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237,
<br />
<br /> Clerk the statement of debt and assessed valuation of the County as required by The County Finance
<br /> Act, as amended, to be filed before the final passage of ~h e order whiCh was introdUced at this
<br /> meeting.
<br />
<br /> There upon the Courhy Accountant filed wi~h theClerk in the presence of the Board the
<br /> statement of debt a~ assessed valuation as so reqUired.
<br />
<br /> Thereupon the order entitled :"ORDER AUTHORIZING $85,000 REFUNDi~ BONDS" as passed on first
<br /> reading.
<br />
<br /> On motion duly made and unanimously carried the Board fixed l0 o' clock A. M., October 4,
<br /> 1954, as the hour and day for t~e public hearing Upon the foregoing order, and ~direCted ~the Clerk
<br /> to publish said order together with the appended note as required by The County Finance Act, as
<br /> amended, in the COncord Tribune not later than the tenth day bef°re said date.
<br />
<br /> I, John R. Boger, Register of Deeds and. ex officio Clerk of the Board of Commissioners for
<br /> the County of Cabarrus, North Carolina, DO HEREBY CERTIFY that theforegoing is a true copy of so
<br /> much of the proceedings of said Board at a meeting held September 7, 1954, as relates in any way
<br /> to authorization of $85,000 refunding bonds of said County, and that ·said proceedings are recorded
<br /> in Minute book 13 of the minutes of said Board, beginning at page 236 and ending at page 237.
<br />
<br /> WITNESS my hand and the corporate seal of said County, this 7 d~v of September, 1954.
<br /> John R. Boger,
<br />
<br /> Register of Deeds and ex officio Clerk of Boar~
<br />
<br /> of Commissioners.
<br />
<br /> I, Chas. N. Field, County Accountant of Cabarrus County, North Carolina, do make.~md file
<br /> the following statement of the financial condition of said County, having been designated by the
<br /> Board of Commissioners for ~hat purpose. Said statement includes a statemen~ of debt incurred and
<br /> to be incurred for school purposes and for other than school purposes under orders either passed
<br /> or introduced, whether evidenced by bonds, notes or otherwise, and whether incurred by origir~
<br /> creation of the debt or by assusption of debt, including debt incurred by the County Board of
<br /> EducatiOn, and debt to the State or. an~ department thereof, but not including obligations incurred
<br /> to meet appropriations in anticipation of revenues to an amount not exceeding the amount of the la~ t
<br /> preceding tax levy for school purposes ~_~d for ~ther than school purposes, nor including debt in-
<br /> curred in anticipation of the sale of ar~v kind of bonds:
<br />
<br /> (a) The assessed valuation of property
<br /> as last fixed for county taxation ~ $98,674,958.00
<br />
<br /> (b) Outstanding school debt $~,315,000.00
<br />
<br /> (c) Bonded school debt to be incurred under ·
<br /> orders either passed or introduced: $ 61,000
<br />
<br /> (d) The sum of items (b) and ~$) $ 2,376,000.90
<br />
<br /> (e) School sinking funds, being money
<br /> or iz~estm_ents thereof pledged and
<br /> held for the payment of principal of
<br /> ouSs~ndi~g seheet debt. $ 38~O26.t9
<br />
<br /> (f) $~ool credits, being prL~ci~l smms
<br /> owing to the County from School districts
<br /> which are ptedge~ to amd when collected
<br /> will be used in the retirement of
<br />................ ou%s~n~choet debt $ ~ None ..............
<br />
<br /> (g) Amount of unissued funding and refunding
<br /> school bonds including in gross debt $ 61,000
<br />
<br /> (h) The sum.of items (e), (f) and (g) $ 99,026.19
<br />
<br /> (i) Net school debt, being ~h e sum by which
<br /> item (d) exceeds item (h) $2,276,973.81
<br />
<br /> (j) The percentage that the net sChool debt
<br /> bears to said assessed valuation 2.308%
<br />
<br /> (k) Outstanding debt for other than
<br /> school purposes $ 321,OOO.OO
<br />
<br /> (1) Bonded debt for other than school
<br /> purposes to be incurred under
<br /> or, ers either passes or introduced:
<br /> Refunding bonds $ 24,000
<br />
<br />
<br />
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