1998 - 04-20-98 Regular Meeting - Laserfiche WebLink

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B001( V PAGE 314 MINUTES OF THE MEETING OF THE LEE COUNTY BOARD OF COMMISSIONERS IN ITS CAPACITY AS THE GOVERNING BODY OF THE LEE COUNTY WATER AND SEWER DISTRICT NO. 1 APRIL 20, 1998 A meeting of the governing body of The Lee County Water and Sewer District No. I was held in the Commissioners' Room, Lee County Government Center, 106 Hillcrest Drive, Sanford, North Carolina, immediately following the regular meeting of the J Lee County Board of Commissioners held on said date. Commissioners present were Jimmie M. Cox, F. Hubert Garner, T. Ervin Mansfield, Bertha L. Matthews, J. Douglas Moretz, Nathan E. Paschal and Robert T. Reives. Chairperson Matthews presided and Gaynell M. Lee, Clerk to the Board of Commissioners, acted as Secretary of the meeting. Commissioner Cox moved to approve the consent agenda as printed, which consisted of the following item: • Minutes of the April 6, 1998 meeting Commissioner Moretz seconded the motion, and upon a vote, the results were as follows: Aye: Cox, Garner, Mansfield, Matthews, Moretz, Paschal and Reives Nay: None The Chairperson ruled the motion had been adopted unanimously. The Board considered a resolution for water bond anticipation notes. County Attorney K. R. Hoyle told the Board The Lee County Water district has issued $2,831,000 Water Bond Anticipation Notes, dated September 2, 1997 and payable May 20, 1998 to borrow money for the water project. He told the Board a resolution to renew the maturing notes in anticipation of the receipt of the proceeds of the sale of bonds needed to be considered. Commissioner Garner moved approval of the following resolution: WHEREAS, the bond order hereinafter described has taken effect and the Board of Commissioners of the County of Lee, sitting as the governing body of Lee County Water and Sewer District I (the "Issuer"), has issued $2,831,000 Water Bond