1985 - 08-19-85 Regular Meeting - Laserfiche WebLink

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County; and eooK It For- 837 WHEREAS, the Board has caused to be filed with the Secretary of the Local Government Commission of North Carolina an 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 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 of Lee has ascer- tained and hereby determines that it is necessary to provide additional school facilities in the Lee County School Administrative Unit, including the construction of new elementary, schools, the construction of additions to elementary school buildings, the acquisition of necessary land or rights-in-land and the acquisition and installation of furnishings and equipment necessary for such school facilities in order to maintain public schools in the.County for the school term prescribed by law and to pay capital costs of such improvements. Section Z. 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 source, 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 $10, 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. Section 4. A sworn statement of the County's debt has been filed with the Clerk of the Board of Commissioners and is open to public inspection. Section 5. This bond order shall take effect when approved by the voters of the County at a referendum. Commissioner Jerry M. Almond moved the adoption of the following resolution: WHEREAS, the bond order entitled, "BOND ORDER AUTHORIZING THE ISSUANCE OF $10, 000, 000 SCHOOL BONDS OF THE COUNTY OF LEE", has been introduced at the meeting of the Board of Commissioners held on August 19, 1985 and the Board desires to provide for the holding of a public hearing thereon and the submission of a statement of debt in connection therewith as required by The Local Government Bond Act; NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of the County of Lee, as follows: v.