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August 16, 2004 Page 586
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<br /> WHEREAS, The Cabarrus County Board of Education and The Kannapolis City
<br />Schools Board of Education have submitted to the Board of Commissioners for
<br />the County of Cabarrus, North Carolina, resolutions passed by said boards of
<br />education showing that adequate school facilities are not now available in
<br />their respective administrative units to comply with the requirements of
<br />Section 2 of Article IX of the Constitution of North Carolina for the
<br />maintenance of schools at leas~ nine months in every year and that it is
<br />necessary, in order to maintain and provide such school system as required by
<br />said Section 2 of Article IX of the Constitution, to provide additional
<br />school facilities in said units by erecting additional school buildings and
<br />other school plant facilities, replacing, remodeling, enlarging and
<br />reconstructing existing school buildings and other school plant facilities
<br />and acquiring any necessary land, rights-of-way, furnishings and equipment
<br />therefor, including computers, the estimated aggregate cost of which is
<br />approximately $94,900,000.00;
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<br /> WHEREAS, said resolutions request said Board of Commissioners to take
<br />all necessary steps, by the issuance of bonds or otherwise, in order that
<br />funds for such school facilities may be provided; and
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<br /> WHEREAS, said Board of Commissioners has carefully examined the facts
<br />and has determined and does hereby find as a fact that the statements made in
<br />said resolutions are true and that it has become the duty of said Board of
<br />Commissioners, acting as an administrative agent of the State in providing a
<br />State system of public schools, to order the issuance of bonds of the County
<br />of Cabarrus so that the school facilities mentioned in said resolutions and
<br />in paragraph 1 of this order may be provided in order to maintain the school
<br />system in the County of Cabarrus as required by Section 2 of Article IX of
<br />the Constitution; now, therefore,
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<br />BE IT ORDERED by the Board of Commissioners for the County of Cabarrus:
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<br />1. That, pursuant to The Local Government Bond Act, as amended, and in
<br /> order to maintain the school system in the County of Cabarrus as
<br /> required by Section 2 of Article IX of the Constitution, the County of
<br /> Cabarrus, North Carolina, is hereby authorized to contract a debt, in
<br /> addition to any and all other debt which said County may now or
<br /> hereafter have power or authority to contract, and in evidence thereof,
<br /> to issue School Bonds in an aggregate principal amount not exceeding
<br /> $94,900,000.00 for the purpose of providing funds, with any other
<br /> available funds, for erecting additional school buildings and other
<br /> school plant facilities, replacing, remodeling, enlarging and
<br /> reconstructing existing school buildings and other school plant
<br /> facilities and acquiring any necessary land, rights-of-way, furnishings
<br /> and equipment therefor, including computers, in order to provide such
<br /> school facilities in said County.
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<br />2. That taxes shall be levied in an amount sufficient to pay the principal
<br /> of and the interest on said bonds.
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<br />3. That a sworn statement of the debt of said County shall bt filed with
<br /> the Clerk to the Board of Commissioners and be open to public
<br /> inspection.
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<br />4. That this order shall take effect when approved by the voters of said
<br /> County at a referendum as provided in The Local Government Bond Act, as
<br /> amended.
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<br /> Commissioner Privette thereupon introduced
<br />authorizing bonds which was read:
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<br />ORDER AUTHORIZING $3,100,000.00
<br />COMMUNITY COLLEGE BONDS
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<br />the following order
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<br />BE IT ORDERED by the Board of Commissioners for the County of Cabarrus:
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<br />1. That, pursuant to The Local Government Bond Act, as amended, the CountY
<br /> of Cabarrus, North Carolina, is hereby authorized to contract a debt,
<br /> in addition to any and all other debt which said County may now or
<br /> hereafter have power or authority to contract, and in evidence thereof,
<br /> to issue Community College Bonds in an aggregate principal amount not
<br /> exceeding $3,100,000.00 for the purpose of providing funds, with any
<br /> other available funds, for erecting an additional educational building
<br /> and related improvements for Rowan-Cabarrus Community College and
<br /> acquiring furnishings and equipment therefor, including computers.
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