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An adjourned regular meeting of the Board of Cce~aissioners for the Oount of
<br />
<br /> Cabarr~.s convened at the County Courthouse in ~oncord, North Oarelina, the ar
<br /> place c.f ~eeting, at 10 o,clock A. M. October 17, 1949.
<br /> Present; ChaPman J. Lee White, and Co~nissioners C. M, Crowell, Homer I
<br /> Fink ~d P. Ernest 3tailings
<br /> Absent; Ray W. Cline
<br />
<br /> Comissioner Homer L. Fink introduced the following resolution which was read~
<br />
<br /> RESOLUTION WniNG ISSUANCE OF
<br /> SCHOOL BUILDING BONDS, ~XEB B
<br />
<br /> BE' IT RESOLVED by +.he Board of Commissioners for the County of Cabarrus~
<br /> Sectio: 1. That the ~oard of Commissioners has determined and does hereby find and
<br /> declar ~
<br />
<br /> an authorizing $870,000 building bonds of Cabarrus County
<br /> That
<br /> order
<br /> $ Cl~OO1
<br />
<br /> was filmlly passed by the Board of Commissioners for the County of Cabarrus on ~y 20,
<br /> 1946,~hich order was approved hy the vote of a majority of the qualified voter of sa~
<br /> County who ~oted at an election duly called and held on July 2, 1~46.
<br />
<br /> (b) That an order authorizing $1,467,000 school building bonds of said C, .unty
<br /> was fi ~lly passed by said Board on April 19, 1948, which order was approved by the
<br /> vote o: a majority of the qualified voters of said county who voted at an elect.on dul~
<br /> called and held on June 30, 1948.
<br />
<br /> (c) That by a resolution passed by said Board on AuguSt 2, 1948 said $87~),000
<br /> school building bonds and said $1,467~000 school building bonds were consolidat~,d into
<br /> an iss ~e of $2,337,000 school building bonds, which resolution also fixed the d,~tails
<br />
<br /> and fo.' ~ and manner of execution of said $2,337,000 bonds and is entitled~ #RE~LUTION
<br /> FIXING THE DETAI~ AND FORM AND MANNER OF EXECUTION OF $2,337,000 SCHOOL BUILD~iG BONDS
<br /> (said ~solution being herein referred to as the eResolution#).
<br />
<br /> (d) That $870,000 of said bOnds have heretofore been issued pursuant to ~aid
<br /> Reso~u ;ion and orders and a resolution passed August 2, 1948 entitled~ "RE~OLUT [ON PRO-
<br />
<br /> THE L S A CE OF $870,000 SCHOOL BUILDING BONDS, SERIES A", said $870 000
<br /> bonds ~onsisting of 870 bonds of the denomination of $1,000 each, numbered 1 to 870,
<br /> inclusive, designated "School ~uilding Bonds, Ser~s A", and maturing annually, .March
<br /> 1, in Stuaberical order, lowest numbers first, $16, OO0 1950 to 1959, inclusive $~!0,000
<br />
<br /> 1960, ~25, O00 1961, $25,000 1962, and $40,000 1964 to 1978, all inclusive, with ,ut
<br />
<br /> option of prior payment.
<br />·
<br /> (e) That it is necessary that Cabarrus County, acting assan administrati' ~e agent
<br />
<br /> of the State in providi~ a State system of public school, s issue at this time ;500,000
<br /> of the unissued $1,467,000 bonds.
<br />
<br /> 8ectiol 2. That there shall be ~ssued at this time $500,000 of said unissued $ .,467,~
<br /> school ~uilding bonds, which $500,000 bonds shall be designated "School Buildin Bonds
<br /> Series Be shall consist of 500 bo~s of the denomination of $1, O00 each number. 1 to
<br /> 500, i tclusive, and said bonds shall mature annually, March 1, in numberical o: ~er,
<br /> lowest numbers first, $34,000 1950, $10, O00 1951, $10,000 1952, $8,000 1954,
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