MINUTES King City Council Regular Meeting September 3. 2024  The King City Council convened for its regular meeting at the King City Hall, Council Chambers, 229 S. Main St, King., on Tuesday, September 3, 2024, at 6:00 pm. The purpose of the meeting was to discuss and make decisions on various city matters. Present at the meeting were Mayor Rick McCraw, Mayor Pro Tem Jane Cole, Councilman Tyler Bowles, Councilwoman Terri Fowler, Councilman Michael Lane, City Manager Scott Barrow, City Clerk Nicole Branshaw, City Engineer Ben Marion, Director of Finance and Personnel Susan O'Brien, City Planner Jon Grace, City Inspector Rick Gordon, Fire Chief Steven Roberson, Police Chief. Jordan Boyette, Senior Center Director Paula Hall, Water Plant Superintendent Mark Danley, Supervisor of Public Works Ricky Lewis, Superintendent of Public Utilities Chuck Moser, new employees Jasper White, Kevin  Robertson, Zach Moore, City Attorney Walter W. Pitt Jr., and Chaplain Rick Hughes.  Mayor McCraw called the meeting to order. Chaplain Rick Hughes offered the invocation.  Mayor McCraw mentioned the community announcements listed on the agenda:  ADJUSTMENTS TO AGENDA None. PUBLIC COMMENT  Mayor McCraw opened the floor to receive public comment at 6:04 p.m.  1. Gretchen Parker, King Public Library Branch Manager., King, NC, addressed the Mayor and Council, thanking them and our staff for taking great care of the library. She stated that the property looks great. Mrs. Parker would like to bring attention to Voter's Registration Day at the Library on September 19th, inviting any citizen who néeds to register to vote to please stop by. There being no one to give written or verbal requests wishing to speak. Mayor McCraw closed the meeting's Councilwoman Fowler moved to approve the consent agenda as presented. Mayor Pro Tem Jane Cole  public comment portion at 6:05 p.m. **SEE DOCUMENT #1**  CONSENT AGENDA  seconded the motion, which was carried by a unanimous vote of 4-0.  Consent agenda items were:  A. APPROVAL OF MINUTES: a. August 5, 2024, Regular Meeting  B. REQUEST A PUBLIC HEARING FOR TEXT AMENDMENT TO CITY OF KING ORDINANCES - :. - REQUEST A PUBLIC HEARING FOR SPECIAL USE PERMIT BY PMAIHOLDINGS, LLC  Chapter. 6, Article IV, adopted as Ordinance No. 2024-11  INTRODUCTION OF NEW EMPLOYEES Mayor McCraw recognized new employee: a. Zach Moore - Meter Reader b. Jasper White = Public Works Street Maintenance Kevin Robertson - Firefighter    EMPLOYEE OF THE QUARTER PRESENTATION- Ricky Gordon, Inspections Department  Mayor McCraw recognized Ricky Gordon in the Inspections Department as the City of King Employee of the Quarter for the 3rd quarter of 2024. He presented him with a recognition certificate, jacket, and a check. Mayor Rick McCraw presented a proclamation to the Daughters of the American Revolution, James Hunter PUBLIC HEARING FOR REZONINGI REQUEST BY DONNAHA PROPERTIES LLC- Ordinance No. 2024-11 Donnaha Properties LLC is making this request to rezone approximately 37.78 ac. with 5.25 ac. from B-2 (General Business) to L-I( (Light Industrial) and 32.53 ac. from R-MF-A-CU (Residential Multifamily Apartments Conditional Use) to L-I (Light Industrial) for the purpose of future commercial development. Ingress/Egress tot the property is currently being accessed on the 600 Block of Newsome Rd. The tract is labeled a G-3 Controlled Growth Area on our comp plan, and this area allows for Industrial Districts. The area along Newsome Rd is specifically listed in our 2035 Comp Plan: "Preserving land for industrial growth is especially Mayor McCraw opened the public hearing for Ordinance No. 2024-11 at 6:15 pm. There being no one to give written or verbal requests wishing to speak, Mayor McCraw closed the public hearing at 6:15 pm. This would be recommended as a general-use rezoning request. The property was originally zoned L-I and rezoned to its current zoning. It should be returned to its original zoning to align with our 2035 Comp Plan, as this will preserve land for industrial growth in the Newsome Rd corridor. The Planning Board voted unanimously to approve R-183 as presented. Staff recommends approving R-183 as Ord.# 2024-11. Councilwoman Fowler made a motion to approve Ordinance No. 2024-11 by Donnaha Properties LLC as presented to rezone approximately 37.78 ac. with 5.25 ac. from B-2 (General Business) to L-I (Light Industrial) and 32.53 ac. from R-MF-A-CU (Residential Multifamily Apartments Conditional Use) to L-I (Light Industrial) for the purpose of future commercial development. Mayor Pro Tem Cole seconded the motion,  PRESENTATION OF PROCLAMATION- Constitution Week Chapter, in recognition of Constitution Week.  important along the Newsome Rd corridor."  Motion  which was carried by a unanimous vote of 4-0. **SEE DOCUMENT #2** PRESENTATION-R Richard Brim, Director of Stokes County Tax Administration  Mayor McCraw invited Mr. Richard Brim to speak to discuss the upcoming Stokes County reevaluation process. In the slide presentation, Mr. Brim presented the following information:  Stokes County 2025 Reappraisal. Effective Date: January 1, 2025  What is a Reappraisal, AKA Revaluation?  Ar reappraisal of all Real Property within the County.  Ana appraisal is an opinion of value that should equal the true value (Market Value) of the property. Market Value: The most probable sale price of a property ini terms of money in a competitive and open market, assuming that the buyer and seller are acting prudently and knowledgeably, allowing sufficient time fori the sale, and assuming that the transaction is not affected by undue stimuli.  Real Property, also referred to as real estate or land, is:  The land itself  Buildings, structures, improvements, or permanent fixtures on land All rights and privileges belonging or in any way appertaining to the property  Goals of al Reappraisal  Achieve fair and consistent values across the entire County  Conduct in a manner that the taxpayers are informed and educated of the process Have at finished product that accurately depicts Stokes County's Market among all property classes    Why?  The Machinery Act of North Carolina mandates that all 100 counties perform a Reappraisal of all  Real Property at least every 8 years, based on NCGS 105-286. 105-286 - Time for general Reappraisal of Real Property  Octennial Cycle = Each county must reappraise all real property in accordance with the provisions of G.S. 105-283 and G.S. 105-317 as of January 1 of the year set out in the following schedule and every eighth year thereafter, unless the county is required to advance the date under subdivision (2) of this section or chooses to advance the date under  subdivision (3) of this section.  Why Stokes County Chooses 4  Public Service Companies are the reason Stokes County conducts a reappraisal every 4 years.  Examples of Public Service Companies in Stokes County:  Duke Energy, Duke Energy, Duke Energy, Duke Energy, Duke Energy  Energy United EMC Norfolk Southern Piedmont Natural Gas River Street Communications Windstream And Duke Energy  Why We Mention Duke Energy So Many Times  Duke Energy represents approximately 92.7% of Stokes County's entire Public Service Duke Energy alone represents approximately 16.7% of the entire Stokes County Tax Base Ifa county's sales ratio falls below 90% in the fourth or seventh year of a reappraisal cycle, Example: If Stokes County decided to conduct an eight-year reappraisal cycle as opposed to a four-year cycle, and in the fourth year of the cycle, our sales ratio dropped to 67%, NCDOR would equalize the Public Service Companies' Valuation to reflect the actual sales ratio. Equalization did take placet for Stokes County in 1987; therefore, in 1993, we began conducting By conducting a four-year reappraisal cycle, this scenario is not possible. Public Service Companies' Valuations are appraised by NCDOR. The Tax Office has no input in  Companies' Valuation of $895,396,690 Tax Revenue generated = $6,196,219  Duke Energy' Valuation for Stokes County = $830,287,610  Why Does This Matter In Regards To Conducting A 4-Year Vs. 8-Year Reappraisal?  then equalization occurs for Public Service Companies.  four-year reappraisals. the valuations.  Sales Ratio: Is defined as: The ratio between the Assessed Value and the Selling Price of a piece of property.  The Sales Ratio tells you the Level of Assessment.    