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0 Kor 18 PaCF 65 5 011 <br />which should have been supplied by, the successful bidder for the Bonds. The execution of the <br />Final Official Statement by the Chairman of the Board of Commissioners, the County Manager <br />and the Finance Officer is hereby authorized and approved. <br />3. The Chairman of the Board of Commissioners, the County Manager, the Finance <br />Officer and other officers of the Issuer are hereby authorized and directed to take all other <br />actions necessary in connection with the sale and issuance of the Bonds and the effectuation of <br />the purposes for which the Bonds are being issued. <br />4. This resolution shall become effective upon its adoption. <br />Commissioner Lemmond seconded the motion. Upon a vote, the results were as <br />follows: <br />Aye: Adams, Hincks, Lemmond, Matthews, Paschal, Reives, and Sauls <br />Nay: None <br />The Chairman ruled the motion had been adopted unanimously. <br />The board considered bids received on two pieces of property that have been <br />acquired by tax foreclosure. County Attorney K. R. Hoyle told the board that he had <br />received a $3,500 offer from Mr. Israel Lucas for a vacant lot located at 413 Maple <br />Avenue, and an $800 offer from Ms. Addie Reives for a vacant lot located on <br />Railroad Street. After some discussion, Commissioner Paschal moved to accept the <br />above offers and follow the upset bid procedure of sale. Upon a vote, the results were <br />as follows: <br />Aye: Adams, Hincks, Lemmond, Matthews, Paschal, Reives, and Sauls <br />Nay: None <br />The Chairman ruled the motion had been adopted unanimously. <br />The board considered an agreement to receive the balance of state bond <br />money for public school capital outlay projects. County Manager William Cowan <br />told the board that The North Carolina General Assembly passed the Public School <br />Building Bond Act of 1996 to provide for the issuance of state bonds to be used for <br />grants to counties for qualified public school capital outlay projects. Lee County <br />received an allocation of $8,473,841 and has received and used $5,473,841, leaving a <br />balance of $3,000,000. <br />Commissioner Matthews left the meeting during this discussion. <br />11 <br />