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A regular meeting of the Board of Conunissioners for the Cmmty of Cabarrus convened
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<br />at the County Courthouse in Concord, i'[orth Carolina, the regular place of meeting,, at lO o'clock,
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<br />A. [~.~ February h, 1952.
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<br /> Present: Chairman J. Lee White , and Commissioners H. L. Fink; P.~ E. Stallings, L.
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<br />Bowman Barrier and ~i. S. Lyles.
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<br /> Absent: None .
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<br /> Commissioner ~. S. Lyles introduced the following resolution which was read:
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<br /> RESOLUTION PROVIDIDING FOR THE
<br /> ISSUA}~CE OF $~67,000 SCHOOL
<br /> BUILDING BONDS, SERIES D
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<br /> BE IT RESOLVE]3 by the. Board of Commissioners for the County of Cabarrus:
<br /> Section 1. That the Board of Con~nissioners ha~s determined and does hereby find and
<br />declare:
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<br /> (a) That au order authorizing $8?0,000 school building bonds of Cabarr~ County was
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<br />£inally passed by the Board of Commissioners for the County of Cabarrus on May 20, 19hS, which
<br />order was approved by the vote of a majority of the qualified voters of said County who voted
<br />at an election duly calle~ and he±d on July 2, 19hS.
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<br /> (b) That an order authorizing $£,h87,000 school bui±ding bon~s of said County was
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<br />finally passed by said Board on April 19~ 19h5, which order was approved by the vote of a
<br />majority of the qualified voters of said County who voted at an election duly called and held
<br />on June 50, 19hS.
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<br /> (c) That by a resolution passed by said Board on August ~, 19h8 said $870,000 school
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<br />building bonds and said $1,h57,000 school building bonds were consolidated into an issue of
<br />$~,~?,000 school building bonds, which resolution also fixed the details and form and manner
<br />of execution of said $2,~57,000 bonds and is entitled: "RESOLUTION FIXING THE DETAILS AND FORi~
<br />AND ~iANNER OF EYECUTION OF $2,~?,000 SCHOOL BUILDING BONDS" (said resolution being herein re-
<br />ferred to as the "Resolution").
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<br /> (d) That the following bonds have heretofore been issued:
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<br /> (i) $870,000 bonds, consisting of 870 bonds of the denomination of $i,000 each,
<br /> numbered i to 870, inclusive, designated "School Building Bonds, Series A",
<br /> and maturing annually, ~iarch l, in numerical order, lowest numbers first,
<br /> $10,0OO 1950 to 1959, inclusive, $20,000 1960, $2~,000 1961, $25,000 1962,
<br /> and ShO, O00 1963 to 1978, all inclusive, without option of prior payment,
<br /> which bonds were issued pursuant to said Resolution and orders and a resolu-
<br /> tion passed August 2, 19h8 entitled: "RESOLUTION P~OVI.DING FOR THE ISSUANCE
<br />
<br /> OF $870,000 SCHOOL BUILDING BONDS, SERIES A".
<br /> (ii) $500,O00 bonds, consisting of 500 bonds of the denomination of $i,O00 each,
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<br /> nmnbered i to 500, inclusive, designated "School Building Bonds, Series B",
<br /> and maturing annual±y, March l, in numerical order, lowest n~mbers first,
<br /> ~3h,ooo 175o, $1.o,ooo 1.751, $1o,ooo ]-95~, $8,oo0 1953, ~8,o00 195h, $1o,0o0
<br /> 1~55 to 1959, inclusive, and $20,000 1980 to 1978, inclusive, without option
<br /> of prior payment, which bonds were issued pursuant to said Resolution and
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