Assessed Value Sales Price  Sales Ratio  Improved (Home and Buildings) Sales  Stokes County Overall Tax Value $193,800 Stokes County Overall Tax-Value $45,000  Tax Year: 2021 MedianSales Tax' Year 20221 MedianSales Tex Year 20231 Median Sales  Ratlo 87.56 Sale! Price $221,400 Ratlo 94.57 Salel Price $47,600  Retio 75.91 Salel Price $255,300 Ratlo 81.70 Sale! Prico $55,100  Ratio 64,60 Sale Price $300,000 Ratlo 70.18 Sale Price $64,100  Exemple of Tax Value Vs. Salel Price (Howitrelates tot the Sales Retio)  Vacant (Land Only) Sales  Tax Yoer 2021 MedianSales Tax Year: 2022 Medlans Sales Tax' Year 2023 Medlan Sales  Example ofTax Value Vs, Sale! Price (Howi itrelates tot the Sales Ratlo)  The above charti illustrates the continued rise of Real Estate Prices in Stokes County. Also, ing general, improved propertyvaluationsi willi increase moret than vacant property. Based ont the sales data, giving the most weight tot the mostrecent: sales, andi if the market does nott take a downward dip next year, Real Estate  Values in Stokes Countywilli increase significantly, effective. January1,2025.  Key Factors Driving the Current Real Estate Market market in an upward trajectory. strong Real Estate Market in Stokes County.  Supply: The current amount of available properties in Stokes County remains low; thus, fueling the Demand: Remains high and, coupled with a limited supply, creates the perfect recipef forac continued Region: North Carolina ranks third in Real Estate Growth in the United States. Also, Stokes County's proximity to major cities such as Winston-Salem, Kernersville and Greensboro, makes our County a very desirable place to live. The Winston-Salem Northern Beltway, project will help with commute times; thus, making the King, Pinnacle and Germanton areas of Stokes County even more desirable Have a game plan: To have a successful reappraisal, it is very important to have a detailed work plan that involves not only the Revaluation Staff but also the GIS/Mapping Department. Communiçate with the public; inform, update and educate Show the taxpayers the Tax Office is fair, approachable and efficient  to potential future residents. Keys to a Successful Reappraisal Public Relations:  Customer Service is something we pride ourselves on. We listen to the taxpayer. We don't always agree, but we listen. We review. We explain our position in detail. If we are wrong, we fix it. Our staff are courteous professionals that are willing to explain and help the taxpayer Review of all qualified arm's length sales that occur during the study period (lanuary 1, 2021- December 31, 2024). We are on pace to have approximately 3,000 qualified arm's length sales to assist us in revaluing the entire County (Stokes County has approximately 31,500 parcels of land). ) Arm's Length Sales - A sale between two unrelated parties, each of whom is reasonably knowledgeable of market conditions and under no undue pressure to buy or sell. Once the Tax Office has reviewed in detail each qualified arm's length sale, we provide our GIS/Mapping Department with the sales data. That data is imported into the GIS software and  anyway they can.  Steps Taken To ConductASolid Reappraisal    is added as a sales layer. This layer is very instrumental in providing a visual aide to the appraisers. They are able to see locational trends, property class trends, etc. Also, it is a great  tool to use while answering taxpayer questions.  Counelt Mountain! umber of Sales 2021 to: 2023 Sale Sale Price Price Maximum: $56-4.000  6/20   -  Voar of Sale 2021 2022 2023  Tax  Steps taken continued...  Market Area Analysis: The study of the relevant forces, which influence property values within the Establishment/Review, of Market Areas (also referred to as Neighborhoods) The Tax Office currently  boundaries of a homogenous area. Market Areas can be established by: Property Type; example, Cell Towers  has the County divided into approximately 415 Market Areas.  Specific Subdivisions; such as, Pilot Bluff in King (Residential Housing) Geographic Location and Boundaries; Mountains, Rivers/Streams, Townships, etc. Market Areas are used to blend property values across the County. This creates transition between different areas of the County. An example of this: Our anticipated 2025 Reappraisal base rates will start at approximately $10,000 per acre in the northeast corner of the County and transition to over $40,000 per acre in the southwestern portion of the County, with some lots in specific Market Areas (Subdivisions) selling much higher. The use of market areas makes the transition of value across the  County flow better and helps create a good estimate of what property is worth.  