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~ Dt S PAT41 15 <br />LA; <br />MINUTES OF THE ADJOURNED REGULAR MEETING <br />OF THE, BOARD OF COMMISSIONERS OF THE <br />COUNTY OF LEE,. NORTH CAROLINA ` 11 Monday,' October. 18, 1971 <br />The adj( <br />for the County of Lee <br />on the second floor o; <br />Streets in the City of <br />motion of adjournmeT <br />J. Eugene Rogers, P <br />D. Wicker. None of <br />was transacted: <br />Commi <br />as follows: <br />zrned regular meeting of the Board of Commissioners <br />North Carolina, convenedtin the Commissioners Room <br />the County office building, corner of Steele and Wicker <br />ianford, at 9:30 o'clock a. m., in accordance with the <br />Present were Commissioners William H. Cooper, <br />rry White, Gordon A. Wicker, and Chairman Franklin <br />he Commissioners was absent. <br />Franklin D. Wicker presided'and the following business <br />oner Perry White moved the adoption of a bond resolution <br />WHEREAS, the bond order hereinafter described <br />has taken effect and the Board of Commissioners desires to <br />-borrow money for the purpose for which bonds are authorized <br />to be issued by said bond order, in anticipation of the receipt <br />of the proceeds of the sale of said bonds, as hereinafter pro- <br />vided: NOW, THEREFORE, <br />BE IT RESOLVED by the Board of Commissioners <br />of the Countv of Lee as follows: <br />(1) The sum of $50, 000 shall be borrowed by the <br />County of Lee pursuant to the County Finance Act of North <br />Carolina, for the purpose for which bonds are authorized to <br />be issued by the bond order entitled "Bond Order authorizing <br />the issuance of $50,'000'Sanitaryi LandfillBonds of the County <br />of Lee" `adopted by the 'Boar&'WCommissioners of the County <br />on September 7, 1971, in anticipation of the receipt of the sale <br />of the bonds authorized to be issued by said bond order. Neg- <br />otiable notes of the aunty of the aggregate principal amount <br />of $50,,000 shall be issued for said moneys so borrowed.. Each <br />of said notes shall be designated"Sanitary Landfill Bond Anti- <br />cipation Note". <br />I (2) Said notes shall-be dated November 4, 1971, shall <br />be payable May 4, 1972and shall bear interest from their date at <br />a rate which shall not exceed ten per centum (10°fo) per annum. <br />Such interest shall. be payable at the maturity of the notes. Said <br />notes shall be signed by the Chairman and Clerk of the Board of <br />Commissioners and the seal of said County shall be affixed to <br />said nodes. <br />(3) The power to fix the rate of interest to. be borne <br />by said notes and to determine the denomination or denominations <br />and the iplace of payment of the notes is hereby delegated to the <br />Chairman and Clerk of the Board of Commissioners of the County <br />who'aref hereby authorized and directed to cause said notes to be <br />prepare Fd and to execute said notes when they have been sold by <br />the Local Government Commission of North Carolina. Said Local <br />