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BOOK 7 PAcE279 <br />(2) A negotiable note of the County of the aggregate <br />principal amount of $35, 000 shall be issued for all moneys <br />borrowed pursuant to this resolution. Said note shall be <br />designated "School Bond Anticipation Note", and shall be <br />dated September 6, 1968, and shall be payable March 6, <br />1969, and shall bear interest at the rate of three and <br />seventy-four hundredths per centum (3.747.) per annum. <br />Such interest shall be payable at the maturity of the note. <br />(3) The Chairman and Clerk of the Board of <br />Commissioners are hereby authorized and directed to cause <br />said note to be prepared and to execute said note. <br />(4) The Chairman and Clerk of the Board of <br />Commissioners are authorized to make application to the <br />Local Goverment Commission of North Carolina for its <br />approval of said note in the manner prescribed by the <br />Local Government Act, and the Local Government Comm- <br />ission is hereby requested to deliver said note through the <br />State Treasurer in exchange for said outstanding note upon <br />payment of the interest payable with respect to said outstand- <br />ing note to the holder of said outstanding note. <br />The motion having been duly seconded, and the resolution having been <br />considered, it was adopted, Messrs. Dotterer, McLeod, White, Wicker and Yow <br />voting for the resolution and no one voting against it. <br />There being no further business to come before the Session, it was <br />adjourned sine die. <br />rman John E. <br />