Data Collection and Field Reviews  At tremendous amount of time is spent on data collection. The following information is collected: Square Footage (Sketched Drawing) Exterior Siding (Brick, Vinyl, Stone, etc.)    Roof Type (Gable, Hip, etc.) and Cover (Asphalt Shingles, Metal, etc.) Floor Coverings (Hardwood, Ceramic Tile, Vinyl, Carpet, etc.)  Bedroom and Bathroom Count HVAC (Heat Pump, Gas Pack, etc.) Overall Condition Quality of Construction  Attributes; such as: Porches, Decks, Sunrooms, Garages, Carports, Basements, etc.) Outbuilding and Misc. Improvements (Storage Buildings, Swimming Pools, etc.)  Reappraisal Process for Land  Land review is conducted by a desk top method of reappraisal.  Reasons the Tax Office uses this approach:  Byu using our highly detailed County Maps, we are confident in our ability to fairly and accurately value land.  It's more Time Efficient (Walking over 400 square miles is impossible with the size of our staff). We are able to compare surrounding properties while viewing maps to ensure consistent adjustments based upon specific features of the property such as topography, access, road Nothing is foolproof. There is no substitute for an actual physical inspection oft the property. Based upon taxpayer's request, the Tax Office will be more than happy to visit the properly  frontage, shape, etc.  and walk the land during the appeal process.  SOV (Schedule of Values)  The Schedule of Values is an essential required document that serves as the blueprint for appraisers "Uniform schedules of values, standards, and rules to be used in appraising, real property at its true value and at its Present-Use Value are prepared and are sufficiently detailed to enable those  tor render opinions of value throughout the four-year reappraisal cycle.  NCGS 105-317 requires that:  making appraisals to adhere to them in appraising real property."  SOV Continued...  Information found within the SOV: USPAP Mass Appraisal Guidelines  Applicable Reappraisal Statutes; NCGS; 105-283,284,285,286,287 and 317  Three Approaches to Value; Cost, Income and Sales  Cost Schedules Depreciation Tables Market Area Information Various Building Data Elements, etc.) All property class types  Adjustment Tables; (Size Factors - Building and Land, Neighborhood Market Building Factors,  Timeline for Stokes County 2025 Reappraisal  January 2021 - December 2024; Review of all qualified arm's length sales February 2023 - Begin Field Reviews of Improved Qualified Sales  March 2023 - August 2024; Daily work will continue including field reviews, map reviews, data  entry, sales analysis and SOV refinements  August 2024 -SOV/Schedule of Values) approval and adoption process begins September 2024- - SOV adopted by Board of County Commissioners October 2024 - Majority of field reviews should be completed  November 2024 = January 2025; Final preparations, data edit checks, finish up remaining field February 2025- May 2025; Answer Taxpayer questions and review Property Tax Appeals Once the notices are mailed in February 2025, the Tax Office will begin working informal appeals. We do request the taxpayer complete a short appeal form (provided by the Tax Office). Our  reviews  February 2025 - Mail Reappraisal Notices  Appeal Process    appraisers will review each appeal. The taxpayer has the right to request an onsite visit. The Tax Office will schedule at time to meet with the taxpayer if needed or requested. The Tax Office will mail a decision letter, usually within two weeks after reviewing the appeal. Ifthe taxpayer is not satisfied with the Tax Office's response, they have the right to appeal their property value to the Board of Equalization and Review. The Board of E&R begins meeting in early April and usually meets into May. The Stokes County Commissioners serve as the Board of E&R. Ift the taxpayer is not satisfied with the decision of the Board of E&R; then, they have the right to appeal to the PTC (Property Tax Commission) in Raleigh.  