|
EXTRACT FROM MINUTES OF BOARD OF COMMISSIONERS OF
<br /> THE COUNTY OF CABARRUS, NORTH CAROLINA
<br />
<br /> The Board of Commissioners for the County of Cabarms, North Carolina, met in regular session
<br />in the Commissioners' Meeting Room in the Cabarrus County Governmental Center in Concord, North
<br />Carolina, the regular place of meeting, at 6:30 p.m., on June 16, 2003, with Robert M. Freeman,
<br />Chairman, presiding. The following Commissioners were:
<br />
<br />PRESENT:
<br />
<br />ABSENT:
<br />
<br />ALSO PRESENT:
<br />
<br />Commissioner
<br />
<br />introduced the following order authorizing bonds which was read:
<br />
<br />ORDER AUTHORIZING
<br />$69,610,000 REFUNDING BONDS
<br />
<br />BE IT ORDERED by the Board of Commissioners for the County of Cabarrus, North Carolina:
<br />
<br /> 1. That, pursuant to The Local Government Bond Act, as amended, the County of Cabarms,
<br />North Carolina, is hereby authorized to contract a debt, in addition to any and all other debt which said
<br />County may now or hereafter have power or authority to contract, and in evidence thereof, to issue
<br />Refunding Bonds in an aggregate principal amount not exceeding $69,610,000, for the purpose of
<br />providing funds, together with any other available funds, for (i) refunding all or a portion of the following
<br />outstanding general obligation bonds of said County:
<br />
<br />$3,250,000
<br />
<br />Water Bonds, Series 1992, dated April 1, 1992 and stated to mature on
<br />April 1, 2004 to April 1, 2012, inclusive,
<br />
<br />$14,095,000
<br />
<br />Refunding Bonds, Series 1993, dated November 1, 1993 and stated to
<br />mature on March 1, 2004 to March 1, 2010, inclusive, and
<br />
<br />$38,800,000
<br />
<br />School Bonds, Series 1997, dated February 1, 1997 and stated to mature
<br />on February 1, 2004 to February 1, 2018, inclusive,
<br />
<br />and (ii) paying expenses related thereto.
<br />
<br /> 2. That taxes shall be levied in an amount sufficient to pay the principal of and the interest
<br />on said Refunding Bonds.
<br />
<br />
<br />
|