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NOTICE OF PUBLIC HEARING <br /> AND <br />ORDER AUTHORIZING $3,100,000 <br />COMMUNITY COLLEGE 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, the County of <br />Cabarrus, North Carolina, is hereby authorized to contract a debt, in addition to any and all other <br />debt which said County may now or hereatter have power or authority to contract, and in <br />evidence thereof, 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 other available funds, for <br />erecting an additional educational building and related improvements for Rowan-Cabarrus <br />Community College and acquiring furnishings and equipment therefor, including computers. <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 $11,693,976,664 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 Cabarms 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 Cabarrus, North Carolina <br /> <br /> <br />