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On motion duly m~de and unanimously carried the Board fixed 10 o'clock A. M.August 1, 1955,
<br />as the hour and day for the public hearing upon the foregoing order, and directed the clerk to
<br />publich 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 before said da~e.
<br />
<br /> I, John R.Boger, Register of Deed and ex officio Clerk of the Board of Commissioners for the
<br />County of Cabarrus, North Carolina, DO HEREBY CERTIFY that the foregoing is a true copy of so
<br />much of the proceedings of sa~Board at a meeting held July 18, 1955, as relates in any way to the
<br />authorization of $107,000 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 282 and ending at page 283.
<br />
<br /> Witness my hand and the corporate seal of said County, this 18 day of July, 1955.
<br />
<br /> John R.Boger (Seal)
<br /> Register of Deed and ex officio
<br /> Clerk of Board of commissioners
<br />
<br /> I, Chas. N.Field, County Accountant of cabarrus County, North C~rolina, do make and file
<br />the following statement cf the f~hahciat ~ondition of said County, having been designated by the
<br />Board of Commissioners for %ha% purpose. Said statement includes a statement of debt incurred
<br />and to be incurred for school purposes and for other than school purposes under orders either ~.Dasme
<br />or introduced, whether evidenced by bonds, no, es or otherwise, and whether incurred by original
<br />creation of the debt-or by assumption of debt, including debt incurred by the County Board of
<br />Education, and deb~ to ~he S%a~e or any department thereof, but not including obligations incurred
<br />to meet appropriations in anticipation of revenues to an amoun~ not exceeding the amount of ~he
<br />last preceding tax levy for school purposes and for o~her than school purposes, nor including debt
<br />incurred in anticipation of the sale of any kind of bonds:
<br />
<br />(a) The assessed valuation of property
<br /> as last fixed for county ~axation $98,674,958.32
<br />(b) Outstanding school debt $2,294,000.00
<br />
<br />(c) Bonded school debt to be incurred under
<br /> orders either passed or introduced:
<br /> School building bonds (order introduced (7/5/55) $2,630.000
<br /> Refunding bonds 73,000
<br />
<br />(d) The sum of items (b) and (c) $4,997,000.00
<br />
<br /> (e)School sinking funds, being money or investments ~hereof pledged
<br /> and held for %he paymen~ of principal of outstanding school debt
<br /> $20,710.09
<br />
<br />(f) School credits, being principal sums owing
<br /> to ~he County f rom school districts which are
<br /> pledgedto and when collected will be used
<br /> in %he retirement cf outstanding
<br /> school debt $ none
<br />
<br />(g) Amount of unissued funding and refunding
<br /> school bonds includimd in gross debt $73~000
<br />
<br />(h) The sum of items (e) (f) and (g) $93,710.09
<br />
<br />(i) Net School deb%, being ~hesum
<br /> by which item (d) exceeds item (h) $4,903,289.91
<br />
<br />(j) The percentage that the net school
<br /> debt-bears t said assessed valuation' - 4. 97%
<br />
<br />(k) Outstanding deb~ for other
<br /> than school purposes $312,000.00
<br />
<br />(1) