1996 - 02-12-96 Special Meeting - Laserfiche WebLink

Home Browse Search

Adft 006 ebnK 16 31 1RP The Board considered the FY 1996/97 budget procedure calendar. County Manager William Cowan asked the Board to consider this calendar with changes from past year procedures. He told the Board the calendar schedule has been moved up approximately fifteen (15) days for the Board to have more time for budget deliberations. He also told the Board he had scheduled a joint meeting with the Board of Education members for February 29, 1996 from 5:00 - 7:00 p.m. After some discussion Commissioner Dossenbach moved to approve the budget procedure calendar as presented. Commissioner Moretz seconded the motion, and upon a vote, the results were as follows: Aye: Cox, Dossenbach, Garner, Grace, Matthews, Moretz and Reives Nay: None The Chairman ruled the motion had been adopted unanimously. The Board considered a bond order for special election of school bonds in the amount of $25,000,00 and the scheduling of a public hearing. County Attorney K.R. Hoyle told the Board the Application for Approval of the proposed debt by the Local Government Commission has been filed and the Board needed to introduce the bond order, set the date for a public hearing, direct the filing of a debt statement, and authorize publication of the bond order and notice of hearing. Commissioner Dossenbach introduced the following bond order which was read by County Attorney K. R. Hoyle: `BOND ORDER AUTHORIZING THE ISSUANCE OF $25,000,000 SCHOOL BONDS OF THE COUNTY OF LEE" WHEREAS, the Board of Commissioners of the County of Lee has received and considered a resolution from the Lee County Board of Education including a request that the Board of Commissioners provide and improve school facilities in the County of Lee; and 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 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 notified the Board of Commissioners that the application has been filed and accepted for submission to the Local Government Commission; NOW, THEREFORE, BE IT ORDERED by the Board of Commissioners of the County of Lee, as follows: Section 1. The Board of Commissioners of the County Lee has ascertained and hereby determines that it is necessary to provide improvements to school facilities in the County of Lee, including the acquisition and construction of new school facilities and the improvement and expansion of existing school facilities, and including the acquisition and installation of necessary furnishings and equipment and the acquisition of land or rights-in-land required therefor, and to pay capital costs of such improvements. Section 2. In order to raise the money required to pay capital costs of providing the improvements as set forth above, in addition to any funds which may be made available for such purpose from any other sources, bonds of the County of Lee are hereby authorized and shall be issued pursuant to The Local Government Finance Act of North Carolina. The maximum aggregate principal amount of said bonds authorized by this bond order shall be $25,000,000. Section 3. A tax sufficient to pay the principal of and interest on said bonds when due shall be annually levied and collected.