeton, NC (ZIP 27569) from 1,9501 to 2,093. This change Ast the number ofj jobsi increased, the labor force participation rate decreased, in. Johnston County, from 63.0% Concerning educational attainment, 16.8% of. Johnston County residents possess al bachelor's degree (3.5% below the national average), and 14.7% hold an associate degree (6.0% above the national average). Thet top three industries in 2021 are Education and Hospitals (Local Government), Restaurants and Other Eating  regional economy. Key takeaways from this analysis indicates the following: increase by 10.9% between 2020 and 2025, adding 959. outpaced the national growth rate of 0.0% by 7.3%. to5 59.7% between 2016: and 2021.  Places, and Pharmaceutical and Medicine Manufacturing.  The! top employers in Princeton are: Princeton High School Princeton Elementary School Bojangles Food Lion Ormond's Hanson-Princeton Quarry S.T.Wooten Company Government Manufacturing Construction Retail Trade Construction Administrative & Support,  (102 employees) (101 employees) (67€ employees) (356 employees) (30employees) (25employees) (25employees)  The! largest industries by Gross Regional Product (GRP) in Princeton:  (552 jobs/S96269,745G6RP), (31j ob5/32,695,920GRP) (258 jobs/S20915494GRP)  The top growing industries overt the past 5 yearsare:  (303 jobs) (258 jobs)  Waste Management, Remediation Services (97. Jobs)  4    Workforce & Economy  The following analysis and data represent a detailed look at what drives Princeton's work force and economy. For further analysis intot the different types of data used, consult the source page (endnotes) at the end oft this report.  Table 1. Princeton Comparison with County & State (2021)  Princeton 1,654 694 $28,755 $47,417 $19,604  Johnston County 217,723 84,340 $63,882 $44,087  North Carolina 10,822,111 4,251,028 $56,585 $80,263 $31,659  Population Households Median Household Income Average Household Income Per Capita Income Source: ESRIE Business Analyst*  Princeton has a median household income of $28,755, which is less than the county and state median. The town's average household income, $47,417, and per capita income, $19,604area also less than the county and state averages. Educational attainment refers to the highest level of education that an individual has completed. This is distinct from the level of schooling that an individual is attending. Educationala attainment is highly correlated with measures of regional economic prosperity. Rural counties with the lowest levels of educational attainment facel higher poverty, child poverty, unemployment, and population loss than other rural counties. Inadditiontok higher poverty rates, rural counties with low levels ofe educational attainment tend to have higher unemployment: rates. As Table! 5i indicates, this does not Educational attainment for. Johnston County residents witha a bachelor's degree or higher (24%) is less than the state (32%) and national rates (33%). However, "low education" counties are usuallydefined: as those where 20 percent or more of adults aged 25 to 64 do not have a high school diploma ore equivalent.. Johnston County exceeds this threshold,  EDUCATIONAL ATTAINMENT  appear to be the situation in Princeton/Iohnston County.  as 27% of the population has acquired a high school diploma or equivalent. There is one post-secondary institution in thecounty,. Johnston.Community College.  Table 2.. Johnston County Educational Attainment (2020)  2020 Population 7,173 11,341 39,436 32,983 20,788 24,159 9,547  2020%of 2020 State % 2020 National  Education Level Less Than 9th Grade 9th Grade to 12th Grade High School Diploma Some College Associate degree Bachelor's Degree Graduate Degree and Higher  Population 5% 8% 27% 23% 14% 17% 7%  Population %1 Population 4% 7% 25% 21% 10% 20% 12%  5% 7% 27% 20% 9% 20% 13%  5    LABOR FORCE & PARTICIPATION RATE growth in September through November: 2021.  Local labort force participation (Table3 3ji in. Johnston County has been trending lower since 2016. During the COVID-19, Pandemic in 2020, Johnston County's participation rate was reduced by 3.51%, but started to show some signs of  Table 3.. Johnston County Labor Force Participation Rate (2021)  Timeframe 2016 2017 2018 2019 2020 January August 2021 September 2021 October 2021 November 2021 Source: EMSI  62.91% 62.84% 62.59% 62.41% 58.90% 58.59% 59.43% 59.75% 59.69%  An analysis of Johnston County's labor force for November2021 indicates that there were 102,702 people (Table 4) in the labort forces. In November 2021, there was al Labor Participation Rate (Table 3)0f59.69965, compared to North Carolina's  labor force participation rate of! 59.7%.7  Table 4. Johnston County Labor Force Breakdown (2021)  Level Population Employable Population Not in Labor Force (16+) Labor Force Employed Unemployed Under 16, Military and Institutionalized Population Source: NCS State Demographer", and EMS/9 UNEMPLOYMENT  Population 222,371 172,056 69,354 102,702 99,714 2,988 50,314  Johnston County had a November 2021 unemployment rate of 2.91%, decreasing from 4.69% in 2016. There wasa  significant rise (6.52%) in unemployment during the COVID-19 Pandemic in 2020. Table 5.. Johnston County Unemployment Rate Trends (2016- -2 2021)  Timeframe 2016 2017 2018 2019 2020 January August 2021 September 2021 October 2021 November 2021 Source: EMSI  Unemployment Rate (Johnston)  4.69% 4.16% 3.71% 3.58% 6.52% 4.27% 3.30% 3.20% 2.91%  6    Princeton's labori force is employed in thet following North. American Industry Classification System (NAICS). sectors. A significant portion oft the Town's labor force works in Government; Agriculture, Forestry, Fishing & Hunting; Retail Trade; Construction, and Accommodation & Food Services. These largeri industries (100+) account for 1,655 jobsi in Princeton,  or 80% of the workforce.  Table 6. Princeton! Largest Industries (2022)  Labor Average Force Annual Wage Hourly' Wage 552 434 303 258 108 97 94 65 47 31 28 23 20  Average $27.41 $15.68 $14.59 $24.96 $8.81 $20.97 $12.67 $35.92 $11.12 $135.71 $31.12 $13.76 $32.19  industry  Government Retail Trade Construction  $57,006 $32,604 $30,338 $51,915 $18,317 $43,628 $26,345 $74,714 $23,127 $282,280 $64,740 $28,614 $66,946  Agriculture, Forestry, Fishing and Hunting Accommodation: and Food Services Other Services (except Public Administration) Mining, Quarrying, and Oila and Gas Extraction Arts, Entertainment, and Recreation Manufacturing Wholesale Trade Health Care and! Social Assistance Finance andl Insurance Source: EMSI COMMUTING FLOW ANALYSIS  Administrative and Support and Waste Management and Remediation Services  There were 16,394 people that lived and worked primary jobsi in. Johnston County in 2019. (Table 7.) Additionally, 24,291 people commuted into. Johnston County to work. Conversely, 54,273 Johnston County residents left the county to work in other counties. The net flow of people that stayed within the county, left the county, and commuted to the county  yielded a negative flow of- 29,982.  Table 7.. Johnston County Overall Inflow Outflow Analysis (2019) Resident Flow (Live/Worki in. Johnston County) Resident Live/Work in. Johnston County  Jobs 16,394 24,291 54,273 -29,982  WorkerInflow Resident Outflow Net Flow Source: NCL Labor Economic Analysis Divisionio and byi industry group. Earnings Group orl less perr month per month  Tables 8, 9, and 10s show workerinflow, resident worker, and resident outflow statistics, including earnings, age group,  Table 8.. Johnston County Commuting Flow Analysis by Earning (2019)  Worker %of Resident %of Resident %of Inflow Total Worker Total Outflow Total Flow  Net  Jobs earning $1,250 per month 6,109 25.1% 4.032 24.6% 9,701 17.9% -3,592 Jobs earning $1,251to$3,333 8,982 37.0% 6,375 38.9% 17,126 31.6% -8,144 Jobs earning more than $3,333 9,200 37.9% 5,987 36.5% 27,446 50.6% -18,246  Source: NCL Labor Economic Analysis Division  7    Table 9. Johnston County Commuting Flow Analysis by Age (2019)  Worker %of Resident %of Resident %of Inflow Total Worker Total Outflow Total Flow 7,092 29.2% 4,442 27.1% 12,862 23.7% -5,770 4,895 20.2% 3,721 22.7% 11,156 20.6% -6,261  Net  Age Group Jobs of workers age 29 or younger Jobs for workers age 55 or older Source: NCL Labor Economic Analysis Division Source: NCLabor Economic. Analysis Division  Jobs for workers age 301 to5 54 12,304 50.7% 8,231 50.2% 30,255 55.7% -17,951  Table 10.. Johnston County Commuting Flow Analysis by Industry (2019)  Industry Group Jobs in Goods Producing Industries Jobs in Trade, Transportation, and Utilities Industries Jobs in All Other Service Industries Source: NCLabor Economic Analysis Division  Worker %of Resident %of Resident %of Net Inflow Total Worker Total Outflow Total Flow 6,022 24.8% 5,888 35.9% 10,230 18.8% -4,208 7,753 31.9% 3,165 19.3% 14,163 26.1% 6,410 10,516 43.3% 7,341 44.8% 11,156 55.1% -19,364  Not quite half the workers (48.9%) coming into. Johnston County to work were coming from neighboring' Wake, Harnett and Wayne counties. (Table 11) AI majority of outflowj jobs (40.6%) are! based in' Wake County. (Toble 12)! Many of these jobs  are likely located in Research Triangle Park, or related areas and State of NCj jobs.  Table 11. Workers Coming Into Johnston County (2019)  Resident County Wake County Harnett County Wayne County Wilson County Cumberland County Sampson County Nash County DurhamCounty Mecklenburg County Pitt County State South Carolina Virginia Georgia Tennessee  Jobs 7,073 1,798 1,794 1,071 806 780 689 541 464 433  Percent of Inflow Percent of All County Jobs  Jobs 29.1% 7.4% 7.4% 4.4% 3.3% 3.2% 2.8% 2.2% 1.9% 1.8%  17.4% 4.4% 4.4% 2.6% 2.0% 1.9% 1.7% 1.3% 1.1% 1.1%  Table 11a. Workers Coming Into Johnston County! by Surrounding States (2019)  State Resident Workers Percent of Inflow Percent of AllI County. Jobs  Jobs 1.2% 0.9% 0.4% 0.2%  281 221 86 39  0.7% 0.5% 0.2% 0.1%  Source: NCLabor Economic Analysis Division  8    Table 12. Residents Working Out of Johnston County (2019)  Percent of Outflow Jobs 52.9% 7.7% 4.3% 3.1% 2.7% 2.6% 2.6% 2.0% 1.7% 1.3% Percent of Outflow Jobs 0.6% 0.2% 0.1% 0.1%  Workplace County Wake County Durham County Mecklenburg County Harnett County Wayne County Guilford County Wilson County Cumberland County Nash County ForsythCounty State Virginia South Carolina Georgia Tennessee  Jobs 28,688 4,181 2,317 1,670 1,484 1,428 1,421 1,063 911 716  Percent of All County Jobs 40.6% 5.9% 3.3% 2.4% 2.1% 2.0% 2.0% 1.5% 1.3% 1.0%  Table 12a. Residents Working Out of. Johnton County by Surrounding States (2019)  State Resident Workers 333 112 78 35  Percent of AlI County. Jobs 0.8% 0.3% 0.2% 0.1%  Source: NCL Labor Economic Analysis Division Company Name Princeton High! School Princeton Elementary Bojangles Famous Chicken Food Lion Ormond's Hanson-Princeton Quarry S.T. Wooten Corp Source: InfoGroup"  Table 13. Top Employers in Princeton (September, 2021)  Business Description Schools Schools Limited-Service Restaurant Grocers-Retail Gas-Liquified, Petro-Bottled/Bulk (whls) Mineralstarths-Grounds or Treated (mfg) Princeton Asphalt Paving Contractors  Town Princeton Princeton Princeton Princeton Princeton Princeton  Employees 102 101 67 35 30 25 25  9    INDUSTRY & GROSS REGIONAL PRODUCT (GRP)  Gross Regional Product (GRP) is ar monetary measure of the market value of allf final goods and services producedi in,a region overa a period of time. Thet terms Gross Regional Product and Gross Domestic Product are interchangeable.  Table 14. Largest Industries & Gross Regional Product Princeton (2020)  Industry Government Manufacturing Construction RetailTrade Wholesale1 Trade Mining, Quarrying, and Oila and Gas Extraction Administrative and Support and Waste Management and Remediation Services Finance and Insurance Other Services (except Public Administration) Arts, Entertainment, and Recreation Accommodation and Food Services Health Care and: Social Assistance Agriculture, Forestry, Fishing and Hunting  2020 Jobs 2020 Earnings 552 31 258 303 28 65 97 20 94 47 108 23 434 2,058  2020GRP  Per Worker $57,006 $36,269,745 $282,280 $32,695,920 $51,915 $20,915,494 $30,338 $14,603,491 $64,740 $13,273,705 $74,714 $12,064,584 $43,628 $4,867,442 $66,946 $4,354,385 $26,345 $4,035,979 $23,127 $3,898,145 $18,317 $3,055,199 $28,614 $32,604 ($5,937,410)  $730,686 144,827,363  TOTAL  Source: EMSI of GRP.  The top three largest industries comprise about 80% of Princeton's GRP, with Government employment making up 40% Thet top growing industries in Princeton, in terms of job growth over the past! 5 years are depicted in Table 15. Retail Trade, Construction and Administrative and Support/Waste MonogemenRemedlaten Services have grown respectfully  by 61, 50, and 21 jobs respectively.  Table 15.Top Growing Industries Princeton (2020)  2020 Earnings by Worker $30,338 $51,915 $43,628 $74,714 $57,006 $26,345 $282,280 $18,317 $23,127 $28,614  2015 2020 Change in % Change in  Industry Retail Trade Construction  Jobs 241 208 49 537 80 19 97 40 17  Jobs 303 258 97 65 552 94 31 108 47 23  Jobs 61 50 21 16 15 14 12 11 6 6  Jobs 25% 24% 27% 32% 3% 17% 66% 11% 16% 35%  Administrative and Support, Waste Management, & Remediation Services 76 Mining, Quarrying, and Oil & Gas Extraction Government OtherServices (except Public Admin) Manufacturing Accommodation & Food Service Arts, Entertainment, & Recreation Health Care & Social Assistance  Source: EMSI  10    Table 16. Largest Occupations Princeton (2020)  Change in % Jobs 20 (36) (28) 18 32 14 8 18 6 19 2 13 7 12 4 4 4 7 2  in 2020 Median Hourly Earnings $21.57 $10.68 $22.62 $17.70 $11.24 $17.23 $9.68 $14.08 $14.88 $20.81 $13.16 $29.79 $15.97 $16.71 $19.27 $10.78 $21.55 $23.09 $35.39  Occupation Educational Instruction and Library Farming, Fishing, and Forestry Management Construction and Extraction Sales and Related Office and Administrative Support Food Preparation and Serving Related Transportation and Material Moving Building and Grounds Cleaning and Maintenance Installation, Maintenance, and Repair Military-only Business and Financial Operations Arts, Design, Entertainment, Sports, and Media Production Protective Service Personal Care and Service Healthcare Practitioners and' Technical Community and Social Service Computer and Mathematical Source: EMSI  2015Jobs 2020. Jobs 211 264 255 182 159 140 126 114 87 72 58 41 45 32 39 36 25 22 18  Change Jobs 9% (14%) (11%) 10% 20% 10% 7% 16% 7% 27% 3% 33% 15% 36% 11% 12% 18% 30% 13%  231 228 227 200 190 154 134 133 93 91 60 54 52 44 43 40 29 29 21  Table 17. Top Growing Occupations Princeton (2020)  2020 Median Hourly Earnings $11.24 $21.57 $14.08 $20.81 $17.70 $17.23 $29.79 $16.71 $9.68 $23.09 $15.97 $14.88 $10.78 $19.27 $21.55 $35.39 $13.16  Occupation Sales and Related Educational Instruction and Library Transportation and Material Moving Installation, Maintenance, and Repair Construction and Extraction Office and Administrative Support Business and Financial Operations Production Food Preparation and Serving Related Community and Social Service Arts, Design, Entertainment, Sports, and Media Building and Grounds Cleaning and Maintenance Personal Care and Service Protective Service Healthcare Practitioners and Technical Computer and Mathematical Military-only Source: EMSI  2015. Jobs 2020. Jobs Change in % Change in  Jobs 32 20 18 19 18 14 13 12 8 7 7 6 4 4 4 2 2  Jobs 20% 9% 16% 27% 10% 10% 33% 36% 7% 30% 15% 7% 12% 11% 18% 13% 3%  159 211 114 72 182 140 41 32 126 22 45 87 36 39 25 18 58  190 231 133 91 200 154 54 44 134 29 52 93 40 43 29 21 60  11    LOCATION QUOTIENT  Al location quotient (LQ) is an analytical statistic that measures a region's industrial specialization relative to a larger, geographic unit (usually the nation). Anl LQ is computed as an industry's share ofar regional total for some economic statistic (earnings, Gross Domestic Product by region, employment, and similar measures) divided by thei industry's For example, an LQ of1.0inf farming means that the region and the nation are equally specialized ini farming; while an Location quotients can reveal what makes an area unique. As shown below, thet following Occupations have al higher  share oft the national total for the same statistic.  