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0 B50K 17 P 6Ej.0rj() ® o 0 <br />"BOND ORDER AUTHORIZING THE ISSUANCE OF <br />54,300,000 COMMUNITY COLLEGE BONDS <br />OF THE COUNTY OF LEE" <br />WHEREAS, the Board of Commissioners of the County of Lee has received and <br />considered a resolution from the Board of Trustees of Central Carolina Community <br />College including a request that the Board of Commissioners provide additional <br />community college facilities at Central Carolina Community College; and <br />WHEREAS, the Board of Commissioners of the County of Lee deems it <br />advisable to make the improvements hereinafter described; and <br />WHEREAS, the Board has caused to be filed with the Secretary of The Local <br />Government Commission of North Carolina an application for Commission approval of <br />the bonds hereinafter described as required by The Local Government Finance Act. The <br />Secretary of the Local Government Commission has notified the Board that the <br />application has been filed and accepted for submission to The Local Government <br />Commission; NOW, THEREFORE, <br />BE IT ORDERED by the Board of Commissioners of the County of Lee, as <br />follows: <br />Section 1. The Board of Commissioners of the County of Lee has ascertained <br />and hereby determines that it is necessary to provide additional community college <br />facilities for Central Carolina Community College. This will include the construction of <br />a new building, the acquisition and installation of necessary furnishings and equipment, <br />and payment of capital costs of such improvements. <br />Section 2. In order to raise the money required to pay capital costs for <br />providing the improvements as set forth above, in addition to any funds which may be <br />made available for such purpose from any other sources, bonds of the County of Lee are <br />hereby authorized and shall be issued pursuant to The Local Government Finance Act of <br />North Carolina. The maximum aggregate principal amount of said bonds authorized by <br />this bond order shall be $4,300,000. <br />Section 3. A tax sufficient to pay the principal of and interest oil said bonds <br />when due shall be annually levied and collected. <br />Section 4. A sworn statement of the County's debt has been filed with the <br />Clerk to the Board of Commissioners and is open for public inspection. <br />Section 5. This bond order shall take effect when approved by the voters of <br />the County at a referendum. <br />Commissioner Sauls moved the adoption of the following resolution: <br />5 <br />