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1969 - 08-22-69 Special Meeting
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1969 - 08-22-69 Special Meeting
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Minutes
Committee
Board of Commissioners
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BOOK 7 PnGE 345 <br />MINUTES OF THE SPECIAL MEETING OF <br />THE BOARD OF COMMISSIONERS FOR <br />LEE COUNTY, NORTH CAROLINA <br />Friday, August 22, 1969 <br />The special meeting of the Board of Commissioners for <br />the County of Lee, held pursuant to a call issued under the authority of General <br />Statute 153-8, convened in the Commissioners' Room at the County Office Building <br />at the corner of Steele and Wicker Streets in the City of Sanford, at 9 o'clock m., <br />on Friday, August 22, 1969, the same being the time, date and place specified, <br />Those present were Chairman John E. Dotterer and <br />Commissioners A. E. White, Perry White, Franklin D. Wicker and Gordon A. <br />Wicker. Chairman John E. Dotterer presided and the following business was <br />transacted: <br />Commissioner A. E. White presented the following resolution <br />and moved that it be adopted: <br />WHEREAS, the $35, 000 School Bond Anticipation <br />Note dated March 6, 1969, payable September 5, 1969, <br />issued in anticipation of the issuance of bonds authorized <br />by the bond order hereinafter described will become due <br />on September 5, 1969, and the Board of Commissioners <br />desires to provide for the renewal of said note as herein- <br />after set forth; NOW, THEREFORE, <br />BE IT RESOLVED, by the Board of Commissioners of <br />the County of Lee as follows: <br />(1) Said outstanding note shall be renewed by the issuance <br />of a $35, 000. 00 School Bond Anticipation Note pursuant to <br />The County Finance Act of North Carolina, as amended, for <br />the purpose for which bonds are authorized to be issued by <br />the bond order entitled "Bond Order authorizing the issuance <br />of $35, 000 School Bonds of the County of Lee", adopted by <br />the Board of Commissioners of the County on December 4, <br />1967, in anticipation of the receipt of the proceeds of the sale <br />of the bonds authorized to be issued by said bond order. <br />(2) A negotiable note of the County of the aggregate <br />principal amount of $35, 000 shall be issued for all moneys <br />borrowed pursuant to this resolution. Said note shall be <br />designated "School Bond Anticipation Note", and shall be <br />dated September 5, 1969, and shall be payable September 4, <br />1970, and shall bear interest at the rate of five and ninety <br />hundredths per centum (5. 90%) per annum. Such interest <br />shall be payable at the maturity of the note. <br />(3) The Chairman and Clerk of the Board of Commiss- <br />ioners are hereby authorized and directed to cause said note <br />to be prepared and to execute said note. <br />(4) The Chairman and Clerk of the Board of Commissioners <br />are authorized to make application to the Local Government <br />Commission of North Carolina for its approval of said note <br />in the manner prescribed by the Local Government Act, and <br />
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