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252
<br />
<br /> 2nd week
<br />
<br /> Mrs. J. P .Rimer T 11 Zeb Payne T 7 RaymoD~ Fink T °6
<br /> J P Dorton T ll Roy Ritchie T 5 W.B. Allen T 5
<br />
<br /> Eugene B. Henderson T h E.C. Stephens T 12 C.B. Bost T ll
<br /> L. N. Overcash T ~ H.S. Fisher T h Howard Davis T h ~
<br /> Mrs Fay Misenheimer T 2 Jim Frady T ll C.R..Blackwelder T 5
<br /> G. D. Medlin T 8 L.L. Stough T 12 ~.erry H Roberts T ~
<br /> George L. Pless T 5 C~rl W. Harkey T k P J Allred T 12
<br /> J Lee Hartsell T l0 Mrs Ralph Roberts T 2 Bobby Mo~ e Fis~e r T ~
<br /> Jessie Cruse T 7 ..i Ralph Moose T 5 Craig Bost T l0
<br /> Howard Pless T ~ !~ Mrs Norman J Boger T h Hugh Coley T 9
<br /> George 0 Troxell T 12 R.L.Weddington T 12 A.S.Cook T 5
<br /> Glenn M Rosemau T 12 G.B. Cope T 2 Everett T. Wilson T h
<br />
<br /> The Board of Commissioners for the County of Qabarrus, North Carolina, convened in
<br />
<br /> regular session at the County Courthouse in Concord, the reg lar place of meeting, at lO o'clock
<br />
<br /> A. M., January 3, 1955.
<br />
<br /> Present: J. Lee White,Chairman, and Commissioners M. Smoot Lyles, P.Ernest Stallings,
<br />
<br /> L.Bowman Barrier, and W.Frank McCray.
<br /> Absent: None.
<br />
<br /> Commissioner L. Bowman Barrier introduced the following resolution which was read:
<br />
<br /> RF~OLUT~ON PROVIDING FOR THE ISSUANCE OF $61,000 REFUNDING SCHOOL
<br /> $ h,O00 GENEm
<br />
<br /> BE IT RESOLVED by the Board of CommissioneTs ~for tM County of Cabarrus:
<br />
<br /> Section 1. That the Board of Commissioners has determined and does hereby find and declar~
<br />
<br /> (a) That an order authorizing $85,000 refunding bonds of Cabarrus County was finally
<br /> passed on October ~, 195h.
<br />
<br /> (b) That none of said bonds has been issued and that a $1~,O00note has been issued in
<br /> anticipatiOn of the receiPt of the proceeds of a like amount of said bonds, which note is~de~ignat~d
<br /> "Refunding School Bond Anticipation Note", is dated November 20, 195~, matures on March l,
<br /> and wasissued to refund $15,O00 SchoOl Building Bonds dated December l, 1937 a~ maturing on
<br /> December l, 195~.
<br />
<br /> Section 2. Thatfor the pu~ose of ref~ding the remaining $h6,000 bonds described in
<br /> paragraph 3 of said order and for paying said $15,000 Refundirg School Bond Anticipation Note at
<br /> its maturity there shall be issued the negotiable coupon bonds of the County of Cabarrus in the
<br /> aggregate principal amount of $61,000, designated "Refunding School Bonds", consisting of 61
<br /> bonds of the denomination of $1,O00 each, numbered 1 to 61, inclusive,~dated March 1, 1755,
<br /> maturing annually, March l, in numerical order; lowest numbers first, $1,000 1960, $~,0OO 1961
<br /> to 196~, inclusive, $10,000 1966, $10,000 1967, and $15,0OO 1~68 ~ without option of prior payment
<br />
<br /> Section 3. That for the purpose of refunding the bonds described in paragraphs I and 2
<br /> of said order there shall be issued the negotiable coupon bonds of the County of Cabarrus in the
<br /> agEregate principal amount of $24,8O0, designated "General ~e£unding Bonds", consisting of 2h
<br /> bonds of the denomination of $1'0OO ~ach, numbered 1 to 2h, inclusive,~.dated March 1, 19~,
<br /> maturing ~annually, March l, in numermcal order, lowest~numbers first, ~5,000 1756 to 1959, inclusi'
<br /> and Sh,O00 1960, without option of prior payment.
<br />
<br /> Section h. That said $61,000 Refunding School Bonds and $24,000 General Refunding Bonds
<br /> shall bear interest at the rate or rates not exceeding 6% per annum to be determined by the
<br /> LOcal Government Commission at the time the bonds are sold, which interest shall be payable
<br /> semi-annually on th first'days of March and September of each year, and both the principal of and
<br /> the interest on said bonds shall be payable at The Chase National Ba~ of the City of New York,
<br /> in the Borough of Manhattan, City and State of New York, in any coin or currency of the United
<br />
<br />
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