BC 1994 02 21 - Laserfiche WebLink

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49 Thereupon, Commissioner Fennel introduced the following order authorizing bonds which was read: ORDER AUTHORIZING $81,000,000.00 SCHOOL BONDS WHEREAS, The Cabarrus County Board of Education and The Kannapolis City Board of Education have certified to the Board of Commissioners for the County of Cabarrus, North Carolina, resolutions passed by said boards of education showing that adequate school facilities are not now available in their respective administrative units to comply with the requirements of Section 2 of Article IX of the Constitution of North Carolina for the maintenance of schools nine months in every year and that it is necessary, in order to maintain such nine months' school term as required by said Section 2 of Article IX of the Constitution, to provide additional school facilities in .said units by erecting additional school buildings and other school plant facilities, replacing, remodeling, enlarging and reconstructing existing school buildings and other school plant facilities and acquiring any necessary land, rights-of-way and equipment therefor, the estimated aggregate cost of which is approximately $81,000,000.00; WHEREAS, said resolutions request said Board of Commissioners to take all necessary steps, by the issuance of bonds or otherwise, in order that funds for such school facilities may be provided; and WHEREAS, said Board of Commissioners has carefully examined the facts and has determined and does hereby find as a fact that the statements made in said resolution are true and that it has become the duty of said Board of Commissioners, acting as an administrative agent of the State in providing a State system of public schools, to order the issuance of bonds of the County of Cabarrus so that the school facilities mentioned in said resolutions and in paragraph 1 of this order may be provided in order to maintain the nine months' school term in the County of Cabarrus as required by Section 2 of Article IX of the Constitution; now, therefore, BE IT ORDERED by the Board of Commissioners for the County of Cabarrus: 1. That, pursuant to The Local Government Bond Act, as amended, and in order to maintain the nine months' school term in the County of Cabarrus as required by Section 2 of Article IX of the Constitution, the County of Cabarrus, North Carolina, is hereby authorized to contract a debt, in addition to any and all other debt which said County may now or hereafter have power or authority to contract, and in evidence thereof, to issue School Bonds in an aggregate principal amount not exceeding $81,000,000.00 for the purpose of providing funds, 'with any other available funds, for erecting additional school buildings and other school plant facilities, replacing, remodeling, enlarging and reconstructing existing school buildings and other school plant facilities and acquiring any necessary land, rights-of-way and equipment therefor, in order to provide additional school facilities in said County. 2. That taxes shall be levied in an amount sufficient to pay the principal of and the interest on said bonds. 3. That a sworn statement of the debt of said County has been filed with the Clerk to the Board of Commissioners and is open to public inspection. 4. That this order shall take effect when approved by the voters of said County at a referendum as provided in The Local Government Bond Act, as amended. The Board of Commissioners thereupon designated the Finance Officer as the officer whose duty it shall be to make and file with the Clerk to the Board of Commissioners the sworn statement of debt of the County which is required by The Local Government Bond Act, as amended, to be filed after the bond order has been introduced and before the public hearing thereon. Thereupon the Finance Officer filed with the Clerk to the Board of Commissioners, in the presence of the Board of Commissioners, the sworn statement of debt as so required.