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NOTICE OF PUBLIC HEARING <br /> AND <br />ORDER AUTHORIZING $94,900,000 <br />SCHOOL BONDS <br /> <br />BE IT ORDERED by the Board of Commissioners for the County of Cabarrus: <br /> <br /> 1. That, pursuant to The Local Government Bond Act, as amended, and in order to <br />maintain the school system in the County of Caban'us as required by Section 2 of Article IX of <br />the Constitution, the County 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 hereafter have power or <br />authority to contract, and in evidence thereof, to issue School Bonds in an aggregate principal <br />amount not exceeding $94,900,000.00 for the purpose of providing funds, with any other <br />available funds, for erecting additional school buildings and other school plant facilities, <br />replacing, remodeling, enlarging and reconstructing existing school buildings and other school <br />plant facilities and acquiring any necessary land, rights-of-way, furnishings and equipment <br />therefor, including computers, in order to provide such school facilities in said County. <br /> <br /> 2. That taxes shall be levied in an amount sufficient to pay the principal of and the <br />interest on said bonds. <br /> <br /> 3. That a sworn statement'of the debt of said County has been filed with the Clerk to <br />the Board of Commissioners and be open to public inspection. <br /> <br /> 4. That this order shall take effect when approved by the voters of said County at a <br />referendum as provided in The Local Government Bond Act, as amended. <br /> <br /> The foregoing order has been introduced and a sworn statement of debt has been filed <br />under The Local Government Bond Act showing the appraised value of the County of Cabarms, <br />North Carolina, to be $11,693,976,644 and the net debt thereof, including the proposed bonds, to <br />be $269,864,603. A tax will be levied to pay the principal of and interest on the bonds if they are <br />issued. Anyone who wishes to be heard on the questions of the validity of the bond order and the <br />advisability of issuing the bonds may appear at a public hearing or an adjournment thereof to be <br />held by the Board of Commissioners of said County at a special meeting at 6:00 p.m. on August <br />25, 2004 in the Commissioner's Meeting Room in the Cabarrus County Governmental Center in <br />Concord, North Carolina. <br /> <br />Frankie F. Bonds <br />Clerk to the Board of Commissioners <br />for the County of Cabarms, North Carolina <br /> <br />8 <br /> <br /> <br />