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MR. <br />Bm 14 <br />Nib) <br />MINUTES OF THE REGULAR MEETING <br />OF <br />THE BOARD OF COMMISSIONERS <br />FOR <br />THE COUNTY OF LEE, STATE OF NORTH CAROLINA <br /> <br />MONDAY, JUNE 1, 1992 <br /> <br />The regular meeting of the Board of Commissioners for the County <br />of Lee, State of North Carolina, convened at 9:30 A.M. on Monday, <br />June 1, 1992, in the Commissioners' Room, Lee County Government <br />Center, 106 Hillcrest Drive, Sanford, North Carolina. Those present <br />J were: Commissioners Albert L. Cox, Bobby R. Hall, Nathan E. Paschal, <br />Robert T. Reives, William C. Stafford, Jr., and Gordon A. Wicker. <br />Commissioner Bertha L. Matthews was absent due to recent back <br />surgery. Chairman Stafford declared a quorum present and the meeting <br />open for the transaction of business. <br />Chairman William C. Stafford, Jr., presided, and the following <br />business was transacted: <br />Commissioner Albert L. Cox delivered the invocation. <br />The Board reviewed the draft of the minutes of the May 18, 1992, <br />meeting. Commissioner Cox moved to adopt the minutes as the official <br />record of said meeting. Commissioner Hall seconded the motion, and <br />upon a vote, the results were as follows: <br />Aye: Cox, Hall, Paschal, Reives, Stafford and Wicker <br />Nay: None <br />The Chairman ruled the motion had been adopted unanimously. <br />The Clerk to the Board of Commissioners reported to the Board <br />that the bond order entitled, "BOND ORDER AUTHORIZING THE ISSUANCE OF <br />$9,000,000 GENERAL OBLIGATION REFUNDING BONDS OF THE COUNTY OF LEE," <br />which had been introduced on May 18, 1992, had been published on May <br />22, 1992, with notice that the Board would hold a public hearing <br />thereon on June 1, 1992, at 9:30 A.M. The Clerk also reported that <br />the County's Finance Officer had filed in the Clerk's office a <br />statement of debt complying with the provisions of The Local <br />Government Bond Act, and such statement as filed showed the net <br />indebtedness of the County to be .83% of the appraised valuation of <br />property in the County subject to taxation. <br />Commissioner Hall moved that the Board of Commissioners proceed <br />to hold a public hearing on the refunding bond order. The motion was <br />1 <br />