Goal and Contact Information  The Tax Office is an accessible and approachable department that is ready to serve the Citizens of Stokes County. Customer service is one of our main objectives along with being fair and equitable. Please don't  hesitate to contact the Tax Office. We are always ready to assist.  Contact Information: Richard Brim, Tax Administrator primgcosiokes.nc.us  AMENDMENT OF SPECIAL EVENT STREET CLOSURES - Ordinance No. 2024-02.03  Per NCI DOT requirements, municipalities are to adopt street closure guidelines for special events. On August 5, 2024, the City Council voted to move the King Christmas Parade time to 1 pm on Saturday, December 7, KING CHRISTMAS PARADE: Saturday, December 7, 2024, 12:30 a.m. - 3:00 p.m., Route Description: East School Street, East Dalton Road from East School Street to Main Street, and Main Street from Dalton Road The time change for the parade was discussed at the August 5, 2024, City Council meeting and voted on  2024. Ordinance 2024-02 will need to be updated.  to. Jefferson Church Road.  by the Council. Now, the Ordinance needs to be updated.  Motion  Councilwoman Fowler motioned to approve Ordinance No. 2024 -02.03 as presented to move the King Christmas Parade time to 1 pm on Saturday, December 7, 2024. Councilman Lane seconded the motion, The Police Department is in need of a vehicle to replace a total loss. Insurance proceeds are $19,725, and the PDI has $7,660 in revenue from the sale of surplus property. This totals $26,935; the total cost of a new  which was carried by a unanimous vote of 4-0. **SEE DOCUMENT #3** CONSIDERATION OF PD VEHICLE REPLACEMENT OPTIONS  vehicle and equipment is $70,915, leaving a shortfall of approximately $44,000.    We have the following options:  PD Budget  Pmt  FB  Contingency Savings ARP 3,913 5,673  Finance as addendum to current loan Finance as addendum to current loan Finance as addendum to current loan  for PD vehicles for PD vehicles for PD vehicles AlI Fund Balance  3,913  5,673 5,673  3,913  44,000 26,477 20,804 38,327  Contingency and Fund Balance Contingency, Fund Balance, and Payment Savings Payment Savingsa and Fund Balance ARP and Payment Savings Use amounts from insurance and surplus sales $26,935 to buy used  17,523 17,523 5,673  5,673 5,873 38,127  vehicle  Contingency, Payment Savings, and ARP  17,523 5,873 20,604  With the exceptions of using 100% ARP or purchasing a vehicle with the money available from insurance and surplus sales, any option chosen will require al budget amendment at the October 2024 meeting. Councilwoman Fowler motioned to approve Resolution No. 2024 -13, amending Resolution 2024-12, approving financing terms for three police vehicles and equipment as an addendum to the current loan for PD vehicles with a contingency for the $3913. Councilman Lane seconded the motion, which was carried by This section is requested to be updated to include additional positions for which relatives' employment could create significant issués. The language needs to be updated to specifically name additional examples of Discussion was continued on this topic. The council wants to be assured that the policy will not hold back an employee in the future with any potential promotions. The council would like staff to work with our City Mayor Pro Tem Cole motioned to table revisions to the Personnel Policy. Article IV, Section 14. Councilman  Motion  a unanimous vote of 4-0. **SEE DOCUMENT #4** CONSIDERATION OF REVISION TO PERSONNEL POLICY relatives and recognize various lifestyle choices.  Attorney more on this policy and then bring it back to the board.  Motion  Lane seconded the motion, which was carried by a unanimous vote of 4-0.  DEPARTMENTAL REPORTS  Mayor Pro Tem Cole moved to acknowledge that the departmental reports had been received. Councilman  Lane seconded the motion, which was carried unanimously by a vote of 4-0.    ITEMS OF GENERAL CONCERN  None  CLOSED SESSION FOR THE PURPOSE OF DISCUSSION OF PERSONNEL PER N.C. GENERAL STATUTE 143- 318.11 (A)(6)ANDI FORTHEJ PURPOSE OF DISCUSSION OFTO CONSULT WITHAN ATTORNEY TO PROTECT Mayor Pro Tem Cole moved to adjourn to a closed session at 7:15 pm for the purpose of discussion of personnel [N.C.G.S. 143-318.11 (A)] (6) and for the purpose of discussion to consult with an attomey to protect the attorney-client privilege (G.S. 143-318.11(0/3). Councilman Lane seconded the motion, carried Mayor McCraw reconvened the meeting at 9:37 pm, stating no action was taken in the closed session. Councilwoman Fowler motioned to adjourn the meeting at 9:37 pm. Mayor Pro Tem Cole seconded the  THE ATTORNEY-CLENT PRIVILEGE (GS. 143-318.11(/3)  by a unanimous vote of 4-0.  