LQof1.8 means that the region has a higher concentration in farming than the nation.  concentration in Princeton than the rest of the nation: Farming, Fishing, & Forestry-1Qof14.02 Military-only: -LQof4.57 Construction & Extraction - LQof2.05 Educational Instruction & library-LQof186 Management - LQof1.75  Conversely, there are a number of occupations that are underrepresented in Princeton, as opposed to the nation. These  occupations can be identified by their LQ numbers that are al bit lower than 1.0:  Healthcare Practitioners & Technical -L LQof0.24 Computer & Mathematical - LQof0.32 Production - LQof0.37 Business & Financial Operations -L LQof0.44 Table 18. Top Occupation Location Quotients Princeton (2020)  2015 2020 Change in Jobs Jobs 264 58 182. 211 255 45 87 72 159 39 126 22 114 36 140 41 32 18 25  % Change in LQ Jobs (14%) 14.02 3% 4.57 10% 2.05 9% 1.86 (11%) 1.75 15% 1.39 7% 1.24 27% 1.12 20% 0.98 11% 0.94 7% 0.89 30% 0.77 16% 0.76 12% 0.69 10% 0.59 33% 0.44 36% 0.37 13% 0.32 18% 0.24  2020 2020 Median  Occupation Farming, Fishing, and Forestry Military-only Construction and Extraction Educational Instruction and Library Management Arts, Design, Entertainment, Sports, and Media Building and Grounds Cleaning and Maintenance Installation, Maintenance, and Repair Sales and Related Protective Service Food Preparation and Serving Related Community and Social Service Transportation and Material Moving Personal Care and Service Office and Administrative Support Business and Financial Operations Production Computer and Mathematical Healthcare Practitioners and Technical Source: EMSI  Jobs (36) 2 18 20 (28) 7 6 19 32 4 8 7 18 4 14 13 12 2 4  Hourly Earnings $10.68 $13.16 $17.70 $21.57 $22.62 $15.97 $14.88 $20.81 $11.24 $19.27 $9.68 $23.09 $14.08 $10.78 $17.23 $29.79 $16.71 $35.39 $21.55  228 60 200 231 227 52 93 91 190 43 134 29 133 40 154 54 44 21 29  12    Table 19. Top Occupation Earnings Princeton (2020)  2015 2020 Change in Jobs Jobs 18 41 22 255 211 25 72 39 182 140 32 45 87 114 58 159 36 264 126  % 2020 2020 Median Change in LQ Jobs 13% 0.32 33% 0.44 30% 0.77 (11%) 1.75 9% 1.86 18% 0.24 27% 1.12 11% 0.94 10% 2.05 10% 0.59 36% 0.37 15% 1.39 7% 1.24 16% 0.76 3% 4.57 20% 0.98 12% 0.69 (14%) 14.02 7% 0.89  Occupation  Jobs 2 13 7 (28) 20 4 19 4 18 14 12 7 6 18 2 32 4 (36) 8  Hourly Earnings $35.39 $29.79 $23.09 $22.62 $21.57 $21.55 $20.81 $19.27 $17.70 $17.23 $16.71 $15.97 $14.88 $14.08 $13.16 $11.24 $10.78 $10.68 $9.68  Computer and Mathematical Business and Financial Operations Community and Social Service Management Educational Instruction and Library Healthcare Practitioners and Technical Installation, Maintenance, and Repair Protective Service Construction and Extraction Office and Administrative Support Production Arts, Design, Entertainment, Sports, and Media Building and Grounds Cleaning and Maintenance Transportation and Material Moving Military-only Sales and Related Personal Care and Service Farming, Fishing, and Forestry Food Preparation and Serving Related  21 54 29 227 231 29 91 43 200 154 44 52 93 133 60 190 40 228 134  13    INDUSTRY CLUSTERS  Creating and using industry clusters as well as occupation clusters adds an additional dimension for analyzing and describing ar regional economy. Identification ofi industry clusters involves tracing value-chain relationships between industries and businesses that is, businesses that buy and sell things to each other that they need to process and Industry diversityi is high for. Johnston County. This means that employment is distributed less evenly between the 11 industry clusters compared tot the typical county. A region with high diversity can signal economic stability and more easily withstand economic pressures, while a region with low diversity can signal economic instability. Analysis ofi industry clusters shows us that. Johnston County and Princeton have ag greater employment share int the Research, Engineering & Technology and Distributive Services clusters than othert typical county employment shares (as  produce products.  depicted by the gray line in Chart1).  Chart1. Industry Cluster Shares - Johnston County  Industry Cluster Shares  Industry Share , Typical County Employment Share  Research, Engineering, and1 Technology Distributive! Services Labor/Capial/Resource Intensive Higher Education Finance. Insurance & Real Estate Media, Entertainment & Recreation Agriculture & Natural Resource Extraction Knowledge- Intensive Business Services Corporate Management &A Administration  Healthcare  0.0%  2.0%  4.0%  60%  8.0%  10.0%  12.0%  Source: EMSI  14    Chart 2. Occupation Cluster Shares- - Johnston County  Occupation diversity is high for Johnston County. This means that employment is distributed more evenly between the 14 occupation clusters compared to the typical county. A region with high diversity can signal economic stability and more easily withstand economic pressures, while a region with low diversity can signal economic instability. As study of occupation clusters shows that. Johnston County has al higher than or at average employment share in nine of the fourteen clusters as shown by the gray line in Chart2. The county has smaller than average clusters in the remaining  Occupation Shares.  Occupation Cluster Shares  Occupation! Share Semi-skilled: service Management & Finance  Typical County Employment: Share  Occupationall Employment Excluded From! Knowledge  Cluster Production Education  Construction&s Specialized Mechanical  Legal, Clerical, Administrative, &1 Technicians MedicalScience& Health Services Engineering &A Architecture Information' Technology & Communications Counseling. Specialized Education, &1 Therapy Media andE Entertainment Agriculture, Life & Natural Sciences  0.0%  5.0%  10.0% 15.0% 20.0% 25.0% 30.0%  Source: EMSI  15    Conclusion  This analysis is not to be considered ai thorough, comprehensive analysis oft the economic drivers and industries that comprise the economy of Princeton and. Johnston County. Also, the scale issues when looking at data (data sets at the county level, zip code level, and town or place level) present challenges when making inferences about the area's However, this report is a starting point to look for trends and growth andi is meant to assist the Town of Princeton with economic development and recruitment efforts. Other tools, such as al local cluster analysis, could serve the town and county welll by taking a morei in-depth look at the largest and fastest growing industries in the area.  business diversity.  Endnotes 2EMSI  1Town of Princeton Land Use Plan 2020 EMSI, Data-Axle! September 2021 SEMSI wwetomomemoinccom, 9EMSI wwcomomtemoenccom,  4ESRI Business Analyst (Gata-ncommerceopenndataargscom, Federal Reserve Bank of St Louis, Economic Research (fred.stiouisfed.0rg) Federal Reserve Bank of Stl Louis, Economic Research fred.stiouisfed.Org 8 NC Office of State Budget and Management wwobmncovycemogrounyporctom, 10 Access NC laccessnc.nccommerce.com/DemographicsReports) 11A Access NC larcessnc.ncommerceom/pusines/pusines.custom.seareh.mfogroup.htm)  16    MS&RP NCMAIN STREET DEPARTMENT & RURAL or COMMERCE PLANNING CENTER  Princeton Community Economic  Recovery & Resiliency  Initiative  MXI   FINAL DRAFT 09-12-2022  IMPLEMENTATION PLAN  2022    This page has been intentionally left blank        Princeton CERRI Implementation Action List  Community Economic Resiliency Strategy: 1- Develop Downtown as al Destination Goal 1. Increase business traffic2596by2025  Objectivel. Create Opportunities for Nightlife Thursday-Saturdayevenings  Action: 1-1: Create al Princeton Downtown Advisory Board (PDAB) based on Main Street 4-point Purpose: The PDAB will organize as a volunteer-based advisory team to revitalize andi improve downtown Princeton. They help get everyone working toward the same, goal. They set the committee's direction, see that a concrete work plan is approved and adopted and will pull together resources and complete the projects. Committees are organized using the Main Street Four Points" of: Organization, Promotion, Design, Economic Vitality. The committees are comprised of residents and others who want toi improve downtown Bunn. The PDAB would report and make recommendations to the Town Board of Commissioners. Task A: Develop bylaws (operating rules) for the Advisory Board Task C: Appoint Committee Members Task D: Begin organizational training of the Advisory Board Task E: Develop a 1-2 year plan of work Responsible Party: Town Administrator, / Board of Commissioners  Approacho  Task B: Ifnecessary, create anda adopt ordinance creating Downtown Advisory Board  In-House or Outsource: In-house Cost/Time: TBD  Partners/Assistance: MS&RPC (NC Dept of Commerce), Town Attorney  Date' To Be Completed: December 2022  Action 1-2: Engage Consultant tol Help Create an Original Brand and Marketing Plan for Town of Purpose: To increase public awareness and traffic tol businesses and attractions from within and outside Princeton.  Princeton  Task A: Develop a Request for Qualifications (RFQ) Task B: Interview 2-3 responding firms Task C: Negotiate proposal cost, timelines, and deliverables Responsible Party: Town. Administrator/Board of Commissioners  In-House or Outsource: Outsource Cost/Time: $35,000+ Authority  Partners/Assistance: Triangle East Chamber of Commerce, MS&RPC, Johnston County Tourism Development  Date To Be Completed: December 2023 Princeton CERRI Implementation Plan! Final Draft 09-12-22    Action 1-3: Determine and Formalize Location(s) for Public Events/Activities That Can Benefit Purpose: Special and other events should be purposeful in that they assist businesses.. A designated location(s) provides continuity and predictability for planning. This could be or become part of al larger special events policy that outlines ar number of guidelines, including the number oft times (minimal) public roads can be closed for parades  Businesses  and special events.  Task A: Review current special events and where they are held Task B: Ifnecessary, identify alternative locations  Task C: Determine anyi infrastructure needs, such as electricity: and lighting, that might ber needed Task D: Develop/update a policy for Town-sponsored events ande events organized by non-government  groups.  Responsible Party: Proposed Princeton Downtown Advisory Board (PDAB)  In-House or Outsource: In-house Cost/Time: TBD  Partners/Assistance: MS&RPC (NC Dept of Commerce), Landscape Architect  Date Tol Be Completed: June 2023  Action 1-4: Recruit Specific Business Types (retail/service) and Encourage Property/Bulding Owners Purpose: To be proactive in recruiting targeted business types needed ini the Town of Princeton and downtown.  to Update Buildings  Task A: Develop a retail market analysis that includes current business mix Task B: Identify potential recruitment ande expansion targets based on sales leakage Task C: Identify potential buildings and availability for use Task D: Identify buildings that needi improvements for use Task E: Consider incentives to promote bringing buildings to code Task F: Identify areas for potential infill construction for new business use Task G: Develop ar recruitment andi implementation plan Task H: Consider incentives to bring new businesses tot town  Responsible Party: (proposed) Princeton Downtown Advisory Board, Board of Commissioners  In-House or Outsource: In-house and Out-source  Cost/Time: TBD  Partners/Assistance: MS&RPC (NC Dept of Commerce), Johnston County Economic Development,  Date To Be Completed: June 2023  Princeton CERRI Implementation Plan Final Draft 09-12-22  2    Community Economic Resiliency  Strategy 2- - Improve Quality of Life for All Residents of Princeton  Objective 2-1: Increase the number ofvisitors to the Town and offermore Pponunllesfer.communty  socalzation/gathering,  Action2-1: Implement Community Building & Library project  Purpose: To replace the existing Community Center building with one that is al bit larger with a design that will accommodate multiple uses. The proposed new building will also house the library, which currently resides ini the  Princeton High School building withl limited hours and none on thev weekends.  Task A: (see planning documents) Responsible Party: Town of Princeton In-House or Outsource: In-house Cost/Time: TBD Partners/Assistance: Multiple Date Tol Be Completed: 2025  Action 2-2: Implement North Center Street Streetscape Plan  Purpose: To provide as stronger/safer connection from Princeton High School and Middle School to the central business district. N. Center Street serves as the prominent "gateway" into downtown. The Community Center (see above) is positioned between the schools and downtown and will be connected by sidewalks.  Responsible Party: Town of Princeton In-House or Outsource: In-house Cost/Time: TBD Partners/Assistance: Multiple Date Tol Be Completed: 2025  Action 2-3: Develop Public Art Program  Purpose: Public art contributes to economic development by highlighting a community's cultural assets, building community pride, drawing people together from inside and outside the community: and enhancing the natural and urban landscape. Public art provides ac community with as sense ofp place. The arts alsos strengthen a community socialy,educationaly, and economically-benefits: that persist even during a pandemic'. There are many ways to incorporate public arti in town. Sculptures, murals, even painted trash receptacles and manhole covers.  Task A: Engage a small task force (2-3 citizens) to research existing programs in other NC communities Task B: Seek partnerships with arts organizations for guidance with finding artists andi funding options. Task C: Develop a sustained and phased program that suits Princeton's needs and budget  including Clayton and Sanford and seek guidance in starting.  Responsible! Party: Town of Princeton  Americans fort the Arts, wwoneronserhsation Blog, March2 2022 Princeton CERRI Implementation Plan! Final Draft 09-12-22  3    In-House or Outsource: In-house Cost/Time: TBD  Partners/Assistance: Johnston County Arts Council, NC Arts Council, Triangle Artworks  Date To Be Completed: June 2023 (plan in place)  Small Business Support  Strategy 1- Develop Downtown as al Destination Goal1. Increase business traffic 50% by 2025  Objective. 