AG 2014 06 16 - Laserfiche WebLink

Home Browse Search

EXTRACT FROM MINUTES OF BOARD OF COMMISSIONERS OF THE COUNTY OF CABARRUS, NORTH CAROLINA The Board of Commissioners for the County of Cabarrus, North Carolina, met in regular session in the Commissioners' Meeting Room in the Cabarrus County Governmental Center in Concord, North Carolina, the regular place of meeting, at 6:30 p.m., on June 16, 2014, with , Chairman, presiding. The following Commissioners were: PRESENT: ABSENT: ALSO PRESENT: read: Commissioner introduced the following order authorizing bonds, which was ORDER AUTHORIZING $4000- ,OW 0000 GENERAL OBLIGATION SCI4 COLLEGE BONDS WHEREAS, the Board of Commissioners of Cabarrus County (the `Board ") has decided to pursue the issuance of general obligation seheel community college bonds in the maximum aggregate principal amount of $11, 080 ; 000 9.000.000 under the Local Government Bond Act (the "Act ") to finance, in part, the acquisition, construction, installation and equipping of a new pub lie °'°ffl°„'a: s..hea *� replace the — exisli g Royal Oaks Elementary Sew community college facility (Building 4000 - Advanced Technology Center) for Rowan- Cabarrus Communi , College within the boundaries of Cabarrus County including acquisition of necessary land and rights -of -way; and WHEREAS, the Board has filed an application with the Local Government Commission of North Carolina for approval of such bonds as required by the Act; BE IT ORDERED by the Board of Commissioners for the County of Cabarrus, North Carolina: 1. Pursuant to The Local Government Bond Act, as amended, the County of Cabarrus, North Carolina, is hereby authorized to issue general obligation bonds of Cabarrus County for the purpose of providing funds, together with any other available funds, to finance the acquisition, construction, installation and equipping of a new public elementafy sEheel to- Te-plaee the exislin g Royal Oaks Eleffleffiafy communi , college facility (Building 4000 - Advanced Technology Center) for Rowan - Cabarrus Community College within the boundaries of Cabarrus County including acquisition of necessary land and rights -of -way. 2. The bonds shall be in an aggregate principal amount not to exceed $4 000 008 9,000,000 . 3. The bonds shall be general obligations of Cabarrus County for the payment of principal of and interest on which its full faith and credit shall be irrevocably pledged and taxes will be levied in an amount sufficient to pay the principal of and interest on the bonds. G -4 Page 283