ADIOURNMENT  motion, which was carried by a unanimous vote of 4-0. ***Clerks Note: See Documents 1-4 for supporting documents. ***  Approved by:  Op UNCIL NORTH CAROLINA / OF  MEIhs Richard E. McCraw, Mayor  Attest:  eebransko Nicole Branshaw, City Clerk    soAmDCityCoundl aSeptnibe 3,2024  L DOÇUMENT# U  1 PAGES: 1  & s 1M6E6 = -    BoAROCdy Cooncil DATE:September 3,2024 DOCUMENT# 2 PAGES:d  83 City of King  Notice of Public Hearings  NOTICE IS HEREBY GIVEN that a series of public hearings will be held by the City Council of King at City Hall, at 229 South Main St, King, NC, on the 3rd day of September 2024, Amendment oft the official zoning map and/or ordinance of King, N.C., and/or the granting of a special use permit by the City Council or Board of adjustment referenced in Code of Ordinance listed below and per Chapter 32-Zoning, Sec. 32-71, 96 & 127 in the following Item 1: Zoning request R-183 by Donnaha Properties LLC of King to rezone approximately 37.78 acres with 5.25 acres from B-2 (General Business) to L-I (Light Industrial) and 32.53 acres from R-MF-A-CU (Residential Multifamily Apartments Conditional Use) to L-I (Light Industrial). The subject property is listed as SCTM 5991-08-3840, 5991-07-6139, and 5991-07-0247 and is found off the 600 block of Newsome Road on the South side for the  beginning at 6:00 p.m., for the purpose of considering the following:  manner:  purpose of commercial growth.  Ina accordance with the Code of Ordinances, Chapter 32-Zoning, Sec. 32-96, the City of King Planning Board/Board of Adjustment will review the foregoing amendment on August 26,  2024, at 6:00 p.m. at City Hall.  CITIZENS ARE HEREBY NOTIFIED that upon consideration of the comments at the herein-described public hearings, the City Council may amend the proposed ordinance Ac copy of the proposed amendments, maps, ordinance, and requests are on file at the City Hall for inspection by all interested citizens or you can call the Planning Department at  amendments prior to adoption.  336.983.8265, or email grace@c.king.ncus  Nicole Branshaw City Clerk City of King, NC    % 8888    soA.CatyCoonél DATESeptenber 3,2024 DOCUMENT# #: 3 PAGES: 1  CITY OFI KING ORDINANCE 2024-02.03 BY THE KING CITY COUNCIL  AN ORDINANCE DECLARING AI ROAD CLOSURE FOR SPECIAL EVENTS CO-SPONSORED  WHEREAS, the City Council of the City of King acknowledges a long tradition of co-sponsoring events that raise money to benefit charities and non-profit organizations throughout the City of King and Stokes County; and WHEREAS, the City Council of the City of King acknowledges its citizens realize a financial benefit from holding NOW THEREFORE BE IT ORDAINED by the City Council of the City of King pursuant to the authority granted by G.5.20-169 that they do hereby declare at temporary road closure during the day(s) and times set forth below on (1) FEED STOKES 5-K & HALF MARATHON: Saturday, March 9, 2024, 7:00 a.m. = 10:00 a.m. (Rain date Saturday, TBD, 7:00 a.m. - 10:00 a.m.) Route description: Felts Drive, Pulliam Street, Dalton Road, East (2) MEET ME ON MAIN & 5K/FUN RUN: Saturday, April 27, 2024, 3:00 p.m. - 10:00 p.m. (Rain date Saturday, May 4,2024,3:00 p.m.-10:00 p.m.); Route Description: Dalton Road from Pulliam Street to Maple Street, (3) VETERAN'S WALK: Thursday, July 4, 2024, 8:00 a.m. - 9:00 a.m.: Route Description: South Main Street (4) WEST STOKES HIGH SCHOOL HOMECOMING PARADE: Friday, October 4, 2024, 4:00 p.m. - 5:00 p.m.; (5) OKTOBERFEST: Saturday, September 21, 2024; 2 p.m. - 9 p.m.; Route Description: Dalton Road from Pulliam Street to Maple Street, South Main Street from Felts Drive to King Street (Old Hwy! 52) (6) DOWNTOWN SAFE TRICK OR TREATING: Thursday, October 31, 2024, 5:30 p.m. - 8:00 p.m., Route Description: Dalton Road from Pulliam Street to Maple Street, South Main Street from Felts Drive to King (7) KING CHRISTMAS PARADE: Saturday, December 7, 2024, 12:30 a.m. - 3:00 p.m., Route Description: East School Street, East Dalton Road from East School Street to Main! Street, and Main Street from Dalton Road This ordinance is to become effective when signs are erected, giving notice of the limits and times of the event  community events.  