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. J. Atkins, Edward:W: 'Cot, Dr. John E". Dotterer •and:J.''T.• Ledwe11.- None:
<br /> • ' of,the Confmissioners were absent.' h ' -•'' - - • '
<br /> � -
<br /> •. -- • ' Chairman Sion H. 'Kelly presided"and'thefollowingbusiness was - :-
<br /> ? transacted:- • -
<br /> : ' ' . Mr. Malcolm McLeod, •Superintendent of the'Sanfor'd Cit ;yBoard of -
<br /> Education,,.Dr.:,F:,•L: ,Knight and Mr:'j:' E. Davis of the Sanford.City Board :•:' .
<br /> Y' ~ :ofi.Education-appeared before the Board nd presented the'captial outlay ' '' '
<br /> • request of•the Sanford City.,Board ofEducation'for consideration." •
<br /> •:: - '. '• ' .. Mr: J.' J.:`L,entz, Superintendent' of the Lee'County-Board of Education
<br /> -.. and.Mr:tJ. Glenn Edwards, Chairman; ;Mr: Douglas:Wilkinson,,;Mr. Stacy . ._.
<br /> ' :,.Budd:and Mr._'W.t 'C.. 'Harward, ,Memberd••of the Lee eGounty,Board:of,Education,
<br /> appeared;.before the Board and presented'capital'outlay;requirements, the
<br /> ' Industrial'Education School budget;request'and the:current'expense budget •
<br /> , ' request,for consideration. .
<br /> 1•. .;.- ,;...L.,,,,,,,,‘„, . : gin ;". - .. -' :_ .. :: .. ' ''�- . , r .' ` . :•
<br /> ,, ',• .. .
<br /> ,,;; -• _ ' 'Cominissioner.Cox moved that;the following resolution be adopted:
<br /> is .s ; •
<br /> r" WHEREAS, '.the-bond order:hereinafter described'has. .. • •
<br /> ;'•';••,..beentfinally:_adopted'by''the Board-'of�Cgrriinissiones;' and` - '
<br /> s,
<br /> ' ' • " $631 000'of the bonds'autho_rized by'`said bond order'have not ' ' ••..
<br /> i.,-; :.been issued; ;and the Board of Commissioners'desires to borrow money,-
<br /> ., •
<br /> } , :: ;'for the for which'the bonds are authorized by said bond
<br /> . ..'z'order•as.her`einafter'provided;'and":' , -
<br /> d'.
<br /> - .,4;.'•;, La WHEREAS,. $21S;000 School`Building Bond Anticipation, ' ', ," :•.,..,. ;
<br /> Not6s of the County of tee, dated October-,18, .1962, payable,:: .' '
<br /> . - , • • , -June 18,' 1963;' issued in anticipation;of the issuance of the bonds r •'=' :
<br /> L. authorized by the bond'order. entitled :'Bond'Order-authorizink.
<br /> 1 = - •' ' ";••'..: •.`; the:i ssuance iof,$913,000 School Bonds;of the County, of Lee", • i - '
<br /> 1 ' ` - ' ' ',` - ad ted b the, Board of,Commissioners on_ , 1960,�' i '`-'
<br /> • oP . Y , September 6
<br /> will become`dueoh June 18,' 1963, and:,the'Board":of Commissioners
<br /> - • " • desires to provide for the renewal of said notee'as:hereinafter
<br /> t- - " . . '' 'Set.forth:;•NOW, THEREFORE, ' ''
<br /> • l-. • 1f` .�d*J ` ''by •tt,` '.,: r. ., '.. .c. -.I . .. • ,'. -• M1
<br /> BE it.RESOLVED/the'. Board of Commissioners'of'the
<br /> •'County'of Lee'as follows':' ' • _:' - -
<br /> ' (1) . Said outstanding notes shall he''renewed by die -
<br /> ' ` 4. T. issuance,'of $215,000`School'Building Bond Anticipation- ' -
<br /> - . . -i`Notes 'dated June 18, :1963;',payable;January 2, '-1904, con-' • .
<br /> 1 ' -,'::::1,:'. .. " sisting'of-one note of the denomination,of$15,000:. numbered,''•
<br /> ', .. : ' 1, 'and two notes of'the denomination-of.$100,000 each, num-,,
<br /> . '• ` 1 'bered 2'and 3."-The notes':will bear interest at'the'rate oft ' ' "',
<br /> -• -• >;<:• ' 1.;875%per'•annum.and such interest will be payable at the '
<br /> - maturity of the notes. i = j..• s• . .
<br /> - ' (2)' The•Chairman and'the'Clerk of,the Board of ..
<br /> ' - Coinrnissioners hereby areauthorizedand;directed to '
<br /> 4 . _ . ., Cause:said notes"to be,prepared and to execute said.notes.
<br /> ' - ' - (3)'The'Chairm rk an and Cleft of the Beard cif-;
<br /> • ' -. ' Comnussion-ere are'authorized to make'application'to' '' • '
<br /> — ' 'the.Local Government'Commission of North Carolina •
<br /> 1.• „ :i for.its•approval of said notes in'the.manner'prescribed" • • ', ,
<br /> :Local'Government :Act; ;and the Local Government • .
<br /> + -Page six
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