1. Create Opportunities for Nightlife Thursday-Saturday evenings  Action 1-1: Develop & Maintain Commercial Building & Property Inventory  Purpose: A downtown inventory of buildings and property is crucial to understanding the economic condition of downtown: building usage, condition, size, availability and more, including determining what types of businesses are missing, if any. Once basic information is gathered and analyzed, the (proposed) Advisory Committee can help to strengthen existing businesses, recruit new businesses, and develop promotional strategies to attract customers. Task B: Develop andi maintain al building, property, and business inventory to track square footage, occupancy, availability, vacancies, business/property owner contact information and business mix of  Task A: Identify existing uses of downtown buildings and property.  downtown district  Responsible Party: (proposed) Princeton Downtown Advisory Board (Economic Vitality)  In-House or Outsource: In-house Cost/Time: $0  Partnersy/Assistance: MS&RPC (NC Dept of Commerce), /. Johnston County GIS Director  Date To Be Completed: December 2022  Action 1-2: Create online business directory on Town website businesses in the area that offers their desired services.  Purpose: Online directories provide residents and visitors with an easy' way to find and filter through the  Task A: Research on-line programs to use as directory Task B: Incorporate as part of website re-design Task C: Use Business Inventoryto  Responsible Party: Town Administrator/ (proposed) Princeton Downtown Advisory Board (Economic Vitality)  In-House or Outsource: In-house Cost/Time: TBD Community College  Partners/Assistance: MS&RPC (NC Dept. of Commerce), Triangle East Chamber of Commerce, Johnston  Date To Be Completed: December 2022 Princeton CERRI Implementation Plan Final Draft 09-12-22    Action 1-3: Schedule business training opportunities based on Small Business Survey Purpose: Provide training to small businesses (retail, service, and eating/drinking establishment) to enhance capacity and effectively establish an online presence, industry scheduling and ordering systems. The pandemic showed how local restaurants and local businesses need an online presence for customers to access in the event of brick and mortar failure. Restaurants without an online presence or online ordering system suffered more than  larger franchise restaurants that have online ordering capability. Task A: Use CERRI Small Business Survey to determine topics  Task B: Partner with. JCC's Small Business Center to schedule workshops/seminars in Princeton Responsible Party: Town of Princeton/(proposed) Princeton Downtown Advisory Board (Economic Vitality)  In-House or Outsource: both Cost/Time: TBD  Partners/Assistance: JCC Small Business Center, Triangle East Chamber of Commerce  Date Tol Be Completed: Start by October 2022  Community Economic Resiliency  Strategy 2- Improve Quality of Life for All Residents of Princeton  Objective 2-1: Increase the numberofvisitorst to the Town and offermore Ppenuntefercommuny  odalzatom/gatnerng:  Action 2-1: Develop sidewalk and street lightingimplementation plan  Purpose: Although there are sidewalks in much of the downtown area, there are alsos some notable gapsi int the sidewalk network that limit the ability of pedestrians to travel around the area. Including the entirety of Dr. Donnie Jones Jr. Blvd., which does not have sidewalks except a short section in front of the Middle/High School and has high-speed traffic and no safe space to walk.2 The community has expressed. a desire for more. streetlighting.  Task A: dentily/inventory future sidewalk network Task B: Determine phased construction plan schedule Task B: Identify/inventory future streetlight locations Task C: Determine phased installation schedule  Responsible Party: Town of Princeton In-House or Outsource: to be determined  Cost/Time: TBD  Partners/Assistance: Duke Energy Progress (streetlights) Action 2-2: Increase wayfinding-sign locations  Date To Be Completed: June 2026  Purpose: The genesis of community wayfinding usually begins with al local desire to guide residents and visitors to downtown commercial districts, public services, amenities, and other places of interest within county, town and city  2: Town of Princeton Land Use Plan 2020, Page 21  Princeton CERRI Implementation Plan Final Draft 09-12-22  5    limits. Wayfinding programs seek tol bring awareness oft the museums, retail districts, historical areas, and landmarks that visitors may not know about and that may not be included in modern navigation technologies."  Task A: Create map with proposed sign locations Task B: Determine sign size/type Task C: Destination text fore each sign Task D: Sign design Task E: Determine sign fabricator/Installer Task F: Proposal for NCDOT Task G: Installation Responsible Party: Town. Administrator In-House or Outsource: Both Cost/Time: TBD  Task F: NCDOT Encroachment Agreement (where required)  Partners/Assistance: MS&RPC (NC Dept of Commerce), Planning Department, Local NCDOT representative,  Public Works, consultant (optional), sign designer, sign fabricator, andi installer  Date To Be Completed: December 2024  3 Urban Wayfinding Planning andi Implementation! Manual, Signage Foundation,/ Incl (SFI)2013 Princeton CERRI Implementation Plan Final Draft 09-12-22    MS&RP  NCMAINS STREET RURALI PLANNINGO CENTER  FINAL DRAFT 09-12-22  Community Economic  Recovery & Resiliency Initiative  Town of  PRINCETON  Est 1873  TOWN OF PRINCETON  CERRI REPORT  2022    This page has been intentionally left blank  Princeton CERRI Report Final Draft Sept 12, 2022.  1    Table of Contents Acknowledgements Executive Summary Background Project Development Setting Planning Process Project Goals Data Gathering  5  7 8 10 10 12 12 14 15 15  Planning Committee and Meetings  SWOT Analysis Local Govemment Survey Small Business Survey Woragouplsakeno.er Input. Economic Positioning & Vision Statement  Analysis & Recommendations  Princeton Economic Recovery Workplan Summary (Separate Document)  Princeton CERRI Action List (Separate Document)  Plan Review and Adoption Appendices (Separate document)  Economic Resilience Assessment and Diversity Report  Local Government Survey Results Small Business Survey Results Meeting Agendas & Notes  Princeton CERRI Report Final Draft Sept 12, 2022.  2    Acknowledgements Town of Princeton Board of Commissioners Donald Rains, Mayor Walter Martin Mike Rose Michael Holmes Broderick Robinson Technical Team Bruce Naegelen  Town of Princeton CERRI Workgroup Craig Casey Martha Casey Sharon Creech Gary Deveaux Dennis Mitchell Mike Rose Christie Woodard Trisha Woodard Michael King Town Administrator (5/26- present) Marla Ashworth Town Administrator (until 5/27/22) Curtis Lee, LFNC Fellow Triangle J Council of Governments (until 6/30/22) Katherine Parker Lucas Hometown Strong (Office oft the Governor)  Rural Planning NC Department of Commerce  Plan Adoption  Princeton Board of Commissioners -XX,2022  Princeton CERRI Report Final Draft Sept. 12, 2022.  3    m - MS&RP  NCMAIN! STREET & RURALI PLANNING CENTER  DFPARTMENT OF COMMFRCF  This report was completed with assistance from the North Carolina Department of Commerce Main Street & Rural Planning Center.  Princeton CERRI Report Final Draft Sept. 12, 2022.  4    Executive Summary  Economic Resiliency'  The ability to recover quickly from a shock The ability to withstand a shock The ability to avoid the shock altogether  This report is intended to offer guidance to county and local leaders in Princeton on expanding and improving support structures for local small business owners and boosting the local economy in the wake of the COVID-19 pandemic. This document is meant to The recommendations in this report were drafted by the local work group with assistance from NC Department of Commerce staff utilizing feedback from community stakeholders, small business owners, and other relevant economic data. The conversations and meetings that shaped this report took place between February 2022 and August 2022. Due to its location along an existing east-west corridor and future interstate highway, proximity to I-95, Raleigh, Goldsboro, Seymour Johnson Air Force Base, Wilson, and expected growth especially from the west, the Town of Princeton is well positioned for Like many communities since March 2020, the town has seen impacts from the COVID- 19 pandemic. With some support structures already in place for small business owners and a desire from community leaders to continue building on these structures, the Town of Princeton has the ability and opportunity to contribute to its economic recovery.  complement and build on other local planning efforts.  increased business and residential development.  LUSE Economic Development. Administration Princeton CERRI Report Final Draft Sept 12, 2022.  5    Background Project Development COVID-19 Impacts  The ongoing COVID-19 pandemic has had significant impacts on many rural communities in North Carolina and the Town of Princeton has been no exception, albeit to a slightly lesser level. All business were affected by the temporary closures during the summer of 2020. Many small businesses in the community report supply chain concerns and workforce issues. In addition, there is still concern that a resurgence of Coronavirus cases could trigger future business closures. The cancellation of annual community events and the absence of some foot traffic have also been concerns for the local business  community.  Princeton CERRI Project  These factors and the desire to support the small business community led county officials to collaborate with the NC Main Street & Rural Planning Center staff on the Community Economic Recovery and Resiliency Initiative (CERRI). The CERRI was developed by the NC Department of Commerce's Rural Planning program (RPP) to help small towns and rural communities, with populations under 5,0002, recover from the economic impacts of Ar memorandum of understanding and Resolution for the Princeton CERRI project was developed by RPP staff and adopted by the Board of Commissioners at their meeting on November 1, 2021. The Town of Princeton then asked community members to participate in the local work group and meetings of the group began on February 24, 2022. Further detail about the planning meetings can be found in the "Planning Process" section of this  the COVID-19 pandemic and build resilient local economies.  document. Setting  Princeton (Johnston County) is in eastern North Carolina and was incorporated as the town of Boon Hill in 1861, named in homage to the nearby Boon family plantation. It was renamed Princeton in 1873. In 1914 the Gurley Mill was constructed as a corn and feed mill. By 2020 it was the oldest structure in Princeton, until it burned down in November. The Princeton Graded School, a historic Rosenwald school, is listed on the National Register of Historic Places. Princeton consists of 1 square mile.US Route 70 runs along the northern edge of town, leading northwest 9 miles to Interstate 95 near Selma and southeast 11 miles to Goldsboro. Princeton has a certified population of  1,326 as of July 1, 2020.  2There were no population limitations during the initial roll-out oft the Community Economic Recovery & Resiliency Initiative.  Certain eligibilities became effective with CERRI2022. Princeton CERRI Report Final Draft Sept. 12, 2022.  6    Planning Process  Planning Committee & Meetings  Beginning in February 2022, the Rural Planning team met with the local work group fora series of three sessions to discuss the impacts of COVID-19 on the community. During these sessions the work group reviewed data collected by the technical team, completed a SWOT analysis, and work plan. All meetings were held in person, with participants The Princeton CERRI project sought to identify ways in which the local government could act to assist the small business community during current and future economic crises.  adhering to safety protocols.  Project Goals  Identify impacts oft the COVID-19 pandemic on small businesses in Princeton  Identify support services needed for current businesses Prioritize potential projects to benefit the local economy Strategize for potential future business development  Ins service of these goals, the technical team completed interviews with a variety of community: stakeholders, a survey oft the local government, a survey of the small business community, and additional research on the economic conditions of the community prior A full outline of the planning meetings can be seen in the table below. Meeting agendas  to and during the pandemic.  can be found in the appendices of this document. Princeton CERRI Project Outline  Meeting Date February 24, 2022 May 9, 2022  Topic(s)  Introduction to CERRI, Role of the Work Group, Presentation of Community Assessment Data; Development of SWOT, Impacts of Review: SWOT; Asset Identification, Business Survey results & draft of CERRI Report; present Economic Diversity Report; determine status of economic positioning/vision statement; review Implementation Plan development process Final review of CERRI Report, Implementation Plan & Economic  COVID-19 on the community  June 14/July 13, 2022 Economic Positioning/Vision Workshop/F Final draft of statement  August 16, 2022  Diversity Report  Princeton CERRI Report Final Draft Sept 12, 2022.  7    Data Gathering  SWOT Analysis (Strengths, Weaknesses, Opportunities, Threats)  The local work group completed a SWOT Analysis identifying perceived strengths, weaknesses, opportunities, and threats. Strengths and weaknesses represent internal conditions that the local government has some control over while opportunities and threats represent outside factors that are beyond local government control. The results of the SWOT Analysis are displayed below in order of most important to least important as  ranked by the local work group.  Strengths  Weaknesses  Available land southern part oft town Community School system (K-12) Drainage work underwayi in downtown DTI Business Improvement District (BID) DTC commercial buildings DT occupancy rates 95% DT parking DTS sidewalks Hallmark quality  Appearance needs beautification Drainage-flooding issues (in process) DTaesthetics & appearance DT School-related traffic congestion/backups DT Sidewalk gaps DT trucks use as pass-through DT vehicle traffic (speed) bldgs.  Lack of building maintenance on vacant commercial Lack of doctors/dentists good med bldg. vacant Lack of restaurants - breakiasv/unch/dimner Lack ofv vacant commercial buildings (95% occupancy) Lack ofv vacant residential lots available Low on sewer capacity due to growth and inflow & Needs cost effective utilities (economies of scale) Only 1 vacant lot available for sale (Gurley Mill site) Lack of Industrial inventory (buildings and land)  Princeton Church R3 (Volunteers) Princeton Community Center Proximity to Hwy 70 (future I-42)/1-95 Proximity to pharma industry Proximity to Seymour Johnson Air Force Base (Goldsboro) Sewer capacity (town controls) Walmart "buster" Wayfinding signage (limited)  Lack of nightlife Lack of public art  infiltration (1&1)  Streetlights need more Wayfinding signage (limited)  Princeton CERRI Report Final Draft Sept 12, 2022.  