the following described portions of a State Highway System route:  King, Mountainview Road, Dalton Road, Maple Street, Westview Dr.  South Main Street from Felts Drive to King Street from City Hall to American Legion Post #290  Route Description: Dalton Road from West School Street to White Road  Street  to. Jefferson Church Road.  andi implementation of adequate traffic control to guide vehicles around the event route.  Amended on the 3rd day of September 2024.  Kdlemebas  ACIL Os NORTH CAROLINA SY KIE OF  Richard E. McCraw Mayor  -NaBerlas  Nicole Branshaw City Clerk    soo_CityCooncil pamSeptaber3,oA DOCUMENTH4 PAGES1  CITY OF KING RESOLUTION 2024-13 Amendment to Resolution 2024-12  AI Resolution Approving Financing Terms for Three Police Vehicles and Equipment WHEREAS, the City ofk King "City" has previously determined to undertake ap project for Three Police Vehicles and Equipment, "the Project" and the Finance Officer has now presented a proposal fort thet financing of such Project.  BEITT THEREFORE RESOLVED AS FOLLOWS:  1. The City hereby determines tot finance the Project through First National Bank ("Lender"), in accordance with the proposal dated. July 26, 2024. The amount financed shall not exceed $476,500, the annual interest rate (int the absence of default or change in tax status) shall not exceed 4.40%, and thei financing term shall not exceed five years 2. Alli financing contracts and allr related documents for the closing of thet financing "the Financing Documents" shall be consistent with thet foregoing terms. All officers and employees of the City ("Borrower") arel hereby authorized and directed to execute and deliver any Financing Documents, and tot take all such further action as they may consider necessary or desirable, to carry outt thet financing of the Project as contemplated by the proposal and this resolution. 3. The Finance Officer is hereby authorized and directed to hold executed copies of the Financing Documents until the conditions for the delivery of the Financing Documents have been completed to such officer's satisfaction. The Finance Officer is authorized to approve changes to any Financing Documents previously signed by Borrower officers ore employees, provided that such changes shall nots substantially alter thei intent ofs such documents or certificates from the intente expressed in thet forms executed by such officers. The Financing Documents shall be in such final forms as the Finance Officer shall approve, with the Finance Officer's release of any Financing Document for delivery constituting conclusive evidence ofs such officer's final approval of the Document's final form. 4. The Borrower shall not take or omit to take any action thet taking or omission of which shall cause its interest payments on this financing tol be includable ini the gross income for federal income tax purposes of the registered owners oft thei interest payment obligations. The Borrower hereby designates its obligations to make principal and interest payments under the Financing Documents as "qualified tax-exempt obligations" for the purpose ofl Internal 5. The Borrower intends that the adoption of this resolution willl be a declaration oft the Borrower's official intent to reimburse expenditures for the project that is to be financed from the proceeds of thel Lender financing described above. The Borrower intends that funds that have been advanced, or that may be advanced, from the Borrower's general fund, or any other Borrower fund related to the project, for project costs may ber reimbursed from the 6. All prior actions of Borrower officers in furtherance of the purposes of this resolution are hereby ratified, approved and confirmed. All other resolutions (or parts thereof) in conflict with this resolution are hereby repealed, toi the  (5)years from closing.  Revenue Code Section 265(b)(3).  financing proceeds.  extent of the conflict. This resolution shall take effect immediately. INI WITNESS WHEREOF, this resolution was adopted this the 3rd day September 2024.  (SEAL) ATTEST:  CITYOFKING  Nicole Branshaw, City Clerk  Richard E. McCraw, Mayor  92