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1966 - 09-06-66 Regular Meeting
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1966 - 09-06-66 Regular Meeting
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Board of Commissioners
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administrative units for the nine months' school terra as <br /> prescribed by law, and that it will be necessary to expend <br /> for such purposes not less than $4, 500,000, in Addition to <br /> other moneys which have been mad available therefor. <br /> Section 2. in order to raise the money required to <br /> finance the cost of erecting sad new school buildings and of <br /> reconstructing and of enlarging, by the erection of additions, <br /> said existing buildings, and of acquiring land and furnishings <br /> and equipment necessary for such new and reconstructed and <br /> enlarged buildings, bonds of the County of Lee are hereby <br /> authorized and shall be issued, pursuant to The County Finance <br /> Act of North Carolina. The maximum aggregate principal <br /> amount of said bonds authorized by this Eland Order shall be <br /> Four Million Five Hundred Thousand Dollars ($4, 500,000). <br /> Section 3. $2, 279. 703.00 of the moneys raised by <br /> the issuance of said bonds shall to used to ftnas_nee the cost of <br /> erecting such new buildings or reconstructing or enlarging, by <br /> the erection of Additions, such existing buildings located in the <br /> Lee County School Administrative Unit or of acquiring land or <br /> furnishings or equipment necessary for such new or reconstructed <br /> or enlarged buildings, and $2, 220, 300.00 of the moneys raised by <br /> the issuance of said bonds shall ,e used to filiation the cost of <br /> erecting such new buildings or reconstructing or enlarging, by <br /> the erection of additions, such existing building located in the <br /> Sanford City School Administrative Unit or of acquiring land or <br /> furnishings or equipment necessary for such new or reconstructed <br /> or enlarged buildings. <br /> Section 4. A tax sufficient to pay the principal of and <br /> interest on said bonds when due shall be annually levied and <br /> collected. <br /> Section 5. A atatement of the County debt of the County <br /> of Lee has been filed with the Clerk of the Board of Commissioners <br /> of said County and is open to public inspection. <br /> Section ba. This Bond Order shall take effect when approved <br /> by the voters of the County at an election as provided in said act. <br /> Commissioner McLeod moved that the following resolution <br /> re adopted: <br /> W HERE AS, the Bond order entitled "Bond Order authorizing <br /> the issuance of $4, 500, 000 School Sands of the County of Lee, has been <br /> introduced at the meeting of the Board of Commissioners held on September 6. 1966, <br /> and the f3oard of Commissioners desires to provide for the <br /> holding of a public nearing thereon as required by the County <br /> Fiance Act; <br /> NOW THE1:S_F(M H', <br /> BE IT RESOLVED by the Board of Connniatdcners of the <br /> County of Lee, as follows: <br /> (1) The public hearing upon said Bond Order shall he held <br /> on the 3rd day of Oct , 1966, at 10h00 &cicok, A. M. , at the <br /> regular meeting room of the Board of Commissioners at the Court- <br /> house in Sanford, North Carolina . <br />
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