1996 - 09-16-96 Regular Meeting - Laserfiche WebLink

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16 0036 55~ THEREFORE, we, the Lee County Board of Commissioners, do proclaim Saturday, September 28, 1996, as Hunting and Fishing day in Lee County in recognition of the contribution sports persons make to the welfare of all citizens. We call upon our citizens to join with hunters, anglers and other responsible conservationists to ensure the wise use and proper management of our natural resources to benefit future generations. Commissioner Groce seconded the motion, and upon a vote, the results were as follows: Aye: Cox, Dossenbach, Garner, Groce, Matthews, Moretz and Reives Nay: None The Chairman ruled the motion had been adopted unanimously. The Board considered a resolution authorizing Lee County to borrow money from proceeds of the sale of bonds authorized to be issued by the School Bond Order. County Attorney K. R. Hoyle told the Board the Lee County Board of Commissioners needed to borrow money for the purpose for which the school bonds were authorized to be issued. The sum of $1,585,000 will be borrowed by the County of Lee, which has been designated "School Bond Anticipation Note". Commissioner Reives presented the following resolution and moved that it be adopted: WHEREAS, the bond order hereinafter described has taken effect and the Board of Commissioners of the County of Lee (the "Issuer"), desires to borrow money for the purpose for which bonds are authorized to be issued by said bond order in anticipation of the receipt of the proceeds of the sale of said bonds as hereinafter provided; NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the County of Lee, as follows: (1) The sum of $1,585,000 will be borrowed by the Issuer in anticipation of the receipt of a $1,585,000 portion of the proceeds of the sale of bonds authorized to be issued by the school bond order, adopted by the Board of Commissioners of the County of Lee, on March 11, 1996, for the purpose for which said bonds are authorized to be issued. Negotiable notes, each designated "School Bond Anticipation Note," shall be issued for said sum so borrowed. (2) Said notes shall be dated October 8,1996, shall be payable February 5, 1997 and shall bear interest from their date at a rate which shall not exceed seven per centum (7%) per annum. Such interest shall be payable at the maturity of the said notes. Each of said notes shall be signed by the Chairman and the Clerk of the Issuer and the seal of the Issuer shall be affixed to each of said notes. (3) The power to fix the rate of interest to be borne by said notes and to determine the denomination or denominations of the notes and the place of payment of 5