1960 - 01-04-60 Regular Meeting - Laserfiche WebLink

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• C O . MINUTES OF -REGULAR,.MEETING • • OF - • BOARD OF COUNTY COMMISSIONERS January 4, 1960 • The Board of Commissioners -of Lee County met in regular monthly • session in the Commissioners' Room at the Courthouse on Monday, January 4, 1960, at 10:00 A. M. , with the following members of the Board present for•the dispatch of business: Commissioners Sion H. Kelly, Clyde H. Atkins, Ralph Groce, Evander Winstead and Percy Measamer • Commissioner Sion H. Kelly, Chairman of the Board, presided and the 'following business was transacted: • The minutes of the regular meeting'of December 7, 1959, and the minutes of the special meeting of December 17, 1959, were read and approved. - - • • Commissioner Winstead moved that the following resolution be , adopted: • WHEREAS, the bond order hereinafter described has been duly adopted and the Board of 'Commissioners desires to make further provision for the issuance of the bonds to be issued pursuant •td said bond order;' NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the County of Lee as follows: • (1) The County of Lee (hereinafter referred to as "County") shall issue its bonds of the aggregate principal amount of $51, 000 pursuant to and in accordance with the bond order entitled "Bond Order authorizing the issuance of $51, 000 School Bonds of the County of Lee", adopted by the Board of Commissioners of the County on November 2, 1959. Said bonds shall be designated "School Bonds. " Acting pursuant to Section.153-80 of The County Finance Act, the Board of Commissioners has ascertained and hereby determines that the new building described in said bond order is to be of either fireproof construction' or non-fireproof construction as • defined in said Section .153-80 and that the'life of the,improvement described in said bond order is twenty years computed from February 1, 1960. • ' (2) Said'School-Bond's shall consist of fifty-one. bonds of the denomination of $1, 000 each,. numbered from 1 to 51, inclusive, in the order of their-maturity, and"shall be payable in annual installments on February 1 in each year as follows," viz. : $6, 000 in 1961 and $5, 000 in each of the years 1962 to 19,70,, inclusive. ' • (3) 'Said bonds shall be dated February 1, 1960. Each bond shall bedr interest from its date 'at a rate which shall be hereafter determined and which shall not exceed six per centum (6%) per annum. Such interest shall be payable semi-annually on February 1 and August 1. (4) Said bonds shall be coupon bonds, registerable as to principal • only, and shall be signed by-the Chairman and Clerk of the Board of • Commissioners of the County. The corporate seal of the County shall be affixed to each'of the bonds. Each of the interest coupons to be attached to the bonds shall be authenticated by the facsimile signature