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Y~)--. <br />BOOj <br />rS',S'. IJU <br />been shut down for a period of time. After some discussion, <br />commissioner Cox moved to repair the well at a cost of $2,165.00, to <br />be taken from this years budget. Commissioner Matthews seconded the <br />motion, and upon a vote, the results were as follows: <br />Aye: Cox, Hall, Matthews, Paschal, Reives, Stafford and Wicker <br />Nay: None <br />The Chairman ruled the motion had been adopted unanimously. <br />The Board considered water petitions for Wildwood Subdivision <br />and Lower Moncure Road. Residents in both areas had submitted <br />petitions asking the County to extend water lines in their areas. <br />The cost for installing lines to the Wildwood Subdivision will cost <br />$147,500.00 and $245,000.00 to the Lower Moncure Road area. After <br />some discussion Commissioner Matthews moved to send letters to <br />residents in both locations telling them total price for each <br />extension, the individual price for each property owner and attaching <br />a form to each letter to be signed and returned to the water <br />department voting "for" or "against" the extension and stating money <br />would have to be paid up front before work could begin. If 61% of <br />the residents vote for the extension a public hearing will be held. <br />Commissioner Hall seconded the motion, and upon a vote, the results <br />were as follows: <br />Aye: Cox, Hall, Matthews, Paschal, Reives, Stafford and Wicker <br />Nay: None <br />The Chairman ruled the motion had been adopted unanimously. <br />The Board considered a resolution approving the rates of <br />interest to be borne by the $9,700,000 Public Improvement Bonds and <br />to approve the official statement and final official statement on <br />said Bond Issue. Commissioner Hall moved that the following <br />resolution be adopted: <br />WHEREAS, the Local Government Commission of North Carolina <br />has informed the Board of Commissioners of the County of Lee (the <br />"Issuer") that it has sold in the manner prescribed by law the <br />Issuer's $9,700,000 Public Improvement Bonds, Series 1992, dated July <br />1, 1992 (the "Bonds"), and that the contract of sale contemplates <br />that the Bonds shall bear interest as hereinafter provided; and <br />WHEREAS, the Board of Commissioners desires to take such <br />actions as are necessary to approve the terms of such sale and to <br />approve the official statement and final official statement <br />circulated in connection therewith: NOW THEREFORE, <br />4 <br />