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NOTICE OF PUBLIC HEARING
<br /> AND
<br />ORDER AUTHORIZING $69,610,000
<br />REFUNDING BONDS
<br />
<br /> BE IT ORDERED by the Board of Commissioners for the County of Cabarms, North
<br />Carolina:
<br />
<br /> 1. That, pursuant to The Local Government Bond Act, as amended, the County of
<br />Cabarms, North Carolina, is hereby authorized to contract a debt, in addition to any and all other
<br />debt which said County may now or hereafter have power or authority to contract, and in
<br />evidence thereof, to issue Refunding Bonds in an aggregate principal amount not exceeding
<br />$69,610,000, for the purpose of providing funds, together with any other available funds, for (i)
<br />refunding all or a portion of the following outstanding general obligation bonds of said County:
<br />
<br />$3,250,000 Water Bonds, Series 1992, dated April 1, 1992 and stated to
<br /> mature on 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
<br />to 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
<br />mature 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
<br />interest on said Refunding Bonds.
<br />
<br /> 3. That a sworn statement 0f the debt of said County has been filed with the Clerk to
<br />the Board of Commissioners and is open to public inspection.
<br />
<br />4. That this order shall take effect upon its adoption.
<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 $11,269,970,000 and the net debt thereof, including the proposed bonds, to
<br />be $144,579,559.88. A tax will be levied to pay the principal of and interest on the bonds if they
<br />are issued. Anyone who wishes to be heard on the questions of the validity of the bond order and
<br />the advisability of issuing the bonds may appear at a public hearing or an adjournment thereof to
<br />be held by the Board of Commissioners of said County at its regular meeting at 6:30 p.m. on July
<br />21, 2003 in the Commissioners' 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 />Cabarms County, North Carolina
<br />
<br />
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