8    Opportunities  Threats  Community Center upgrade & expansion forr multi-purpose use Brewery distillery Community park upgrade Dog Park  Fear of change intersections  I-42 (future) create traffic congestion at some I-42 (future) dislocating some businesses I-42 (future) Increased travel time from north side  DT façade grant program DTs streetscape improvements Entertainment/sports Farmers/produce market Food trucks  of town  Industry - reserve land & infrastructure Infrastructure -funding via ARPA Linear park along railroad Longer/later hours for downtown businesses Medical building (vacant) for doctor/dentist (ECU Clinic?) Mini-parks  Nightlife - live music/gathering places Off-street parking potential (LUP)  Public art Restaurants Sidewalks & crosswalks (LUP) Traffic-calming and other intersection improvements (LUP) Urban trails Wayfinding signage increase  Princeton CERRI Report Final Draft Sept. 12, 2022.  9    Local Government Survey  In order to determine what services are currently being provided by the local government to the small business community, the technical team prepared a survey to be completed by local government staff. The survey questions were divided into three categories: information and resources, communication and support, and equalonyenvronment. The results of the Local Government Survey from Town of Princeton are displayed below.  Information & Resources  Currently Provided  Not Currently Provided 1. Local business listing webpagewebsite) 2. Information on how to start al business 3. Business continuity planning 4. List of local, state &1 federal resources Recommendations: 1. Add al Local Business Listing page to Town's website or partner with another agency that would allow Princeton to link toitv via Town's website 2. Partner with Johnston Community College Small Business Center to provide information about how to starta a business/Business Continuity Planning 3. Create al list of resources and post on Town website  Business Incentive Grant Façade Grant  Wayfinding signage to commercial districts  Communication & Support  Currently Provided Input from businesses on impact of local regulations and policies Promotes community resources providing support to small businesses Provides permitting and zoning information Celebrates success of businesses and importance to community Creates/promotes SHOP LOCAL campaigns  Not Currently Provided  1. Identification of business expansions 1. Keep track of new businesses and business expansions and promote via Facebook and other outlets as appropriate.  Recommendations:  Regulatory Environment  Currently Provided  Not Currently Provided  Provides timely reaction for request for permit 1. Transparent timelines of permit process  approvals Provides mult-department review of new business openings Removes outdate laws  Recommendations:  1. Provide process policy/procedures and post on Town website  Partnerships  Triangle East Chamber of Commerce Johnston County Economic Development Princeton CERRI Report Final Draft Sept. 12, 2022.  JCC Small Business Development Center NC Department of Commerce  10    Small Business Survey  MS&RPC created a digital business survey that was distributed by the Town of Princeton, The survey was designed to identify the perceived impacts of the COVID-19 pandemic on the small businesses within the Town of Princeton as well as any assistance needed The majority of respondents were from downtown (14), the rest (3) from within city limits, with a variety of business/ndustry types represented. Healthcare & Social Assistance, Food Services, Professional, Scientific, & Technical Services, and Manufacturing (2 each); 1 each from Educational Services, Retail, Construction and Finance & Insurance. There were 5 who classified as "Other" but due to a glitch in the survey tool, the business Small businesses in Princeton seemed to fare better than average during the pandemic. Amajority of the businesses remained open during the onset oft the COVID-19 pandemic (March = June 2020). Most of the businesses that closed reopened after 5 months and a few were closed 6-9 months. A majority of businesses prior to the start of the pandemic employed fewer than 5 people compared to the those with 5-25 employees. At the time of the survey, in the Spring of 2022, the number ofemployees in the 5-or-less employees businesses increased, and the 5-25 employee businesses dropped by about 6%. Only four respondents reported changes to their business model due to the pandemic. Changes included converting to mostly appointments and fewer walk-ins; drop-shipping online products to clients; serving one client at a time versus two to three and adhering to stricter sanitation protocols between clients. Also providing delivery services to clients Business owners received pandemic information from local TV news, Social Media and  and the local work group to the local small business community.  by those businesses. There were 17 respondents to the survey.  type is unidentified.  and restructuring patient flows.  Town of Princeton website, respectively.  Top concerns of business owners in Princeton were:  Supply ori inventory disruptions due to the pandemic. (82%) Resurgence of coronavirus cases that trigger additional business closures  (77%)  Customer health & safety (71%) Ability to hire qualified staff (70%) Staff health & Safety (59%)  Event cancellations and reduced participation (59%)  Princeton CERRI Report Final Draft Sept 12, 2022.  11    When asked what types of training or information would be most helpful to their  businesses, top responses included:  Resources to find qualified employees Information on financial assistance Development of a business network Technical training on social media  Technical training on website development and e-commerce  Slightly more respondents felt the local government sought input from the small business A majority of the respondents were not_aware of business assistance available in Princeton/Johnston County. However, several did mention the town's Building Façade & Building Improvement grant programs. Also noted were Johnston Community Colleges' When asked what their business needed to prepare for future disruptions such as fire,  community when developing policy.  Small Business Center and local economic development incentives. floods, hurricanes, or pandemics, responses included:  Improved drainage was mentioned by about half of the respondents Develop a "business alert system" to notify business owners of emergency  events near places of business Insurance policy Good accounting records  Investment or project that Town of Princeton could undertake for greatest economic  impact included:  Streets, sidewalks, and street lighting Attracting more businesses to downtown Attract more downtown food places  Nightlife opportunities - businesses that would encourage people to walk  around  The complete Small Business Survey results can be found in the appendices of this  document.  Work Group/Stakeholder Input  The Work Group, identified at the beginning of this report, included small business and property owners, business professionals, residents, elected officials, and other Members participated in a confidential, on-line survey which allowed the group to share their vision and perception of the business community and the local government. Several  stakeholders.  themes, summarized below, emerged from the survey. Princeton CERRI Report Final Draft Sept. 12, 2022.  12    When asked "What Makes Princeton a Great Place to Live, Work & Play?" most noted the sense of community in their eagerness to support each other, community pride through the schools in town, and that small town community feeling. It was also noted that the town has the essential businesses needed, including two grocery stores, a They said that Princeton's Unique Role in the Economy" includes being located on US 70 (I-42) between Raleigh/Smithfield and Goldsboro" provides an opportunity for Among Princeton's Greatest Under-Valued or under-Developed Resources" include:  pediatric practice, and a park near downtown.  industrial growth, and re-use of brownfield sites for small businesses.  Open fields surrounding town that could be developed for homes and Undeveloped brownfield sites offer opportunities for expansion  business  The vacant medical office for a physician  When asked "What Goods & Services or Quality of Life Amenities are Missing in  Princeton?" the majority responses included:  Medical services / Physician Dining options  Night businesses that would draw in people to downtown  Growth and the town's ability to keep up or get ahead ofi it is "What Scares You the Most about Princeton's Future.' Nearly half of the comments referenced growth issues, including infrastructure. There were also concerns that rising costs to operate the town might result in higher taxes, and leadership might not have enough forward thinking. At the same time, a fear of stagnation and complacency with contentment in staying the Ing general, the town needs to keep its small town feel; beautification, art and more businesses; measured growth; More encouragement, including by town leaders, of Shop Local among established and new businesses; Continued improvement of downtown; More home ownership and smaller percentage ofr rental homes; Expansion of sustainable mixed-use areas, expansion of housing types (increased density, missing middle); at focus  same.  on quality development (no storage facilities).  Additional Research  In addition to the previously summarized surveys, interviews, and work group discussions, the technical team utilized a number of traditional data tools to perform an Economic Resilience and Diversity Assessment. This assessment was presented to the local work group at the May 9, 2022, session and a report of the data was delivered to The full Economic Resilience and Diversity Report is included in the appendices of this  town staff. document.  Princeton CERRI Report Final Draft Sept. 12, 2022.  13    Economic Positioning/Vision  Visioning is the process of developing consensus about what future the community wants, and then deciding what Economic Positioning is the economic role your community plays in the county, region, and state.  is necessary to achieve it.  Ad community economic positioninglvision statement provides a forward-looking strategic framework to help guide local government and the community make disciplined, tactical, On June 14, 2022, an Economic Positioning/Vision Workshop was held at. Just Desserts, 108 Pine Street to identify a community-wide vision of Princeton's economic future. This meeting was open to all residents, business owners, and interested parties. Int total, thirteen Princeton residents and business/property owners participated in the Economic Positioning/Vision Workshop. Placed into 4 teams, the participants reviewed Economic Drivers, strengths, weaknesses and opportunities and each team developed an economic positioning/vision statement that was shared with the whole group. From those statements the following is proposed as Princeton's new economic  and incremental decisions on community issues as they arise.  positioningvision statement:  Economic Positioning/Vision Statement  Princeton is the bridge between central and eastern North Carolina located on (future) I-42. The community schools, safe neighborhoods, small town stability, and active downtown and night life, provide a welcoming environment fostering  all styles of commercial and cultural creativity.  Princeton CERRI Report Final Draft Sept 12, 2022.  14    Analysis & Recommendations  The Princeton CERRI Work Group developed the following recommendations for policies, programs, and projects to further support the small business community in the Town of Princeton. The recommendations are organized into the following strategies and  categories:  Strategy 1: Develop Downtown Princeton as a Destination Strategy 2: Improve Quality of Life for All Residents of Town of Princeton  Community Economic Resiliency Small Business Support  The action items oft the Princeton CERRI Economic Recovery Work Plan are in a separate  document.  Plan Review & Adoption  This document was produced July 22, 2022, and shared with the Princeton CERRI Work Group on July 29, 2022, fori final review and comment on August 16, 2022. The Princeton Town Board considered adoption of the Report and Work Plan, which was adopted on  Month/Date/Yearl,  Princeton CERRI Report Final Draft Sept 12, 2022.  15    Town of Princeton  Memo  To: Mayor and Commissioners From: April Williamson CC: Date: 9/28/2022  Re: KS Bank, Inc. Account Signer  The Board needs to give Town Administrator Michael King authorization to make transactions on any of the deposit accounts that the Town has with KSI Bank Inc. Also, TAI Kingy will need to be given authorization to be added a signer ont the deposit accounts. Thel Board will needi to discuss whether they would likel Marla Ashworth tol be removed from the signer list. Town Clerk April Williamson needs  authorization to continue to bes signer for KS Bank Inc.  1. Motion to add Town Administrator Michael King authorization to make transactions 2. Motion to authorize Town Administrator Michael King and Town Clerk April Williamson to be  signers oni the deposit accounts fort the Town of Princeton  3. Discuss the removal of Marla Ashworth    Town of Princeton  Memo  To: Mayor and Commissioners From: Michael King CC: Date: 9/28/2022  Re: RFP-Town of Princeton USDAI BANS  The emailed sent on September 27, 2022 is below and was agreed to by email to go with KS Bank. We now needi tot formally adopt thei financing quote from KS Bank for $310K at 3.5%. Ihave included alli the Board -I hate to email you thisi information but lhavei to gett this tot the USDA/LGC TODAY. We received 31 financing quotes which Ihave attached as well for yout to review and vote on. The deadline fors submittals was yesterday and USDA/LGC needs our answer on whom we choose TODAY.  paperwork fory your record.  Breakdown: KS$310K @ 3.5% Southern $310K @ 4.73% Truist $310K @ 3.97%  Myr recommendation is David Barber with KS Bank. :                            9  BOARD OF COMMISSIONERS TOWN OF PRINCETON, NORTH CAROLINA  OFTHE  Excerpt of Minutes of Meeting of October 3, 2022  Present: Commissioners: Absent:  Mayor Donald B. Rains presiding, and  Commissioner  introduced the following resolution, the title of which was  read:  RESOLUTIONAUTHORIZINGTHE ISSUANCE. ANDSALE OF WATER AND SEWER SYSTEM REVENUE BOND ANTICIPATION NOTES OF THE TOWN OF PRINCETON, NORTH CAROLINA IN THE AGGREGATE PRINCIPAL  AMOUNT OF $310,000  WHEREAS, the Town of Princeton, North Carolina (the "Town") acting by and through its Board of Commissioners (the "Board") has determined that the issuance oft the bonds to: finance improvements toi its water and: sewer system including, but not limited to, (a) rehabilitating existing water distribution facilities, (b) rehabilitating existing sanitary sewer facilities, and (c) renovating facilities at the wastewater treatment plant, located in the Town of Princeton, Johnston County, North Carolina (collectively, the Project") will benefit and be in the best interests of the Town;  and  WHEREAS, on this day, the Board of Commissioners for the Town has adopted a bond order (the "Bond Order") that authorizes the issuance of certain Bonds and' bond anticipation notes  ina accordance with Section 2.10 thereof; and  NOW,THEREFORE, BEITRESOLVED byt the Board ofCommissioners of the' Town:  ARTICLEI DEFINITIONS  Section 1.1 Meaning of Words and' Terms. Unless otherwise required by the context, capitalized words and terms used herein which are defined in the Bond Order shall have the meanings assigned to them therein, and the following capitalized words and terms shall have the  following meanings:    "Bond Order" means the Bond Order adopted by the Town Board of Commissioners on January 16, 2012, authorizing and securing the issuance of Bonds, including the Series 2022 Bond Anticipation Notes, together with all orders amendatory hereof and all orders supplemental hereto  as herein permitted. Section 2.01.  "Bond Registrar" means the Town Administrator of the Town, as designated by "Business Day" means a day that is not a Saturday or a Sunday and is a day that the Bond  Registrar is open for the conducting of business.  "Closing" means the delivery of and payment for the Notes. "Closing Date" means the date of the Closing.  "Interest Payment Date" means the date of final maturity of the Notes, which is October "Notes" means the $310,000 Town of Princeton, North Carolina Water and Sewer System Revenue Bond Anticipation Notes, Series 2022 issued pursuant to the Bond Order and this Series  20,2023.  Resolution.  "Project Fund" means the fund created and SO designated by Section 4.01. "Purchaser" means KS Bank, Inc., as the original purchaser of the Notes.  "Rate Adjustment Event" means any determination by the Internal Revenue Service, any federal administrative agency or any court (a) that the Town has taken an action, or failed to take an action, with the result that the interest on the Notes isi includable in gross income oft the owners thereof for federal income tax purposes, or (b) that the Notes are not a "qualified tax-exempt obligation" within the meaning of Section 265 of the Code as a result of (i) any action the Town takes, or fails to take, or (ii) any representation made by the' Town being a misrepresentation.  "Regular Record Date" means the Business Day next] preceding any Interest Payment Date. Section 1.2 Rules of Construction. Words of the masculine gender shall be deemed and construed to include correlative words of the feminine and neuter genders. Unless the context shall otherwise indicate, words used herein shall include the plural as well as the singular number. References herein to particular articles or sections are references to articles or sections of this  Series Resolution unless some other reference is indicated.  ARTICLEII  AUTHORIZATION, FORM, ISSUANCE. AND DELIVERY OF THE. NOTES Section 2.1 Authorization and Issuance of the Notes. The Town hereby authorizes the issuance of the Series 2022 Bond Anticipation Notes designated "Town of Princeton, North Carolina Water and Sewer System Revenue Bond Anticipation Notes, Series 2022" in the aggregate principal amount of $310,000 for the purpose of providing funds, together with any  2    other available funds, to (a) pay the costs of the Project and (b) pay the other costs and expenses incurred in connection with the issuance of the Notes. The Notes shall be issued under and pursuant to the Constitution and the laws of the State, including the Act, the Bond Order and this Series Resolution, subject to the conditions set forth herein and therein, and will be sold to the  Purchaser.  The Town Administrator oft the Town is hereby appointed as Bond Registrar for the Notes Section 2.2 Form of Notes. The definitive Notes shall be initially issued as one fully registered note without coupons numbered R-1 in the aggregate principal amount of$310,000, and shall bei initially registered in the name oft thel Purchaser. The definitive Notes shall be substantially in the form set forth in Exhibit A attached hereto and made a part hereof, with such appropriate variations, omissions and insertions as are permitted or required by the Bond Order or this Series Resolution. Notwithstanding anything in the Bond Order to the contrary, the Notes may be transferred in the manner specified in the Bond Order, but may not be exchanged for any  pursuant to the provisions of the Bond Order and this Series Resolution.  denomination other than the outstanding principal amount thereof.  Notwithstanding any other provisions of the Bond Order or this Series Resolution to the contrary, the Bond Registrar shall not register the transfer of the Notes to any person other than a bank, insurance company or similar financial institution unless such transfer has been previously approved by the Commission. The provisions of this paragraph may not be amended without the  prior written consent of the Commission.  Section 2.3 Details of Notes. The Notes shall be dated the Closing Date, shall bear interest at a rate of3.50% per annum (computed on thel basis ofa 360-day year consisting oftwelve 30-day months), except as provided below, such principal and interest being payable semi- annually in arrears on each Interest Payment Date, with a final stated principal installment maturing on October 20, 2023, all as set forth in the form of the Notes included in Exhibit A  attached hereto and made a part hereof.  From and after a Rate Adjustment Event, the annualized interest rate used to calculate the interest on the Notes shall change to such rate as the then current Holder of the Notes may reasonably determine shall be appropriate to provide such Holder with the same tax equivalent yield as it enjoyed prior to the Rate Adjustment Event; provided, however, that such Holder shall provide to the Town a description of the methodology used to determine such tax equivalent yield. Upon each Rate Adjustment Event, the schedule for payment of principal interest on the Notes shall be adjusted from and after the date ofs such Rate Adjustment Event to reflect level annual debt service payments for the remaining term of the Notes based on the new interest rate to be borne by the Notes. The Town shall additionally pay to such Holder or to any prior Holder any taxes, interest, penalties or other charges assessed against or payable by such Holder or prior Holder and attributable to a Rate Adjustment Event, notwithstanding the repayment of the entire principal  amount of the Notes or any transfer or assignment oft the Notes.  Principal of and interest on the Notes are payable, to such account in the United States as the Holder may designate, by wire transfer or other immediately available funds delivered on the  payable date.  3    Section 2.4 Terms and Condition for Issuance of Notes. The Notes shall be executed substantially in the form and in the manner herein and in the Bond Order set forth and shall be deposited with the Bond Registrar for authentication, but before the Notes shall be authenticated and delivered to the State Treasurer for redelivery to the Purchaser, there shall be filed with the Bond Registrar and the Purchaser, in addition to the items required to be delivered pursuant to  Section 2.08 of the Bond Order, the following:  (a) an opinion of bond counsel to the Town to the effect that the Notes have been validly issued in accordance with the provisions of the Bond Order and this Series  Resolution in form and substance satisfactory to the Purchaser; the Purchaser and bond counsel to the Town; and the Bond Registrar, the Purchaser or bond counsel.  (b) an opinion of the counsel to the Town in form and substance satisfactory to (c) such other documentation or opinions as may reasonably be requested by When the documents mentioned in Section 2.08 oft the Bond Order and subsections (a) to (c), inclusive, of this Section shall have been filed with the Bond Registrar and thel Purchaser, and when the Notes shall have been executed and authenticated as required by the Bond Order and this Series Resolution, the Notes shall be delivered to or upon the order of the State Treasurer for redelivery to or upon the order oft the Purchaser, but only upon the deposit with thel Bond Registrar  of the purchase price of the Notes.  Simultaneously with the Closing and the deposit oft thej proceeds of thel Notes with thel Bond Registrar, the Bond Registrar shall cause the proceeds of the Notes in the amount of $310,000 (representing the par amount of Notes) to be deposited to the credit of the Project Fund.  ARTICLEIII REDEMPTIONOF NOTES  Section 3.1 Redemption of Notes. The principal installment of the Notes shall not be  subject to redemption prior to its maturity or payment dates.  Section 3.2 Reserved.  ARTICLEIV  ACCOUNTS, REVENUES AND FUNDS; OTHER COVENANTS  Section 4.1 Payment of Notes. The Town shall, subject to the provisions of Section 5.04 of the Bond Order, cause the Net Revenues deposited in the Revenue Fund tol be used to pay the principal of, premium, if any, and interest on the Notes on each Interest Payment Date  or any redemption date for the Notes.  Section 4.2 Establishment of Project Fund; Disbursement of Money in Project Fund. (a) The Town hereby establishes the "Series 2022 Water and Sewer System Bond Anticipation Notes Project Fund" (the "Project Fund") on its books. The Project Fund shall be  established with and held by the' Town pursuant to this Series Resolution.  4    (b) Money deposited in the Project Fund in accordance with Section 2.04 shall be applied toj pay the costs oft the Project and the costs and expenses incurred in connection with the issuance of the Notes. If the moneys held in the Project Fund and any other moneys provided by the Town are insufficient to pay all of the costs of the Project and costs and expenses incurred in connection with the issuance of the Notes, the Town shall provide any balance of the funds needed to complete the acquisition, construction and equipping of the Project. Any moneys remaining in the Project Fund after completion of the acquisition, construction and equipping of the Project, as evidenced by a written certificate ofcompletion executed byaTown Representative and delivered to the Purchaser stating that the Project has been completed and there are no mechanic's or other liens against the Project for labor or materials furnished in connection with the Project, may be applied on the next Interest Payment Date to repayments of interest and principal Section 4.3 Investment of Money. Money held for the credit of the Project Fund established hereunder shall be continuously invested and reinvested by the Town in Qualified Investments to the extent practicable. Any such Qualified Investments shall mature not later than the dates when the money held for the credit oft the Project Fund will be required for the purposes intended. The Town shall sell or reduce to cash in a commercially reasonable manner a sufficient amount of such Qualified Investments whenever it is necessary to do sO in order toj provide money  installments of the Notes until such time as such moneys are expended.  to make any payment from the Project Fund.  Section 4.4 Payment of Principal and Interest and Premium and Pledge of Net Revenues. The Town covenants that it will promptly pay the principal of and the interest on the Notes issued under the provisions of this Series Resolution at the place, on the dates and in the manner provided herein and int the Notes and any premium required for the retirement of the Notes in whole or in part by purchase or redemption of the Notes, according to the true intent and meaning thereof. The Town further covenants that it will faithfully perform at all times all ofi its covenants, undertakings and agreements contained in this Series Resolution and the Bond Order, orin any Notes executed, authenticated and delivered! hereunder ori in any proceedings of the Town pertaining thereto. Pursuant to NCGS Section 159-163, the Town hereby pledges as security for the Notes, and grants a charge and lien on, the proceeds of Bonds issued for the Project, and agrees to take such action as may be required to issue the Bonds in order to provide funds to pay the principal ofthe Notes upon maturity. The' Town represents and covenants that it is duly authorized under the Constitution and laws of the State, particularly the Act, to issue the Notes authorized hereby and to pledge the proceeds of Bonds and Net Revenues in the manner and to the extent herein and in the Bond Order set forth; that all action on its part for the issuance of the Notes has been duly and effectively taken; and that such Notes in the hands of the Holders thereof are and will be valid and binding special revenue obligations oft the Town payable açcording to their terms. The Notes shall also be secured pari passu as to the pledge of Net Revenues and shall be entitled to the same benefit and security under the Bond Order as all other Bonds issued or incurred  thereunder and then outstanding.  Section 4.5 Tax Covenants. The Town covenants to do and perform all acts and things permitted by law in order to assure that interest paid on the Notes which is excludable from the gross income of its Holders for federal income taxes on the date of its issuance shall continue to  be SO excludable.  5    The Town hereby represents that it reasonably expects that the Town, all entities issuing obligations on behalf of the Town and all subordinate entities of the Town will not issue in the aggregate more than $10,000,000 of tax-exempt obligations (not counting private-activity bonds except for qualified 501(c)(3)bonds as defined by the Code) during the calendar year in which the Notes are being issued. The Town hereby designates the Notes as "qualified tax-exempt  obligations" for purposes of Section 265(b)(3) of the Code.  ARTICLEV THE TRUSTEE  Section 5.1 Designation of' Trustee. The Town may at any time, with the approval of the Commission and the Holder, appoint a' Trustee to administer the provisions of the Bond Order and this Series Resolution and may adopt such supplements to the Bond Order and this Series Resolution as shall be necessary or desirable to effectuate such appointment. Such Trustee shall  meet the requirements set forth in Section IX of the Bond Order.  