1969 - 02-17-69 Adj. Reg. Meeting

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BOOK 7 PACE325 Mr. W. A. Martin, President of Central Carolina Technical Institute appeared before the Board and requested approval of the budgeting of the 1967- 1968 budget balances Nin accordance with recommendation of the Board of Trustees of the Central Carolina Technical Institute. Commissioner White moved that the budgeting of the 1967-1968 balances of the Central Carolina Technical Institute as approved by the Board of Trustees of said Institution and set out in the letter dated February 5, 1969 to the Chairman of this Board, a copy of which is to be filed with the minutes of this meeting, be approved. Commissioner Joyce seconded the motion, and upon a vote, it was unanimously adopted. After discussion, it was resolved to provide parking spaces for the county employees on the lower level of the newly acquired parking building and to provide public parking on the Steele Street level and to authorize the rental of surplus spaces at the rate of $5.00 per month. Commissioner White presented the following resolution and moved that it be adopted: WHEREAS, the $35, 000 School Bond Anticipation Note dated September 6, 1968, payable March 6, 1969, issued in anticipation of the issuance of bonds authorized by the bond order hereinafter described will become due on March 6, 1969, and the Board of Commissioners desires to provi de for the renewal of said note as hereinafter set forth; NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of the County of Lee as follows: (1) Said outstanding note shall be renewed by the issuance of a $35, 000 School Bond Anticipation Note pursuant to The County Finance Act of North Carolina, as amended, for the purpose for which bonds are authorized to be issued by the bond order entitled "Bond Order authorizing the issuance of $35, 000 School Bonds of the County of Lee", adopted by the Board of Commissioners of the County on December 4, 1967, in anticipation of the receipt of the proceeds of the sale of the bonds authorized to be issued by said bond order. (2) A negotiable note of the County of the aggregate principal amount of $35, 000 shall be issued for all moneys borrowed pursuant to this resolution. Said note shall be designated "School Bond Anticipation Note", and shall be dated March 6, 1969, and shall be payable September 5, 1969, and shall bear interest at the rate of four and three-quarters per centum (4 3/470) per annum. Such interest shall be payable at the maturity of the note. (3) The Chairman and Clerk of the Board of Commissioners are hereby authorized and directed to cause said note to be prepared and to execute said note. (4) The Chairman and Clerk of the Board of Commissioners are authorized to make application to the Local Government Commission of North Carolina for its approval of said note in the manner pre,,r-ribed by the Local Govern- ment Act, and the Local Government Commission is hereby requested to deliver said note through the State Treasurer in exchange for said outstanding note upon payment of the interest payable with respect to said outstanding note to the holder of said outstanding note. The motion having been duly seconded, and the resolution having been considered, it was adopted, Messrs. Joyce, White, F. Wicker, G. Wicker and Dotterer voting for the resolution and no one voting against it. -2 -