1960 - 08-22-60 Special Meeting - Laserfiche WebLink

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• • in said School Administrative Unit for the nine monthst school term • prescribed by law., and that it will be necessaryto expend for such purposes not less than $515, 000 in addition to other moneys which have • been made available therefor. $515, 000 raised by the issuance•of the bonds authorized by this bond order shall be used to finance the cost of providing said school facilities. • • Section 3. In order to raise the money required to finance the cost of erecting said new buildings and of, enlarging and reconstructing said existing buildings and of acquiring land and furnishings and equipment • for such new or enlarged or reconstructed 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 bonds authorized by this bond order shall be Nine Hundred Thirteen Thousand Dollars ($913, 000). Section 4. A tax sufficient to pay the principal of and interest on said bonds when due shall be annually levied and collected. Section 5. '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. Section 6; This bond order shall take effect when approved by the voters of the County of Lee at an election as provided in said Act. " Commissioner Measamer introduced the following bond order which , was read at length: • "BOND ORDER AUTHORIZING THE ISSUANCE OF $275, 000 INDUSTRIAL EDUCATION CENTER BONDS OF THE COUNTY OF LEE. WHEREAS, the Lee 'County Board-Of Education has determined it to be necessary to-provide the 'school,plant facilities.hereinafter described, 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 County, and has requested the Board of Commissioners' • to provide the sum'herein authorized-to be expended for, such additional School plant facilities; 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 and equip in said .County one or more new school buildings for use as an Industrial - Education Center for the promotion of vocational education in agricultural subjects and trade industrial subjects, and that it will be necessary to expend for such purpose not less than $275, 000 in addition to other, moneys • which have been made available therefor. ' • Section 2. In order to raise the money required to finance the cost of erecting and equipping said'new building or buildings, bonds of the • County of Lee are hereby authorized and shall be issued ursuant to the County Finance Act of North Carolina. The maximum aggregate principal : ' amount of said bonds authorized by this bond order shall be Two Hundred Seventy-five Thousand Dollars .($275, 000). • Section 3; A tax sufficient to pay the principal of and interest on said bonds when due shall be annually levied and collected.