ARTICLE VI  SUPPLEMENTAL RESOLUTIONS  Section 6.1 Modification Without Consent of Holders. The Town may, from time to time and at any time, without the consent of any Holders of the Notes, execute and deliver such resolutions supplemental hereto (which supplemental resolutions shall thereafter form a part hereof) as shall be substantially consistent with the terms and provisions of this Series Resolution  and shall not materially and adversely affect the interest of the Holders:  (a) tocure anyambiguity or formal defect or omission, to correct or supplement any provision herein that may be inconsistent with any other provision herein, to make any other provisions with respect to matters or questions arising under this Series Resolution or to modify, alter, amend, add to or rescind, in any particular manner, any of the terms or provisions contained in this Series Resolution, as is substantially consistent with the terms and provisions of this Series Resolution and does not materially and adversely affect the  interest of the Holders;  (b) to grant or to confer upon the Holders any additional rights, remedies, powers, authority or security that may lawfully be granted to or conferred upon thel Holders; (c) to add to the covenants and agreements of the Town in this Series Resolution other covenants and agreements thereafter to be observed by the Town or to surrender any right or power herein reserved to or conferred upon the Town; or  (d) top permit the qualification oft this Series Resolution under any federal statute now or hereafter: in effect or under any state blue sky laws, and, in connection therewith, if the Town SO determines, to add to this Series Resolution or any supplemental series resolution such other terms, conditions and provisions as may be permitted or required by  such federal statute or blue sky laws.  6    At least thirty (30) days prior to the execution and delivery of any supplemental series resolution for any of the purposes of this Section, the Bond Registrar shall cause a notice of the proposed supplemental series resolution to be mailed first-class, postage prepaid, to the Commission and to the Holders of the Notes. Such notice shall briefly set forth the nature of the proposed supplemental series resolution and shall state that copies thereof are on file at the principal office of the Bond Registrar for inspection by the Holders of the Notes. A failure on the part of the Bond Registrar to mail the notice required by this Section shall not affect the validity  ofs such supplemental series resolution.  Section 6.2 Modification of Series Resolution With Consent of Holders. Subject to the terms and provisions contained in this Section, and not otherwise, the Holders of the Notes shall have the right, from time to time, anything contained in this Series Resolution to the contrary notwithstanding, to consent to and approve the adoption by the Town of such supplemental series resolutions as shall be deemed necessary or desirable by the Town for the purpose of modifying, altering, amending, adding to or rescinding, in any particular, any of the terms or provisions contained in this Series Resolution or in any supplemental series resolution. Nothing herein contained, however, shall be construed as making necessary the approval by the Holders of the Notes of the execution and delivery of any supplemental series resolution as authorized in  Section 601.  The Bond Registrar shall, at the expense of the Town, such expense to be paid from the Revenue Fund or from any other available moneys, cause notice of the proposed supplemental series resolution to be mailed, postage prepaid, to the Commission and the Holders of the Notes as of the date such notice is mailed. Such notice shall briefly set forth the nature of the proposed supplemental series resolution and shall state that copies thereof are on file at the principal office  of the Bond Registrar for inspection by such Holders.  Whenever, at any time after the date of the mailing of such notice, the Town receives an instrument in writing purporting to be executed by the Holders of the Notes, which instrument shall refer to the proposed supplemental series resolution described in such notice and shall specifically consent to and approve the adoption thereof in substantially the form of the copy thereof referred to in such notice, thereupon, but not otherwise, the Town may adopt such supplemental series resolution in substantially such form, without liability or responsibility to such  Holders.  Ift the Holders of the Notes have consented to and approved the adoption thereof as herein provided, to the extent permitted by law, the Holders shall have no right to object to the adoption of such supplemental series resolutions, to object to any of the terms and provisions contained therein or the operation thereof, to question the propriety of the adoption thereof, or enjoin or restrain the Town from adopting the same or from taking any action pursuant to the provisions  thereof.  Upon the adoption of any supplemental series resolution pursuant to the provisions of this Section or Section 601, this Series Resolution shall be and be deemed to be modified and amended in accordance therewith, and the respective rights, duties and obligations under this Series Resolution of the Town, the Bond Registrar and the Holders of the Notes shall thereafter be  7    determined, exercised and enforced in all respects pursuant to the provisions of this Series  Resolution, as SO modified and amended.  Section 6.3 Responsibilities of Town Under this Article. The Town shall be entitled to exercise its discretion in determining whether or not any proposed supplemental series resolution or any term or provision therein contained is desirable, after considering the purposes ofs such instrument, the needs oft the Town and the rights and interests of the Holders of the Notes.  ARTICLE VII  MISCELLANEOUS PROVISIONS  Section 7.1 Manner of Giving Notice. All notices, demands and requests to be given to or made hereunder by the Town, the Commission or the Bond Registrar shall be given or made in writing and shall be deemed to be properly given ifs sent by United States registered or certified mail, return receipt requested, or by national overnight delivery service addressed as follows:  (a) As to the Town or Bond Registrar = Town of Princeton, North Carolina Post Office Box 67 Princeton, North Carolina 27569 Attention: Town Administrator  (b) As to the Local Government Commission -- North Carolina Local Government Commission 325) N. Salisbury Street Raleigh, North Carolina 27603-1385 Attention: Secretary (c) As to the Purchaser- KS Bank, Inc. 1601 Wayne Memorial Drive Goldsboro, North Carolina 27534 (Attention: David Barber)  Any such notice, demand or request shall be deemed to be properly given on the date such notice, demand or request is received, as evidenced by the receipt or other tracking information  provided by the U.S. Postal Service or the overnight delivery service.  Any of such addresses may be changed at any time upon written notice of such change sent by United States registered or certified mail, postage prepaid, to the other parties by the party  effecting the change.  Section 7.2 Reserved.  8    Section 7.3 Town, Bond Registrar and Holder Alone Have Rights Under Series Resolution. Except as herein otherwise expressly provided, including, without limitation, nothing in this Series Resolution, express or implied, is intended or shall be construed to confer upon any person, firm or corporation, other than the Town, the Bond Registrar and the Holder of the Notes, any right, remedy or claim, legal or equitable, under or by reason of this Series Resolution or any provision being intended to be and being for the sole and exclusive benefit of the Town, the Bond  Registrar and the Holder of the Notes.  Section 7.4 Application to the Commission. The Local Government Commission of North Carolina is hereby requested to sell the Notes at private sale and without advertisement  pursuant to G.S.159-123 to the Purchaser.  Section 7.5 Effect of] Partial Invalidity. In case any one or more of the provisions of this Series Resolution or the Notes shall for any reason be held to be illegal or invalid, such illegality or invalidity shall not affect any other provisions of this Series Resolution or the Notes, but this Series Resolution and the Notes shall be construed and enforced as ifs suchi illegal or invalid provisions had not been contained therein. In case any covenant, stipulation, obligation or agreement contained in this Series Resolution or the Notes shall for any reason be held to be in violation of law, then such covenant, stipulation, obligation or agreement shall be deemed to be the covenant, stipulation, obligation or agreement of the Town to the full extent permitted by law. Section 7.6 Effect of Covenants; Governing Law. All covenants, stipulations, obligations and agreements of the Town contained in this Series Resolution shall be deemed tol be covenants, stipulations, obligations and agreements oft the Town to the full extent permitted by the Constitution and laws oft the State. This Series Resolution is executed and delivered with thei intent  that the laws of the State shall govern this construction.  Section 7.7 Headings. Any heading preceding the text of the several articles hereof, any table of contents or marginal notes appended to copies hereof, shall be solely for convenience of reference and shall not constitute a part of this Series Resolution, nor shall they affect its  meaning, construction or effect.  Section 7.8 Further Authority. The officers, attorneys, employees and other agents of the Town are hereby authorized to do all acts and things required of them by this Series Resolution for the full, punctual and complete performance of all of the terms, covenants and agreements  contained in the Notes and this Series Resolution.  The Mayor, the Town Administrator, the Finance Officer and the Clerk, or any of them or their deputies, are further authorized and directed (without limitation except as expressly provided herein) to take such action and to execute and deliver such documents, certificates, agreements or other instruments as they, with the advice of counsel, may deem necessary or appropriate to effect  the transactions contemplated byt the Bond Order and this Series Resolution.  Section 7.9 Payment Due on Holidays. If the date for making any payment or the last day for performance of any act or the exercising of any right as provided in this Series Resolution is not a Business Day, such payment may be made or act performed or right exercised on the next  9    Business Day with the same force and effect as if done on the date provided in this Series  Resolution. its adoption.  Section 7.10 Series Resolution Effective. This Series Resolution shall take effect upon  Commissioner Commissioner vote:  moved the passage of the foregoing resolution and seconded the motion and the resolution was passed by the following  Ayes: Nays:  Commissioners. Commissioners.  Not voting: Commissioners.  *******  I,April Williamson, Town Clerk for the' Town of Princeton, North Carolina, DO HEREBY CERTIFY that the foregoing is a true and complete copy of sO much of the proceedings of the Board of Commissioners (the "Board") for the Town at a special meeting duly called and held October 3, 2022, as it relates in any way to the bond order and resolution hereinabove set forth, and that the proceedings are recorded in Minute Book No. 16oft the minutes of the Town.  IDO HEREBY FURTHER CERTIFY that due notice of such meeting, stating its time and place and the subjects to be considered, was (1) given to the Mayor and each other member of the Board and posted on the door of the Town Hall at least 48 hours prior to the meeting, and (2)  mailed or delivered as required by G.S. $ 143-318.12  WITNESS my hand and the common seal of the Town, this _3rd_ day of October, 2022.  Clerk,  Town of Princeton, North Carolina  (SEAL)  10    EXHIBIT A  FORM OF NOTES  R-1  $310,000  United States of America State of North Carolina  TOWN OF PRINCETON, NORTH CAROLINA  WATER AND SEWER SYSTEM REVENUE BOND ANTICIPATION NOTES The Town of Princeton, North Carolina (the "Town"), a municipal corporation validly organized and existing under the laws of the State of North Carolina, for value received, hereby promises to pay, but solely from the sources and in the manner hereinafter provided, to KS Bank, Inc., or registered assigns or legal representative, the principal sum of THREE HUNDRED TEN THOUSAND DOLLARS ($310,000) in a single payment of principal due on the date of maturity which is October 20, 2023 (the "Maturity Date"), and toj pay, but solely from said sources, interest from the date hereof on the unpaid portion of said principal sum until payment thereof (computed on the basis ofa a 360-day year consisting of twelve 30-day months) at the rate of3.50% per annum (subject to adjustment as provided below), such interest being payable on the Maturity Date. The interest sO payable and punctually paid or duly provided for on the Maturity Date will be paid to the person in whose name this note is registered at the close of business on the Regular Record Date for such interest, which shall be the Business Day next preceding such date. Any such interest not sO punctually paid or duly provided for shall forthwith cease to be payable to the registered owner on such Regular Record Date, and may be paid to the person in whose name this note ist registered att the close of business on a special record date for the payment ofs such defaulted interest to be fixed by the Finance Officer of the Town (the "Bond Registrar"), notice whereof being given to the registered owners not less than ten (10). days prior to such special record date, or may be paid at any time in any other lawful manner not inconsistent with the requirements of any securities exchange on which the notes (hereinafter mentioned) may be listed and upon such notice as may be required by such exchange, or as more fully provided in the Bond Order (hereinafter defined). All such payments shall be made in such coin or currency of the United States of America as at the time of payment is legal tender for payment of public and private debts. Principal of and interest on this are payable, to such account in the United States as the Holder may designate, by wire transfer or other immediately available funds delivered on the payable date. Upon payment in full of principal and interest on this note, the Holder shall mark this note  SERIES 2022  paid in full and shall deliver the note SO marked to the Bond Registrar.  From and after a Rate Adjustment Event, the annualized interest rate used to calculate the interest on this note shall change tos such rate as the then current Holder oft this note: may reasonably determine shall be appropriate to provide such Holder with the same tax equivalent yield as it enjoyed prior to the Rate Adjustment Event; provided that such Holder shall provide to the Town ad description of the methodology used to determine such tax equivalent yield. Upon each Rate  A-1    Adjustment Event, the schedule for payment of principal interest on this note shall be adjusted from and after the date ofs such Rate Adjustment Event to reflect level annual debt service payments for the remaining term of this note based on the new interest rate to be borne by this note. The Town shall additionally pay to such Holder or to any prior Holder of this note any taxes, interest, penalties or other charges assessed against or payable by such Holder or prior Holder and attributable to a Rate Adjustment Event, notwithstanding the repayment of the entire principal  amount oft this note or any transfer or assignment of this note.  This note is a duly authorized revenue bond anticipation note of the Town designated "Town of] Princeton, North Carolina Water and Sewer System Revenue Bond Anticipation Notes, Series 2022" (the "Notes") issued under and pursuant to the Constitution and laws oft the State of North Carolina, including the Act, an order of the Town adopted on January 16, 2012 (the "Bond authorizing the issuance of the Notes. The Notes are being issued in anticipation of the issuance of Bonds issued for the purpose of providing funds, together with any other available funds, to (a) pay the costs of acquiring, constructing and equipping thel Project (as definedi in the Bond Order and the Series Resolution) and (b) pay the costs and expenses incurred in connection with the issuance oft the Bonds. Capitalized terms used herein and not otherwise defined have the meanings  Order"), and a Series Resolution adopted on October  2022 (the "Series Resolution"),  given such terms in the Bond Order and the Series Resolution.  