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BOOK 8 . PAur 39
<br />Commissioner. J. Eugene Rogers moved that the
<br />budget: be: amended to. establish a manpower "grant, fund and to.
<br />reflect increases: in revenue in the amount .of $6,-00.0..:00.'.
<br />and an increase in expenditures. in the amount-of`$6,Oo0.'.00.
<br />to.pay.-the salaries: of a Clerk:Il in the Finance Office and
<br />a Typist I in the Social Services Department. during the
<br />period, from September 1,:1.9,74,. to March 31, 1,975.
<br />Commissioner: Hal L. Hancock presented the.following
<br />resolution and moved that it be adopted:
<br />WHEREAS, the bond order.herein,after. described
<br />has taken effect and it.is. desirable to: make.provision
<br />for the issuance of the bonds authorized by.said bond
<br />order,
<br />NOW, THEREFORE, BE IT RESOLVED by: the Board
<br />of Commissioners :of the County. of Lee' as, follows.:
<br />1.' The. County. of Lee. (Hereinafter referred
<br />to as "County.") shall issue its.bonds of the aggregate.
<br />principal 'amount of'$600.;ooo pursuant..ta and in.
<br />accordance with the bond order entitled "Bond Order.
<br />authorizing the-issuance of $600:,000.Te.chnica1 Institute.
<br />Bonds of Lee. County.," adopted by-the Board of.Com-
<br />missioners :of the County. on February: 5, 19.73• Each of
<br />said bonds shall be. designated."Technical Institute.
<br />Bond".. The period of usefulness of the capital project .
<br />to.bei,financed by. the issuance of.the.bonds is.a period
<br />of, forty years,. computed, from June 1,19,7,4-
<br />2. The bonds shall be of the, denomination of
<br />$5, 00.0.'each,.shall be numbered from 1 upwards in.the order.
<br />of their maturity, and shall be. payable in. annual .
<br />installments on June 1 in each year as. follows.,: viz..:
<br />$10;.00.0. in each of the years
<br />$15,000-in each of the years
<br />$20.;00.0.'.in each of the years
<br />$40,'.000.:in.each of the years
<br />$25.,00.0.'in.the year 1996..
<br />1.976 to: 1,978, inclusive
<br />1.979 to 1981, inclusive
<br />1982,to:1984,. inclusive
<br />1985 to 1995, inclusive,.and
<br />3.. The bonds shall be. dated June 1, 1974,: and
<br />shall bear interest from their. date at a-rate. which
<br />shall be hereafter determined upon the public.sale
<br />thereof and such interest shall be payable semi-annually
<br />on June land December 1.
<br />4.' The bonds shall be coupon bonds,
<br />registrable as to principal only, and shall bear the .
<br />facsimile signature of the Chairman and the Clerk of
<br />the Board of Commissioners. A.facsimile ;of.the corporate
<br />seal of the County.shall be.imprinted upon each of'the.
<br />bonds. Each of the interes:t..coupons to be::attached to.
<br />the bonds shall be. authenticated by the, facsimile
<br />signature of said Clerk..
<br />5. Both principal of and interest on the
<br />bonds shall be payable.at the principal office of
<br />First-Citizens Bank & Trust :Company, in. the City. of
<br />Raleigh, North' Carolina, or at the option of the holder
<br />or registered owner., at the principal :office of
<br />Manufacturers. Hanover Trust Company, in the. Borough of
<br />-2-
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