1995 - 08-21-95 Regular Meeting - Laserfiche WebLink

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® 800K 16 Pt.Q J76 4D Section 3. A District tax sufficient to pay the principal of and interest on said bonds when due shall be annually levied and collected. The revenues of the facilities hereinbefore described may be pledged to the payment of the interest on and principal of said bonds if and to the extent that the Board shall hereafter determine by resolution prior to the issuance of said bonds. In such event, the tax to pay the principal of and interest on said bonds may be reduced by the amount of such revenues available for the payment of such principal and interest. Section 4. A sworn statement of the District's debt has been filed with the Clerk of the Board of Commissioners and of the District and is open to public inspection. Section 5. This bond order shall take effect when approved by the voters of the District at a referendum. Commissioner Reives moved the adoption of the following resolution: WHEREAS, the bond order entitled, "BOND ORDER AUTHORIZING THE ISSUANCE OF $9,300,000 WATER BONDS OF THE LEE COUNTY WATER AND SEWER DISTRICT NO. 1" has been introduced at the meeting of the Board of commissioners, sitting as the governing body of the Lee County Water and Sewer District No. 1, held on August 21, 1995, and the Board desires to provide for the holding of a public hearing thereon and the submission of a statement of debt in connection therewith as required by The Local Government Bond Act; NOW, THEREFORE, HE IT RESOLVED Lee, sitting as the District No. 1, as (1) The on the 25th day Commissioners Room, North Carolina. by the Board of Commissioners of the County of governing body of the Lee County Water and Sewer follows: public hearing upon said bond order shall be held of September, 1995, at 7:00 p.m., in the at the Lee County Government Center, in Sanford, (2) The Clerk of the Board of Commissioners and of the District is hereby directed to cause a copy of the bond order to be published with a notice of such hearing in the form prescribed by law in a qualified newspaper no fewer than six days prior to such public hearing. (3) The District's Finance Officer is hereby directed to file with the Clerk of the Board of Commissioners and of the District prior to publication of the bond order with the notice of such public hearing, a statement setting forth the debt incurred or to be incurred, the assessed value of property subject to taxation by the District and the net debt of the District. 153 3