The Bond Order provides for the issuance or incurrence from time to time under the conditions, limitations and restrictions set forth therein of bonds, notes or other evidences of indebtedness secured by aj pledge ofl Net Revenues. The Notes are a special revenue obligation of the Town secured by a pledge, charge and lien on the proceeds of Bonds to be issued for this Project and by a pledge of Net Revenues on a pari passu basis with any Outstanding Bonds hereafter issued or incurred pursuant to the Bond Order. Pursuant to NCGS Section 159-163, the Town hereby pledges as security for the Notes, and grants a charge and lien on, the proceeds of Bonds issued for the Project. The Town is not obligated toj pay the principal of or the interest on the Notes except as provided in the Bond Order from the proceeds of Bonds, Net Revenues or certain other monies made available therefor under the Bond Order, and neither the faith and credit nor the taxing power of the State ofl North Carolina or any political subdivision thereofo or the Town  is pledged to the payment of the principal of and the interest on the Notes.  Reference is made to the Bond Order and the Series Resolution for a more complete statement of the provisions thereof and of the rights of the Town and the registered owner of the Notes. Copies of the Bond Order and the Series Resolution are available for inspection by the registered owner of the Notes at all reasonable times at the principal office of the Bond Registrar. Byt the purchase and acceptance of the Notes, the registered owner hereof signifies assent to all of  the provisions of the Bond Order and the Series Resolution.  The Bond Registrar shall keep at its principal office books for the registration of transfer of the Notes. The transfer of the Notes may be registered only upon such books and as otherwise provided in the Bond Order upon the surrender hereof to the Bond Registrar together with an assignment duly executed by the registered owner hereof or his attorney or legal representative in such form as shall be satisfactory to the Bond Registrar. Upon any such registration of transfer, the Bond Registrar shall deliver in exchange for the Notes a new bond registered in the name of the transferee in an aggregate principal amount equal to the principal amount of the Notes,  A-2    containing the same principal installments and bearing interest at the same rate. The Notes may not be exchanged for any denomination other than the outstanding principal amount thereof. Notwithstanding any other provisions of the Bond Order or the Series Resolution to the contrary, the Bond Registrar shall not register the transfer of the Notes to any person other than a bank, insurance company or similar financial institution unless such transfer has been previously  approved by the Commission.  The principal of the Note is not subject to redemption prior to the stated maturity. The registered owner oft the Notes shall have no right to enforce the provisions oft the Bond Order or to institute action to enforce the covenants therein, or to take any action with respect to any event of default under the Bond Order, or to institute, appear in or defend any suit or other  proceeding with respect thereto, except as provided in the Bond Order.  Modifications or alterations of the Bond Order and the Series Resolution or in any supplement series resolution thereto may be made only to the extent and in the circumstances  permitted by the Bond Order and the Series Resolution, as the case may be.  The Notes, notwithstanding the provisions for registration of transfer stated herein and contained int the Bond Order and the Series Resolution, at all times shall be, and shall be understood to be, an investment security within the meaning of and for all the purposes of Article 8 of the Uniform Commercial Code of] North Carolina. The Notes are issued with the intent that the laws  of the State of North Carolina shall govern its construction.  All acts, conditions and things required tol happen, exist and be performed precedent to and in the issuance of the Notes and the execution and delivery of the Bond Order and the Series  Resolution have happened, exist and have been performed as sO required.  The Notes shall not be valid or become obligatory for any purpose or be entitled to any benefit or security under the Bond Order or the Series Resolution until it shall have been authenticated by the execution by the Bond Registrar of the certificate of authentication endorsed  hereon.  IN WITNESS WHEREOF, the Town of Princeton, North Carolina, by order duly passed by its Governing Body, has caused this Note to be manually signed by the Mayor and the Town Clerk and its official seal to be impressed hereon, all as of the 20th day of October, 2022.  Mayor  [SEAL]  Town Clerk  A-3    CERTIFICATE OF LOCAL GOVERNMENT COMMISSION  The issuance of the within Note has been approved under the provisions of The State and  Local Government Revenue Bond Act.  Secretary, Local Government Commission  A-4    CERTIFICATE OF AUTHENTICATION  The Note is al bond anticipation note of the series designated therein and issued under the  provisions of the within mentioned Bond Order and Series Resolution.  By:  Bond Registrar  Date of authentication:  A-5    ASSIGNMENT  FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto_  PLEASE INSERT SOCIAL SECURITY NUMBER OR OTHER IDENTIFYING NUMBER OF ASSIGNEE  PLEASE PRINT OR TYPEWRITE NAME. AND ADDRESS OF TRANSFEREE the within note and all right thereunder, and hereby irrevocably constitutes and appoints kept for registration thereof, with full power of substitution in the premises.  attorney, to transfer the within note on the books  Dated: In the presence of:  NOTICE: Signature must be guaranteed by an institution which is a participant in the Securities Transfer Agent Medallion Program (STAMP) or similar program.  The signature to this assignment must correspond with the name as it appears upon the face of the within bond in every particular, without alteration or enlargement or any  change whatever.  A-6    IO  Princeton  Police  Department  POLICE  NC H  Board  Meeting Packet  Monday October 3, 2022    Activity Log Event Summary (Totals)  Princeton Police Department (09/01/2022-0 09/26/2022)  <No Event Type Specified> Alarm Commercial Arrest Report Assist Other Agency Attempt To Locate (Person) Business Checks (Downtown) Disturbance Escort Person/Business) Hit And Run (Vehicle) Larceny (Misdemeanor) Maintenance Vehicle (Wash/Vacuum) Patrol Saturation Patrol Shift Briefing Suspicious Vehicle Traffic Stop- Verbal/Written Warning Training In-Service Warrant Issued (Arrest) Total Number Of Events: 185  2 Administrative Duties Alarm Elementary School Assist. JCSO Assist Pine Level PD Bulding/Residence Check 26 Business Checks (Outlying Areas)  2 1 1 14 3 3 1 1 11 1 13 1 1  1 Domestic 16 Follow-Up 1 Incident Report 2 Maintenance Equipment 1 Noise Complaint 22 Residence Check 1 Service-Town Ordinance Violation 39 Suspicious Activity 1 Talk With Subject 3 Traffic Stop-Citation 1 Unlock (Vehicle/Building) 1 Welfare Check  Date: 09/26/2022-Time: 10:00  Page 1    1  October 3rd Meeting Notes  General  17 loads of yard debris to landfill 2loads of recycle to landfill 11 loads of household garbage to landfill 33 work orders in the past month brackets mounted to poles from previous storms  Replaced all Welcome to Princeton banners downtown and redid Dug out 2 ditches in the town this past month that had washed in Painted restroom doors at community Park and put new signs on Trimmed all trees and low hanging limbs at community park Checked all storm drains, backup generators, low lying ditches, pump  doors  stations and lowered levels for hurricane lan.  Water & Sewer  Collected bacterial samples on distribution system Collected toxicity samples on WWTP  Pulled apart pump number 1&2a at RAS station at WWTP to unclog Collected weekly samples on WWTP 3 times in the past month Pulled 2 pumps in the towns pump stations past month to unclog Fixed and repaired 2 water leaks in the past month  Jetted 2 sewer services in the past month    Budget Vs Actual  12  Town of Princeton 9/21/2022 11:22:41 AM 10 GENERAL FUND Revenues 10-301-1600 2016 Taxes 10.301-17002017Taxe5 10-301-1800 2018 AD' VALOREM TAXES 10:301-19002019 Property Taxes 10-301-2020 2020 Ad Valorem Property 10-30121002021ADVALOREMTAX 10-301-22002022 TAXES 10301-9999TAXINCENTIVE REIMBURSEMENT 10-303-0000 VEHICLE TAX 10-314-0000 ANIMAL TAX-DOGTAGS 10-317-0000 TAXI PENALTIES & INTEREST 10329-0000INTEREST 10-335-0000 MISCELLANEOUS 10-335-0100 CASH OVER/SHORT 10-335-0200 Drug Recovery Funds 10-337-0000 UTILITYFRANCHISE TAX 10-337-5000 NATURAL GAS TAX 10338-0000TELECOMMUNICATION 10-339-0000 VIDEO PROGRAMMING 10-340-0000 SOLID WASTE DISP TAX 10-341-0000 BEER & WINE TAX 10-343-0000 POWELLE BILL ALLOCATION 10-344-0001 NC DOWNTOWN REHAB GRANT 10-344-0002 FEMAI REIMBURSEMENT 10-345-0000 LOCAL GOVERNMENT SALES TAX 10-347-0000 ABCBOARD LOCAL 10-351-0000 FACILITY & OFFICERS FEES 10-352-0000 Parking Violation Penalties 10-355-0000 ZONING PERMITS 10-355-0100 Building Permits 10-359-0100 GARBAGE COLLECTION 10-359-0200 EXTRA TRASH 10-359-0300 RECYLING SALE  Page 1Of18  Period Ending 6/30/2022  Description  Budget 0 0 0 0 2,500 521,289 0 0 51,572 30 1,500 1,500 2,000 0 0 68,366 0 7,067 853 945 5,682 43,312 0 0 244,093 9,200 250 0 4,800 0 189,391 0 0  YTD  Variance Percent  0.00 0.00 53.06 115.22 201.20 517,734.63 0.00 0.00 52,481.05 30.00 2,060.09 240.05 1,817.01 (2.68) 967.27 70,223.23 0.00 5,543.03 868.90 999.82 5,262.63 43,080.99 0.00 0.00 244,122.56 6,336.01 172.00 40.00 2,375.00 0.00 189,178.73 0.00 0.00  0.00 0.00 53.06 115.22 (2,298.80) (3,554.37) 99% 0.00 0.00 909.05 102% 0.00 100% 560.09 137% (1,259.95) 16% (182.99) 91% (2.68) 967.27 1,857.23 103% 0.00 (1,523.97) 78% 15.90 102% 54.82 106% (419.37) 93% (231.01) 99% 0.00 0.00 29.56 100% (2,863.99) 69% (78.00) 69% 40.00 (2,425.00) 49% 0.00 (212.27) 100% 0.00 0.00  8%  Tax  Revenue TAX DISTRIBUTION  FEES    Budget Vs Actual  Town of Princeton 9/21/2022 11:22:41 AM 10 GENERAL FUND PROCEEDS 10-361-0000 COMMUNITY BUILDING RENT 10-368-0100 INSURANCE REIMBURSEMENT 10-368-0200 Loan Proceeds 10-369-0100 MOWINGI LOTS 10-369-0200 COPIES & POLICE REPORTS 10-375-1000 Offsite Payment Fees 10-379-0100 COPS GRANT 10-379-0200 NCIRMA Vest Grant 10-379-0500 GVNRS CR COMM-LLEBG 10-379-0600 NCDENR Solid' Waste Grant 10-379-0800 NC DEQ RECYCLING 10-380-0000 COVID FUNDING 10-397-0000 DISPOSAL OF ASSETS 10-398-0000 Transfer From W&S Fund 10-399-0100 FUND BAL APPROP G/F 10-399-0200 FUND BAL APPROP P/B  Page 20f18  Period Ending 6/30/2022  Description  Budget 2,000 0 0 550 800 0 81,640 0 0 0 0 0 0 0 4,402 14,928 1,258,670  YTD 4,970.00 0.00 0.00 0.00 565.50 0.00 81,640.29 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00  Variance Percent 2,970.00 249% 0.00 0.00 (550.00) (234.50) 71% 0.00 0.29 100% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 (4,402.00) (14,928.00) (27,594.41) 98%  GRANT  Revenues Totals:  0.00 1,231,075.59    Budget VS Actual  Town of Princeton 9/21/2022 11:22:41AM 10GENERAL FUND Expenses 10-410-0000 GOVERNING BODY 10-410-0100 MAYOR & COMMISSIONERS FEE 10-410-0500 Payroll Taxes 10-410-0501 PRIOR YEAR P/R TAXES 10A103401msuarce.woRk Comp GOVERNING BODY Totals: 10-420-0000 ADMINISTRATION 10-420-0100 Salary-Town: Administrator 10-420-0200 SALARY - TOWN CLERK 10-420-0250 SALARV-ASSTCLERK 10-420-0300 LEGAL AUDIT 10420040DATTORNEYS FEE 10-420-0450 ANNEXATION EXPENSES 10-420-0500 PAYROLL TAXES 10-420-0501 PREVIOUS YEAR P/R TAX 10-420-0502 PAYROLLTAXFIUNGPEN 10-420-0600 GROUP INSURANCE 10-420-0800 NCLGERS RETIREMENT 10-420-1000 EDUCATION 10-420-1100 TELEPHONE & FAX 10-420-1110 MASS NOTIFACTION 10-420-1120 Website Expenses 10-420-1150 Internet Service 10420-1300ELECTRICITY-TOWN 10-420-1500, SOFTWARE CONTRACT OAPDDOMANTEMANCE: & REPAIR 10-420-2100 Copier Contract 10-420-2101 Cell Phone Expense 10-420-2600 LEGAL ADVERTISING 10-420-3200 OFFICESUPPLIES/ 10-420-3500 CHECKING SERVICE 104204500Contracted. Services 10-420-4900 ANIMAL EXPENSE 10-420-5300 DUESAND MEMBERSHIPS 10-420-5400 Insurance-Prop & Liab  Page 30f18  Period Ending 6/30/2022  Description  Budget 0 6,300 482 0 55 6,837 0 58,272 19,441 15,077 17,450 8,487 0 7,099 0 0 11,721 10,497 300 552 1,300 2,208 1,511 7,691 4,267 12,863 2,004 668 700 4,419 17,648 484 13 6,517 28,480  YTD  Variance Percent 0.00 0.00 100% (40.08) 108% 0.00 35.46 36% (4.62) 100% 0.00 1,654.83 97% 700.60 96% 543.80 96% 0.00 100% 0.75 100% 0.00 0.68 100% 0.00 0.00 0.45 100% 0.50 100% 0.00 100% 0.99 100% 0.00 100% 0.00 100% 0.02 100% 0.52 100% 0.00 100% 0.28 100% 0.12 100% 0.55 100% 0.86 100% 0.81 100% 0.02 100% 0.20 100% 0.50 96% 0.31 100% 0.00 100%  0.00 6,300.00 522.08 0.00 19.54 6,841.62 0.00 56,617.17 18,740.40 14,533.20 17,450.00 8,486.25 0.00 7,098.32 0.00 0.00 11,720.55 10,496.50 300.00 551.01 1,300.00 2,208.00 1,510.98 7,690.48 4,267.00 12,862.72 2,003.88 667.45 699.14 4,418.19 17,647.98 483.80 12.50 6,516.69 28,480.00  0.00  &INT  SERVICE  HALL BUILDIN  POSTAGE CHARGE    Budget Vs Actual  Town of Princeton 9/21/2022 11:22:41/ AM 10 GENERAL FUND  Page 40f18  Period Ending 6/30/2022  Description  Budget 66 20,248 19,052 30,000 8,053 0 0 317,088 0 1,500 1,500 0 10,389 0 1,625 12,014 0 0 20,425 0 0 0 0 0 20,425 0 242,761 18,572 280 26,294 10,438 26,212 1,462 532 750 3,780 29,165 1,800 1,286 3,131  YTD 65.75 20,247.53 19,052.00 30,000.00 8,052.01 0.00 0.00 314,179.50 0.00 1,499.05 1,499.05 0.00 10,388.94 0.00 1,624.29 12,013.23 0.00 0.00 20,425.00 0.00 0.00 0.00 0.00 0.00 20,425.00 0.00 233,824.14 18,571.96 279.63 26,293.66 10,437.35 26,211.56 1,181.34 532.00 749.94 3,779.27 29,164.82 1,799.32 1,285.20 3,131.00  Variance Percent 0.25 100% 0.47 100% 0.00 100% 0.00 100% 0.99 100% 0.00 0.00 2,908.50 99% 0.00 0.95 100% 0.95 100% 0.00 0.06 100% 0.00 0.71 100% 0.77 100% 0.00 0.00 0.00 100% 0.00 0.00 0.00 0.00 0.00 0.00 100% 0.00 8,936.86 96% 0.04 100% 0.37 100% 0.34 100% 0.65 100% 0.44 100% 280.66 81% 0.00 100% 0.06 100% 0.73 100% 0.18 100% 0.68 100% 0.80 100% 0.00 100%  10-420-5401 Insurance-Work Comp 10-420-5700 MISCELLANEOUS 10-420-7400 CAPITAL OUTLAY 10-420-8100 Debt Service 10-420-8101 Debt Service Interest 10-420-8199 USDA Required Reserve 10-420-9100 CAPITAL RESERVE 10-430-0000 ELECTIONS 10-430-0100 MUNICIPAL 10-460-0000 TAX COLLECTIONS 10-460-0100 COLLECTION FEE-AD VALOREM-JO CO 10-460-0200 COLLECTION FEE- VEHICLE-JO CO 10-460-0300 COLLECTION FEEVEHICLENCDMV TAX COLLECTIONS Totals: 10-490-0000 PLANNING & ZONING 10-490-0200 SALARIES 10-490-0400 CONSULTANT FEES 10-490-0500 PAYROLLTAX 10-490-0600 GROUP INSURANCE 10-490-0800 NCLGERS 10-490-5401 WORKERS COMP 10-490-5700 MISCELLANEOUS PLANNING & ZONING Totals: 10-510-0000 POLICE DEPT. 10-510-0200 SALARIES 10-510-0500 PAYROLL TAXES 10-510-0501 PREVIOUS YEAR P/R TAX 10-510-0600 GROUP INSURANCE 10-510-0700 401-KRETIREMENT 10-510-0800 