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0 <br /> • <br /> BE IT RESOLVED by the Board of Commissioners of the County of Lee, <br /> as follows: • <br /> (1) The sum of•$67, 000 shall be borrowed in anticipation of the receipt <br /> of the proceeds of the sale of the'$67, 000 bonds authorized to be issued by the <br /> • bond order entitled "Bond Order authorizing the issuance of $67, 000 School <br /> Bonds of the County of Lee", adopted by the Board of Commissioners on the 5th <br /> day of May, 1958, for the pnrposefor which said bonds are authorized to be <br /> • <br /> issued, and negotiable notes of the County of Lee shall be issued for said sum <br /> so borrowed. • - <br /> (2) Said notes shall be designated "School Building Bond Anticipation Notes" <br /> and shall be dated June 19, 1958 and shall be payable December 19, 1958, <br /> and shall bear interest from their date at a rate which-shall not exceed six per <br /> centum (6%) per annum. Such interest shall be' payable at the maturity of such <br /> notes. Each of said notes shall be signed by the Chairman and Clerk of the <br /> Board of Commissioner's of said. County and the/seal of said County shall be <br /> affixed to each of said notes. <br /> (3) The power to fix,the rate ofinterest to be borne by said notes and to <br /> determine the place of, payment and the denomination or denominations of said <br /> notes is hereby delegated to the Chairman and Clerk of the Board of Commissioners <br /> of said County who are hereby authorized.and directed to cause said notes to be <br /> prepared and to execute said notes when they shall have been sold by the Local <br /> • Government Commission of North' Carolina; Said Local Government Commission <br /> of North Carolina is hereby requested to sell said notes in the manner prescribed <br /> by the Local Government Act of North Carolina. <br /> Commissioner Kelly seconded the motion', 'and the motion was adopted. <br /> Those voting for the resolution were Messrs. .Kelly, Measamer, Winstead:- <br /> Atkins, and Cheshire. <br /> No one voted against it. • <br /> On motion of Commissioner Kelly, which motion was seconded by <br /> Commissioner Winstead, a road petition presented by Harvey Kennedy requesting <br /> thatrtain road in Jonesboro Township be added to the State Highway and <br /> Public Works System was unanimously approved. <br />