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1. That, pursuant to Article 6 of Chapter 162A of the General Statutes of North Carolina and The Local Govern- mend Bond Act, as amended, the Water and Sewer District of Cabarrus County, in Cabarrus County, North Carolina, is here- by authorized to contract m debt, in addition to any and ~ll other debt which said District may now or hereafter have power or authority to contract, and in evidence thereof to issue Water Bonds in an aggregate principal amount not exceeding $7,275,000 for the purpose of providing funds, with any other available funds, for constructing a portion of a water system for said District, including the construction and installation of water mains and lines, water storage tanks, water pumping facilities and appurtenant facilities for the transmission and distribution of water to be provided by the City of Concord, North Carolina or Cabarrus county, North Carolina and the acquisition of necessary land, rights of way and equipment. 2. That taxes shall be levied in said District in an a~ount sufficient to pay the principal of and the interest on said bonds. 3. That a sworn statement of the debt of said District has been filed with the Clerk to said Board and is open to public inspection. 4. That this order shall take effect when approved by the voters of said District at a referendum as provided in The Local Government Bond Act, as amended. The Board of Cor~missioners thereupon designated the Finance Officer for the County as the officer whose duty it shall be to make and file with the Clerk to the Board of Co~issioners the sworn statement of debt Of the District which is required by The Local Government Bond Act, as amended, to be filed after the bond order has been introduced and before the public hearing thereon.