NCLGERS RETIREMENT 10-510-10001 TRAINING 10-510-1100 TELEPHONE 10-510-1150 INTERNET/CABLETV 10-510-1200 COMMUNICATIONS 10-510-1700 VEHICLEUPKEEP 10-510-2100 Copier Contract 10-510-2101 Cell Phone Expense 10-510-2200 SOFTWARE CONTRACT  ADMINISTRATION Totals:  0.00 0.00  ELECTIONS Totals:  0.00  0.00    Budget VS Actual  Town of Princeton 9/21/2022 11:22:41 AM 10G GENERAL FUND 10-510-3200 SUPPLIES 10-510-3400 DRUG ENFORCEMENT 10-510-3600 UNIFORMS 10-510-5400 Insurance-Prop & Liab PDSOIAANSAMARCANX 10-510-5700 MISCELLANEOUS 10-510-5701 Drug Recovery Funds 10-510-5800 ENCMJNTF DRUG FUNDS 10-510-7400 CAPITAL OUTLAY 10-510-8100 DEBT SERVICE 10-510-8101 Debt Service Interest 10-510-9000 CRIME STOPPERS 10-510-9100CAPITAL RESERVE 10-530-0000 FIRE & RESCUE 10.530.0100FIRETAX 10-530-0200 SALARY PART-TIME FIRE 10-530-0500PAYROLLTAXES 10-530-1300 RESCUE SQUAD DONATION 10.530-5401/nsurance - Work Comp 10-530-9100 CONTRIBUTION 10-540-0000 BUILDINGI INSPECTIONS 10-540-3200 Supplies 10-540-4500 Contracted Services BUILDING INSPECTIONS Totals: 10-560-0000 STREET & SANITATION 10-560-0100SALARIES-ASSTCLK 10-560-0300 SALARIES 105600S0OPAYROLLE TAXES 10-560-0501 Previous Year Payroll Tax 10-560.0600GROUP INSURANCE 10-560-0800 NCLGERS RETIREMENT 10-560-1300 STREETLIGHTS 10-560-1301 ELEC MAINT BLDG 1080,BOBLDGMANT &REPAIR 10-560-1701 PICKUP UPKEEP 10.580-1702GARBAGETRKUPKEEP 10-560-1703 DUMP TRUCK UPKEEP 10-560-1704 BACKHOEUPKEEP 10-560-1705 TRACTOR & BUSHHOG  Page 50f18  Period Ending 6/30/2022  Description  Budget 2,000 569 3,600 0 5,164 720 0 0 1,200 14,837 495 0 0 395,048 0 55,185 32,556 2,491 0 768 0 91,000 0 0 0 0 0 0 135,231 10,346 0 24,210 15,349 20,000 0 0 4,000 8,000 6,000 4,000 500  YTD 1,999.38 0.00 3,599.41 0.00 4,379.69 719.44 0.00 0.00 1,200.00 14,836.36 494.99 0.00 0.00 384,470.46 0.00 42,342.37 32,556.00 2,490.62 0.00 768.00 0.00 78,156.99 0.00 0.00 0.00 0.00 0.00 0.00 130,804.50 10,345.76 0.00 24,209.55 15,348.82 19,999.64 0.00 0.00 3,999.51 7,999.33 5,999.04 3,999.17 499.78  Variance Percent 0.62 100% 569.00 0.59 100% 0.00 784.31 85% 0.56 100% 0.00 0.00 0.00 100% 0.64 100% 0.01 100% 0.00 0.00 10,577.54 97% 0.00 12,842.63 77% 0.00 100% 0.38 100% 0.00 0.00 100% 0.00 12,843.01 86% 0.00 0.00 0.00 0.00 0.00 0.00 4,426.50 97% 0.24 100% 0.00 0.45 100% 0.18 100% 0.36 100% 0.00 0.00 0.49 100% 0.67 100% 0.96 100% 0.83 100% 0.22 100%  Expenditures  POLICE DEPT Totals:  0.00  FIRE & RESCUE Totals:  0.00  0.00    Budget VS Actual  Town of Princeton 9/21/2022 11:22:41 AM 10 GENERAL FUND UPKEEP 10-560-1706LAWNMOWER & WEEDEATERL UPKEEP 10-560-1707 LEAF VACUUM UPKEEP 10-560-1709 CHAINSAW UPKEEP 10-560-2101 Cell Phone Expense 10-560-2102 COPIER CONTRACT 10-560-2200 LANDFILL FEES 10-560-3200 Supplies & Tools 10-560-3500 CLOTHING 10-560-4200 STREET REPAIRS & MATERIALS 10-560-4500 GARBAGE & RECYCLING CONTRACT 10-560-4501 Leaves & Limbs 10-560-4502 Mosquito Spraying 10-560-5400 Insurance-Prop & Liab 10-560-5401 Insurance-Work Comp 10-560-5700 Streets Miscellaneous 10-560-7400 CAPITAL OUTLAYIEQUIPMENT 10-560-8100 DEBT SERVICE 10-560-8101 Debt Service Interest STREET & SANITATION Totals: 10-570-0000 POWELL BILL 10-570-0400 ENGINEERING SERVICES 10-570-4200 STREET REPAIRS& 10-570-4500 CONTRACTED SERVICES 10-570-7400 Capital Outlay 10-570-8100 DEBT SERVICE PRINCIPAL 10-570-8101 DEBT SERVICE INTEREST 10-610-0000 PRINCETON COMMUNITY 10-610-1150 CB INTERNET 10-610-1300 CB ELECTRICITY 10-610-1500 CB UPKEEP 10-610-4501 CB CLEANING CONTRACT 10-610-5700 CB MISCELLANEOUS 10-610-7400 CB CAPITAL OUTLAY 10-610-8100 CB DEBT SERVICE  Page 60f18  Period Ending 6/30/2022  Description  Budget 2,000 200 250 1,980 0 27,750 3,000 3,600 3,500 0 4,000 0 0 5,885 3,500 0 17,493 4,643 305,437 0 58,240 0 0 0 0 0 58,240 0 0 1,300 500 0 200 0 0  YTD 1,999.48 199.56 249.16 1,979.19 0.00 27,749.94 2,999.83 3,599.92 3,499.42 0.00 3,999.26 0.00 0.00 5,884.39 3,499.86 0.00 17,492.62 4,642.33 301,000.06 0.00 58,239.80 0.00 0.00 0.00 0.00 0.00 58,239.80 0.00 0.00 1,299.84 499.30 0.00 199.91 0.00 0.00  Variance Percent  0.52 100% 0.44 100% 0.84 100% 0.81 100% 0.00 0.06 100% 0.17 100% 0.08 100% 0.58 100% 0.00 0.74 100% 0.00 0.00 0.61 100% 0.14 100% 0.00 0.38 100% 0.67 100% 4,436.94 99% 0.00 0.20 100% 0.00 0.00 0.00 0.00 0.00 0.20 100% 0.00 0.00 0.16 100% 0.70 100% 0.00 0.09 100% 0.00 0.00  0.00  MATERIALS  POWELL BILL Totals:  0.00  BUILDIN  PRINCIPAL    Budget VS Actual  Town of Princeton 9/21/2022 11:22:41 AM 10GENERAL FUND 10-610-8101 CB DEBT SERVICE INTEREST 10-620-0000 TOWN PARK 10-620-1150 INTERNET SERVICE FOR PARK SECURITY 10-620-1300 Electricity-Park 10-620-1500 PARK MAINTENANCE 10-620-5700 MISCELLANEOUS 10-620-7400 CAPITAL OUTLAY-PARK RAY M FLOORS COMM Totals: 10-622-0000. APPEARANCE COMMISSION 10-622-5700 MISCELLANEOUS APPEARANCE COMM Totals: 10-690-0000 SPECIAL APPROPRIATIONS 10-690-0100 W&S Fund 10-690-1800 RAYM. FLOORS PARK 10-690-1900 COUNCIL ON AGING 10-690-2000 HARBOR 10-690-9100 CHRISTMAS DECORATIONS 10-690-9400 WOMEN'S IMPROVEMENT CLUB 10-690-9500 LIBRARY 10-690-9600 Secu Hospice House 10-690-9700 COMMUNITY BLDG 10-690-9800 Project Graduation SPECIALAPPROPRIATIONS Totals: 10-999-0000 CONTINGENCY  Page 70f18  Period Ending 6/30/2022  Description  Budget 0 2,000 0 1,200 1,400 6,000 0 0 8,600 0 0 0 0 0 0 500 2,000 0 0 10,900 0 0 0 13,400 27,081 27,081 1,258,670  YTD 0.00 1,999.05 0.00 1,199.22 1,399.73 5,999.10 0.00 0.00 8,598.05 0.00 0.00 0.00 0.00 0.00 0.00 500.00 2,000.00 0.00 0.00 10,900.00 0.00 0.00 0.00 13,400.00 26,775.00 26,775.00  Variance Percent 0.00 0.95 100% 0.00 0.78 100% 0.27 100% 0.90 100% 0.00 0.00 1.95 100% 0.00 0.00 0.00 0.00 0.00 0.00 0.00 100% 0.00 100% 0.00 0.00 0.00 100% 0.00 0.00 0.00 0.00 100% 306.00 99% 306.00 99% 31,072.19 98%  Totals:  0.00  0.00  PARK  0.00  0.00 0.00  CONTINGENCY Totals: Expenses Totals:  0.00 1,227,597.81    Budget VS Actual  Town of Princeton 9/21/2022 11:22:41AM  Page 80f18  Period Ending 6/30/2022  10 GENERAL FUND Totals:  3,477.78    Budget VS Actual  Town of Princeton 9/21/2022 11:22:41 AM 30WATER. AND SEWER FUND Revenues 30329-00INTEREST 30-335-0000 MISCELLANEOUS 30-345-0000APPROPRIATION FROM 30-350-0000 LOAN PROCEEDS 03BB.OIOOINSURANCE REIMBURSEMENT 30-371-0000 WATER/SEWER FEES 30-371-9900 Bad Debt Recovery 30-372-0100 WATER CAPACITY FEES 30-372-0200 SEWER CAPACITY,FEES 30-373-0100 WATER TAPS 30-373-0200SEWER TAPS 30-373-0300 NON REFUNDABLE CUT 30-373-0400 STEP System Review Fee 30-374-0000 Backflow' Testing 30-375-0000 SERVICE CHARGES 30-375-1000 Offsite Payment Fees 30-397-0300 Transfer From GF 30-397-0400 Transfer From Water Reserve 30-397-0500 Transfer From Sewer Reserve 30-399-0000 FUND BALANCE APPROPRIATED  Page 90f18  Period Ending 6/30/2022  Description  Budget 1,000 6,000 0 0 0 668,540 1,800 5,000 5,000 0 0 4,000 490 5,800 20,000 0 0 0 0 31,250 748,880  YTD (1,973.89) 1,450.00 0.00 0.00 0.00 673,432.38 803.28 78,400.00 30,000.00 6,100.00 8,300.00 3,730.00 0,00 5,465.00 20,387.57 0.00 0.00 0.00 0.00 0.00 826,094.34  Variance Percent (2,973.89) -197% (4,550.00) 24% 0.00 0.00 0.00 4,892.38 101% (996.72) 45% 73,400.00 1568% 25,000.00 600% 6,100.00 8,300.00 (270.00) 93% (490.00) (335.00) 94% 387.57 102% 0.00 0.00 0.00 0.00 (31,250.00) 77,214.34 110%  GF  ON FEE  Revenues Totals:  0.00    Budget Vs Actual  Town of Princeton 9/21/2022 11:22:41AM 301 WATER. AND SEWER FUND 30-720-0000 ADMINISTRATION 30-720-0100 SALARIES BILLING 30-720-0200 Maintenance Supervisor 30-720-0300 SALARIES 30-720-0400ENGINEERING SERVICES 30-720-0500 PAYROLL TAXES 30-720-0600 GROUP INSURANCE 30-720-0700 PENSION EXPENSE 30-720-0800 NCLGERS RETIREMENT 30-720-0801 PENSION EXPENSE 30-720-1000 EDUCATION: 30-720-1600 DO NOT USE 30-720-1701 Pickup Upkeep 30-720-1702 DO NOT USE 30-720-1703 DUMP TRUCK UPKEEP 30-720-1704 BACKHOE UPKEEP 30-720-1705 TRACTOR: & BUSHHOG 30-720-1706 LAWN MOWER & WEED 30-720-1710 SEWER JETTER UPKEEP 30-720-2101 CELLPHONE EXPENSE 30-720-2102 COPIER CONTRACT: 30-720-3200 SUPPLIES WATER BILLING 30-720-3500 CLOTHING 30-720-4500 CONTRACTED SERVICES 30-720-5300 DUES & MEMBERSHIPS 30-720-5400 Insurance-Prop & Liab 30-720-5401 Insurance-Work Comop 30-720-5700 MISCELLANEOUS 30-720-7400 CAPITAL OUTLAYEQUIPMENT 30-720-8500 DEPRECIATION EXPENSE 30-720-9100 Capital Reserve 30-810-0000 WATER 30-810-1500 Water Tank Upkeep 30-810-4800 COUNTY WATER PURCHASED 30-810-5300 WATER PERMIT  Page 10Of18  Period Ending 6/30/2022  Description  Budget 2,377 51,658 29,723 94,294 6,000 13,621 23,176 0 17,908 0 165 0 6,875 0 3,642 412 434 774 9 2,243 0 6,244 1,869 240 765 0 5,295 1,104 0 0 16,161 284,989 0 0 140,865 840 141,705  YTD 0.00 52,239.90 28,665.06 91,491.47 (24,312.25) 13,620.65 23,175.54 0.00 17,907.43 0.00 164.70 0.00 6,874.47 0.00 3,641.98 411.24 433.90 773.28 8.27 2,242.13 0.00 6,243.28 1,869.00 240.00 765.00 0.00 5,294.60 1,103.69 0.00 0.00 0.00 232,853.34 0.00 0.00 133,156.41 840.00 133,996.41  Variance Percent 2,377.00 (581.90) 101% 1,057.94 96% 2,802.53 97% 30,312.25 -405% 0.35 100% 0.46 100% 0.00 0.57 100% 0.00 0.30 100% 0.00 0.53 100% 0.00 0.02 100% 0.76 100% 0.10 100% 0.72 100% 0.73 92% 0.87 100% 0.00 0.72 100% 0.00 100% 0.00 100% 0.00 100% 0.00 0.40 100% 0.31 100% 0.00 0.00 16,161.00 52,135.66 82% 0.00 0.00 7,708.59 95% 0.00 100% 7,708.59 95%  Expenses CLERK  UPKEEP EATER UPKEEP  ADMINISTRATION Totals:  0.00  WATER Totals:  0.00    Budget VS Actual  Town of Princeton 9/21/2022 11:22:41AM 30 WATER AND SEWER FUND 30-820-0000 LIFT STATIONS 308ZDAIO0TELEMETRY 30-820-1300 ELECTRICITY-LIFT STATIONS 30-820-1500LIFTSTATIONS UPKEEP 30-820-5300 COLLECTIONS SYSTEM PERMIT 30-820-7400CAPITALOUTLAY EQUIPMENT  Page 11Of18  Period Ending 6/30/2022  Description  Budget 0 1,800 8,500 15,037 810 0 26,147 0 270 20,000 246 38,000 877 1,087 0 73,949 38,844 1,338 174,611 0 42,473 8,000 22,642 5,800 0 31,250 1,263 0 5,000 5,000 121,428 0 0 748,880  YTD 0.00 1,742.02 7,458.09 15,036.44 810.00 0.00 25,046.55 0.00 248.86 19,629.20 246.00 28,177.11 860.00 1,086.57 0.00 73,506.48 37,887.99 0.00 161,642.21 0.00 42,472.32 0.00 22,642.00 4,855.00 0.00 0.00 1,262.35 0.00 0.00 0.00 71,231.67 0.00 0.00 624,770.18  Variance Percent 0.00 57.98 97% 1,041.91 88% 0.56 100% 0.00 100% 0.00 1,100.45 96% 0.00 21.14 92% 370.80 98% 0.00 100% 9,822.89 74% 17.00 98% 0.43 100% 0.00 442.52 99% 956.01 98% 1,338.00 12,968.79 93% 0.00 0.68 100% 8,000.00 0.00 100% 945.00 84% 0.00 31,250.00 0.65 100% 0.00 5,000.00 5,000.00 50,196.33 59% 0.00 0.00 124,109.82 83%  LIFT STATIONS Totals:  0.00  30-822-0000 WWTREATMENT PLANT 308221100TELEMETRY 30-822-1300 ELECTRICITY- SEWER 308221350DECHLOR WATER METER 30-822-1500 SEWER PLANT UPKEEP 30-822-5300.WASTEWATER PERMIT 30-822-5400 NCDENR FINES 30-822-7400 CAPITAL OUTLAY 30-822-8100 DEBT SERVICE & 30-822-8101 Debt Service Interest 30-822-8199 USDA Required Reserve WW TREATMENT PLANT Totals: 30-828-0000 WATER & SEWER UPKEEP 30-828-1500 WATER & SEWER UPKEEP 30-828-4200 CHEMICAL EXPENSES 30-828-4300 Lab Fees 30-828-4400 Backflow Testing 30-828-4500 WTR/WWTR OP CONTRACT 30-828-7300CAPITAL OUTLAY- WATER &SEWER 30-828-7400 CAPITAL OUTLAY- SEWER 30-828-7800DEPRECIATION 30-828-9100 CAPITAL RESERVE 30-828-200CAPITAL RESERVESEWER WATER & SEWER UPKEEP Totals: 30-899-0000 Transfer To General Fund  PLANT  INTEREST  0.00  0.00 0.00 0.00  Totals: Expenses Totals:    Budget Vs Actual  Town of Princeton 9/21/2022 11:22:41A AM  Page 12 Of18  Period Ending 6/30/2022  30 WATER. AND SEWER Totals:  201,324.16  FUND    Budget VS Actual  Town of Princeton 9/21/2022 11:22:41 AM  Page 13Of18  Period Ending 6/30/2022  41GOLDEN LEAF BEAVER DAM DITCH REPAIR  GRANT Revenues  Description  Budget 443,864 443,864  YTD 366,972.85 366,972.85  Variance Percent (76,891.15) 83% (76,891.15) 83%  41-349-0000 GOLDEN LEAF BEAVER DAM DITCH GRANT REVENUE  Revenues Totals:  0.00    Budget VS Actual  Town of Princeton 9/21/2022 11:22:41AM  Page 140f18  Period Ending 6/30/2022  41 GOLDEN LEAF BEAVER DAM DITCH, REPAIR  GRANT Expenses 41-446-0401 GOLDEN LEAF ENGINEERING FEES 41-446-0402 GOLDEN LEAF LEGAL FEES 41-446-0403 GOLDEN LEAF CONSTRUCTION. ADMINISTRATION 41-446-4500 GOLDEN LEAF BEAVER DAM CONSTRUCTION CONTRACT  Description  Budget 410 4,000 39,510 399,944 443,864 443,864  YTD 13,008.25 0.00 32,499.12 316,725.48 362,232.85 362,232.85  Variance Percent (12,598.25) 3173% 4,000.00 7,010.88 82% 83,218.52 79% 81,631.15 82% 81,631.15 82%  Totals: Expenses Totals:  0.00 0.00    Budget VS Actual  Town of Princeton 9/21/2022 11:22:41 AM  Page 15Of18  Period Ending 6/30/2022  41G GOLDEN LEAF BEAVER Totals: DAMI DITCH REPAIR  4,740.00  GRANT    Budget VS Actual  Town of Princeton 9/21/2022 11:22:41 AM  Page 160f18  Period Ending 6/30/2022  42GOLDEN LEAF DOWNTOWN DRAINAGE  GRANT Revenues 42-349-0000 GOLDEN LEAF DOWNTOWN DRAINAGE GRANT REVENUE  Description  Budget 941,788 941,788  YTD 956,377.40 956,377.40  Variance Percent 14,589.35 102% 14,589.35 102%  Revenues Totals:  0.00    Budget VS Actual  Town of Princeton 9/21/2022 11:22:41 AM  Page 17 - Of18  Period Ending 6/30/2022  42GOLDEN LEAF DOWNTOWN DRAINAGE  GRANT Expenses 42-446-0401 GOLDEN LEAF DOWNTOWN DRAINAGE ENGINEERING FEES 42-446-0402 GOLDEN LEAF DOWNTOWN DRAINAGE LEGAL FEES 42-446-0403 GOLDEN LEAF DOWNTOWN! DRAINAGE CONSTRUCTION ADMIN 42-446-4500 GOLDEN LEAF DOWNTOWNI DRAINAGE CONST CONTRACT  Description  Budget 5,938 0 30,000 905,850 941,788 941,788  YTD 33,220.91 0.00 25,799.87 647,734.73 706,755.51 706,755.51  Variance Percent (27,282.86) 559% 0.00 4,200.13 86% 258,115.27 72% 235,032.54 75% 235,032.54 75%  Totals: Expenses Totals:  0.00 0.00    Budget VS Actual  Town of Princeton 9/21/2022 11:22:41AM  Page 18 Of18  Period Ending 6/30/2022  42GOLDENLEAF Totals: DOWNTOWNDRANAGE  249,621.89  GRANT    8  $  1   A    $A  $A  $A  $A  $  A  $A  $A $ $ $    U 0  $A  $A $A  VA  $ $  888  1de  $A  $  $  UA  $A  $A    $A  $A V $    14  TAI Report (October2022) Just a few reminders:  Reminder that Chad is off work the week of October 3-7. Reminder that April is off work the week of October 10-14. Reminder that Iwill be in class in Wilmington on October 7 all day 8-5. Reminder that I will be in class the week of October 10-14.  Reminder Oct 13 or 17 the RR will begin repairs, more likely the 17-20. They will do their Reminder of the "Feel the Burn" run and "Fall Festival" October 15. Reminder of the Downtown Economic Development Meeting October 19 @ 10am Reminder that I will be out of town October 31 and November 1 in Florida. will return Reminder of the Princeton Church "Country Fair" October 31 on Center St. from 6-8pm. Road closes around 3, re-opens after the event. Trick or Treating for the town is also the same night. On September 19, lattended the nightly JCBOCC meeting with Chandra Farmer, JCI Engineer and we were awarded an additional $74,500 for the Massey-Holt Rd project bringing that total to $274,500 which is half of the project cost the County agreed to pay. (Copy Attached) Rural Partners Network with PL, WM, Kenly, FO, Selma, Micro. More info to come on this soon. Purpose: Advance equitable rural prosperity through local job creation, infrastructure development, and community improvement. Potential funding: Community Center, LED: sign for  best to keep at least 1 crossing open.  (Town Hall) on November 2.  the town,  Emilyi is now a certified Public Notary. She passed here exam. We are in the process of updating the zoning and code of ordinances.  Submitted by Michael King, TA