1971 - 03-01-71 Regular Meeting - Laserfiche WebLink

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BOOK 7 eacE 513 Section 2. In order to raise the money required to finance the construction of sewage facilities for said County and its inhabitants by the construction of sewage collection lines, including the acquisition and install- ation of the equipment, machinery and apparatus required therefore, and the acquisition of the necessary land or rights-in-land, bonds of the County of Lee, are hereby authorized and shall be issued pursuant to the County Finance Act of North Carolina. The maximum aggregate principal amount of said bonds authorized by this bond order shall be FIVE HUNDRED THOUSAND DOLLARS ($500, 000.). Section 3. A tax sufficient to pay the principal of and interest on said bonds when due shall be annually levied and collected. Section 4. 'A statement of the County debt of the County of Lee has been filed with the Clerk of the Board of Commissioners of said County and is open to public inspection. Section 5. This bond order shall take effect when approved by the voters of the county at an election as provided in said Act. " Commissioner William H. Cooper introducing the following bond order which was read at length: "BOND ORDER AUTHORIZING THE ISSUANCE OF $1, 000, 000 WATER BONDS OF THE COUNTY OF LEE. " WHEREAS, the Board of Commissioners of the County of Lee deems it advisable to make the improvements hereinafter described; NOW, THEREFORE, BE IT ORDERED by the Board of Commissioners of the County of Lee as follows: Section 1. The Board of Commissioners of the County of Lee has ascertained and hereby determines that, in order to provide an adequate water supply system for said County and its inhabitants, it will be necessary to con- struct the facilities hereinafter described and that it will be necessary to expend for such purpose not less than $1, 000,-000, in addition to any funds which may be made available for such purpose from any other source. Section 2:, In order to raise the money required to finance the con- struction of a water supply system for said County and its inhabitants by the construction of water distribution lines, including the acquisition and install- ation of the equipment, machinery and apparatus required therefore, and the acquisition of the necessary land or rights-in-land, bonds of the County of Lee, are hereby authorized and shall be issued pursuant to the County Finance Act of North Carolina. The maximum aggregate principal amount of said bonds author- ized by this bond order shall be ONE MILLION DOLLARS ($1, 000, 000). Section 3. A tax sufficient to pay the principal of and interest on said bonds when due shall be annually levied and collected. Section 4. A statement of the County debt of the County of Lee has been filed with the Clerk of the Board of Commissioners of said County and is open to public inspection. Section 5. This bond order shall take effect when approved by the voters of the County at an election as provided in said Act." 3.