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282
<br />
<br /> I, John R.Boger, Register of Deeds and ex officio Clerk of the Board of Commissioners for the
<br /> County of Cabarrus, North Carolind, DO HEREBY CERTIFY that the foregoing is a true copy of a statem ~nt
<br /> filed with me on July 5, 1955, after the introduction of an order authorizing $2,630,000
<br /> School Building Bonds of~ said County, and that said statemen is open to public inspection in m~
<br /> office. --~
<br />
<br /> Witness m~ hand and the corpoate seal of said County, this 5 day of July, 1955.
<br />
<br /> JohnR.Boger
<br /> Register of Deeds and ex officiol
<br /> (Seal) Clerk of the Board of Commissioners
<br />
<br /> An adjourned regular meeting of the Board of Commissioners for the Countyof Cabarrus, North
<br /> Carolina, convened at the County Courthouse in Concord, North Carolina, tbs regular place of
<br /> meeting, at 10 o,clock, A. M. July 18, 1955.
<br />
<br /> Present:Chairman J. Lee White and Cou~uissioners P.F~nest Stallings, M. Smoot Lyles, L.
<br /> Bowman Barrier, ami W.F~ank McCray
<br /> Absent: None.
<br />
<br /> Commissioner P: .Ernest Stallings introduced the following bond order which was read:
<br />
<br /> ORDER AUTHORIZING $107,000
<br /> REFUNDING BONDS
<br />
<br /> BE :IT ORDERED AND RESOLVED by t~ Board of Commissioners for the County of Cabarrms:
<br />
<br /> 1. That bonds of the County of Cabarrus, North Carolina, shall be issued, pursuant to The
<br /> County Finance Act, as amended, in an amount not exceeding $25,000 for the purpose of refunding
<br /> a like amount of the principal of valid subsisting bonded indebtedness of said County which was
<br /> incurred before january 1, 1929 for the construction of roads aad bridges in said County and is
<br /> evidenced by the following:
<br />
<br /> $25,000 Road and Bridge Bonds, dated June 1, 1924, maturing June 1, 1956.
<br />
<br /> 2. That Bonds of the County of Cabarrus, NOrth Carolina, shall be issued, pursuant to The
<br /> County Finance Ac~, as amended, in an amount not exceeding $9,000 for the purpose of refunding
<br /> a like amount of Ihs principal of valid subsisting bonded indebtedness of said County which was
<br /> incurred for necessary expenses of said County and is evidenced by the following:
<br />
<br /> $ 5,000 General Refunding Bonds, da~ed March 1, 1955, maturing March 1, 1956, and
<br /> $ 4,000 Courthouse Bonds, da~ed March 1, 1953, ma~uring March 1, 1956.
<br />
<br /> 3. That bonds of the County of Cabarrus, North Carolina, shall be issued, pursuant to/ The
<br /> County Finance Act, as amended, in an amount not exceeding $73,000 for the purpose of refunding a
<br /> like amount of the principal of valid subsisting bonded indebtedness of said County which was
<br /> originally incurred by the Board of Commissioners (as an administrative agent of the State in
<br /> providing a State system of public schools ) for maintaining the constitutional six months'
<br /> school term and is evidenced bythe following:
<br />
<br /> $10,000 School ~onds, da~ed October 1, 1927, ma~uring October 1, 1955.
<br /> $15,000 School Building Bonds, dated December 1, 1937 maturing December 1, 1955.
<br /> $16,000 School Building Bonds, Series A, dated September 1, 1948, maturing March 1, 1956.
<br /> $10,000 School Bu~l~tng Bonds, Series B, dated September 1, 1948, refuting March 1, 1956.
<br /> $ 8,000 School Building Bonds,Series C, dated September 1, t9~8, maturing March 1, ~956.
<br /> $ 9,000 School Building Bonds, Series D, dated September 1, 1948 ma~uring March 1, 1956.
<br /> $ 5,000 Refunding School Bonds, dated September 1, 1953, maturing March 1, 1956.
<br />
<br /> 4. That a tax sufficient to pay the principal and interest of the $107,000 bonds herein
<br /> authorized, when due, shall be annually levied and collected.
<br />
<br /> 5. That the holders of the $107,O00 bonds herein authorized shall be subrogated to all the
<br /> rights and powers of the holders of the indebtedness refunded thereby.
<br />
<br /> 6. That a statemen of the County debt has been filed with the Clerk and is open to public
<br /> inspection.
<br />
<br /> 7. That this order shall take effect upon its passage and shall not be submitted to the voter..
<br />
<br /> The Board thereupon designated the County Accountant as the officer to make and file with the
<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 the order which was introduced at this
<br /> meeting.
<br />
<br /> Thereupon the County Accountant Filed with the Clerk in the presence of tM Board the Statement
<br /> o£ debt and assessed valuation as so required.
<br />
<br /> Thereupon the order entitled: "ORDER AUTHORIZING $107,000 REFUNDING BONDS" was passed on fimst
<br /> rea~ing.
<br />
<br />
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