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1. That, pursuant to The Local Government Bond Act, as <br />amended, and in order to maintain the nine months' school term in <br />the County of Cabarrus as required by Section 2 of Article IX of <br />the Constitution, the County of Cabarrus, North Carolina, is <br />hereby authorized to contract a debt, in addition to any and all <br />other debt which said County may now or hereafter have power or <br />authority to contract, and in evidence thereof, to issue School <br />Bonds in an aggregate principal amount not exceeding <br />$49,000,000.00 for the purpose of providing funds, with any other <br />available funds, for erecting additional school buildings and <br />other school plant facilities, replacing, remodeling, enlarging <br />and reconstructing existing school buildings and other school <br />plant facilities and acquiring any necessary land, rights-of-way, <br />furnishings and equipment therefor, in order to provide <br />additional school facilities in said County. <br /> <br /> 2. That taxes shall be levied in an amount sufficient to <br />pay the principal of and the interest on said bonds. <br /> <br /> 3. That a sworn statement of the debt of said County shall <br />be filed with the Clerk to the Board of Commissioners and be open <br />to public inspection. <br /> <br /> 4. That this order shall take effect when approved by the <br />voters of said County at a referendum as provided in The Local <br />Government Bond Act, as amended. <br /> <br /> The Board of Commissioners thereupon designated the Finance <br />Officer as the officer whose duty it shall be to make and file <br />with the Clerk to the Board of Commissioners the sworn statement <br />of debt of the County which is required by The Local Government <br /> <br /> <br />