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• 'WHEREAS, the Board of.Coimty:.Coninaleslanets is '," •
<br /> • °: 'of the opinion that the:ab©ve.described'road should-be added'
<br /> .to the Secondary Road System, -if the road meets Minimum. . ; , : - •
<br /> • - •standards and criteria established by the State Highway:C;orn- .-
<br /> ",?Inission for;the addition of roads to the'System. • ' ;.
<br /> • _: '• -•1t0Pa': THEREFORE, belt resolved by the Board of •
<br /> - ' County Cornmissioners of the County'of Lee that the 'State. ,
<br /> ' '::Highway Commission is hereby-requested to.review the above
<br /> described:read, 'and to take over the road for;maintenance:If ':"
<br /> .t ;_it meets established standards,and,criteria. .. '
<br /> . • Commissioner D©tterer seconded the matted and upon a vote it was.:`
<br /> unsnlmously adopted.
<br /> a Commiiissiondr Coy moved that the'foileviing reselution'be,adopteds
<br /> •
<br /> '• WHEREAS/the bond-order hereinafter described has taken , . .
<br /> " ::,' "effect effect and$631;000 of the Wade'authorized by said bond order ihave ,
<br /> riot been issued and.the Board,of Conunissioners desires to•make •'
<br /> further provision for the issuance.of the remaintng;$631,000 of the • •
<br /> . bonds to be issued-pur`,suent.to said bend order; NOW, -THEREFORE*,
<br /> ' ' SETT RESOLVED by-the:Board of Commmissioners-of the • •
<br /> ' • • .county. of Lee as follows:
<br /> (1) `The-County of Lee (hereinafter:'refe3rted to as'„County"), ;
<br /> shall issue its bonds at this time of the aggregate principal amount- , :.
<br /> of.$631,000 pursuant to and in accordance with the bond order
<br /> - • ' :entitled.,Mond`Order authorizing the issuance of•$913,000 School .-,
<br /> d
<br /> • .. Bonds'of the;County,of Lee", adopterd.by-the.Boar of Commissioners.
<br /> :of the County'eon September 6, 1960:`•. , • " ;'- ;r • .
<br /> : .•• (2) `Acting pursuant to Section 153-.80 of the County,Finance
<br /> :Act the Beard,of C.ommissioners'has ascertained and hereby deter-
<br /> : • mx ines-that;each Of the existing school.buildings'describedin•said
<br /> : :_. :; - • lid order-and-each.of the new'buildings and•additions•to be:financed•• ...
<br /> by tire,issuance of,the bonds is of either fireproof constriction or :`•
<br /> non-fireproo f'construction as defined in said-Sedition-103-80,: and:
<br /> :,•'. that the life of each of the improvements•described•in'said,boad ' ,.
<br /> :'order le thirty years; computed,1rotn 11ay 1.: 19b1. • ;, •
<br /> :•: • (3) The bands:S,hall be designated•"School Building Bonds,
<br /> • ,•Series B" and:shall:consist of six hundredthirty one bonds'of the :
<br /> denomination'of $1,000`each, nui ibered fromi to 631, •:inclusive, : '
<br /> - :in the order of their maturity; and shall'be payable In annual,in-..
<br /> • . • stallments on May 1, in each'year as follows,. vies:, S10,000,in , .
<br /> the year 1964, .$25;000:in,each of-the years 1965 to..1970, • . : - • •
<br /> • inclusive,'$30,000 in each of the years 1971 to 1977, inclusive,;
<br /> .• };•'• ' : _,.$33',000 in each of.the years 197016 1984,''inclusive, and , + ` • `
<br /> $16,000 in the year 1985. ' ,.. :,. ; <
<br /> 44) . The .bonds shall be dated November 1, 1963,• :and shall •
<br /> bear interest from their date'at a rate.which shall be hereafter, determined
<br /> • and which shell net'exceed six per centum (6%M) per annual. Such.interest
<br /> ' shall be'payable semi-annually' on May and November''1: s ' .
<br /> • • - ,(5) The bonds-shall be coupon bends. .'registrable as to prin-• •
<br /> ;cipal only,•and shall be signed by-the Chairman and.Clerk of the '`
<br /> Board of Commissioners of the Oounty.': The corporate seat of the •
<br /> County shall be affixed to each of the bonds _ • •
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