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~h~te of ~artl! OJarolim~ <br /> ~ep~rtm~:~d of ~hde ~rea~nrer <br /> <br />.~n~ [. eowes Store .mi Local Goreramcat ~'int~nc~' Diriaion <br />~"~'"'"'" and the ]~cal Gol,ernawat Commissiml JOHN O. FOUST <br /> <br /> Hay 19, 1987 <br /> <br /> Mr. Blair D. Bennett <br /> Finance Officer <br /> Cabarrus County <br /> P. O. Box 707 <br /> 77 South Union Street <br /> Concord, North Carolina 28025-0707 <br /> <br /> Re: County of Cabarrus - $14,500,000 Water Bands <br /> <br /> Dear Hr. Bennett: <br /> <br /> Congratulations on your successfu! bond referendum. Canvassing and <br /> publishing results of the referendum will complete the process necessary <br /> to perfect the authorization. However, the referendum proceedings are <br /> · subject to challenge until lapse of 30 days after the results are <br /> published. You may contact bond counsel for specific advice as to when <br /> the proceedings have been validated. <br /> <br /> Hr. 3ohn H. Barnes, Assistant Director, Bond Sales and Deliveries, will <br /> work with you and other officials in providing necessary bond proceeds <br /> in accordance with the bond authorization and according to the time <br /> schedule yet to be adopted. You should feel free to contact Hr. Barnes <br /> as you conclude your plans For expending the monies. <br /> <br /> It normally takes 90 to 120 days to prepare for a bond sale end obtain <br /> proceeds, therefore, you should advise us prior to entering bindin9 <br /> commitments against the authorization so that we may coordinate your <br /> sale with other municipalities and counties throughout thc State. <br /> <br /> Ne look forward to working with you in the future and please let us know <br /> if our assistance is needed. <br /> <br /> Sincerely, <br /> <br /> O. Foust <br /> <br /> 3DF/ns <br /> <br /> .-I Affir~ irr.4r lo i~.'q,,l Opl,~ rl,,ihl <br /> <br /> <br />