1968 - 06-03-68 Regular Meeting - Laserfiche WebLink

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dddK I' pbGd~~~ 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 it is necessary to erect in the Lee County School Adminis- trative Unit and in the Sanford City School Administrative' Unit, several new buildings to be used as school houses, school garages, physical education and vocational education buildings, teacherages and lunchrooms and other school plant facilities, and to reconstruct and enlarge, by the erection of additions, several existing buildings located in such unit and used for such purposes, and to acquire land, furnish- ings and equipment necessary for such new or reconstructed or enlarged buildings in order to enable the County of Lee, as an administrative agency of the public school system of the State of North Carolina to maintain public schools in said school administrative unit for the nine months' school term pres- cribed by law, and that it will be necessary to expend for such purposes not less than $5, 000, OOO,in_ addition to other moneys which have been made available therefor, $2, 000, 000 of such moneys to be expended for such purposes in the Lee County Sanford City School Administrative Unit and $3, 000, 000 of such moneys to be expended for such purposes in the Sanford City School Administrative Unit. Section 2. In order to raise the money required to finance the cost of erecting said new school buildings and of reconstructing and of enlarging, by the erection or additions, said existing buildings, and of acquiring land and furnishings and equipment necessary for such new and reconstructed and enlarged buildings, 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 Million Dollars ($5, 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. n~ 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 White moved that the following resolution be adopted: WHEREAS, the Bond order entitled "Bond Order authorizing the issuance of $5, 000, 000 School Bonds of the County of Lee has been introduced at the meeting of the Board of Commissioners held on June 3, 1968, and the Board of Commissioners desires to provide for the holding of a public hearing thereon as required by The County Finance Act; NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the County of Lee, as follows: -2-