1995 - 09-25-95 Regular Meeting - Laserfiche WebLink

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trr:;r- aoa, 16 Y.f,, 226 secured by a pledge of the District's faith and credit, (b) the levy of a tax for the payment thereof, and (c) said bond order shall be submitted to the qualified voters of said District at an election to be held in said District on November 7, 1995. (2) The Clerk of the Board of Commissioners and of the District is hereby authorized and directed to publish a notice of said election which shall be in substantially the following form: LEE COUNTY WATER AND SEWER DISTRICT NO. 1 NORTH CAROLINA NOTICE OF SPECIAL BOND ELECTION NOTICE IS HEREBY GIVEN that a special bond election will be held in Lee County Water and Sewer District No. 1, Sanford, North Carolina, on November 7, 1995, for the purpose of submitting to the qualified voters of said District the questions whether they shall approve or disapprove (1) the indebtedness to be incurred by the issuance of bonds of said District of the maximum principal amount of $9,300,000, which indebtedness shall be secured by a pledge of the District's faith and credit, and (2) the levy of a tax for the payment of such bonds, and (3) 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," adopted by the Board of Commissioners of the County of Lee, sitting as the governing body of said District No. 1, to authorize the issuance of said bonds and the levy of such tax. The $9,300,000 water bonds are authorized to pay capital costs of providing water storage, treatment and distribution facilities within and without the District, including the acquisition and installation of water storage tanks, a treatment plant and distribution lines, and including the acquisition and installation of necessary machinery and equipment and the acquisition of land or rights-in-land required therefor. The ballots to be used at said election shall contain the words, "SHALL the order authorizing $9,300,000 of bonds secured by a pledge of the faith and credit of the Lee County Water and Sewer District No. 1 to pay capital costs of providing water storage, treatment and distribution facilities within and without the District, including the acquisition and installation of water storage tanks, a treatment plant and distribution lines, and including the acquisition and installation of necessary machinery and equipment and the acquisition of land or rights-in-land required therefore and a tax to be levied for the payment thereof, be approved?" with squares labelled "YES" and "NO" beneath or beside such words in which squares the voter may record his choice. In the event a majority of the qualified voters voting at said election vote to approve the order, the incurring of indebtedness and the levy of a tax related thereto, said bonds shall be issued and taxes 071 3