2001 - 08-20-01 Regular Meeting - Laserfiche WebLink

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IN 38 FACE S:d G G Government Finance Act, and the Secretary of the Local Government Commission has notified the board that the application has been filed and accepted for submission to the Local Government Commission; NOW, THEREFORE, BE 11' ORDERED by the Board of Commissioners of the County of Lee, as follows: Section 1. The Board of Commissioners of the County of Lee has ascertained and hereby determines that it is necessary to provide voting machines in the County, and to pay capital costs thereof. Section 2. In order to raise the money required to pay capital costs of providing voting machines as set forth above, in addition to any finds which may be made available for such purpose from any other source, bonds of the County of Lee are hereby authorized and shall be issued pursuant to The Local Goverment Finance Act of North Carolina. The maximum aggregate principal amount of said bonds authorized by this bond order shall be $450,000. Section 3. A tax sufficient to pay the principal of and interest on said bonds when due shall be annually levied and collected. Section 4. A sworn statement of the County's debt has been filed with the Clerk of the Board of Commissioners and is open to public inspection. Section 5. No debt shall be contracted during any fiscal year by the issuance of bonds pursuant to this bond order if the amount of such debt and of all other debt contracted during such fiscal year shall exceed two-thirds of the amount by which the outstanding indebtedness of said County shall have been reduced during the next preceding fiscal year, unless the incurring of such debt shall be submitted to a vote of the people of the County and shall be approved by a majority of those who vote thereon. Section 6. This bond order shall take effect thirty days after its publication following adoption, unless it is petitioned to a vote of the people within thirty days after the date of its publication as introduced as provided in G.S. 159-60, and in such latter event, it shall take effect when approved by the voters of said County. "BOND ORDER AUTHORIZING THE ISSUANCE OF $1,435,000, SANITARY SEWER BONDS OF THE COUNTY OF LEE" WHEREAS, the Board of Commissioners of the County of Lee deems it advisable to make the improvements hereinafter described; and WHEREAS, the Board of Commissioners has caused to be filed with the Secretary of the Local Government Commission of North Carolina an application for Commission approval of the bonds hereinafter described as required by The Local Government Finance Act, and the Secretary of the Local Government Commission has 8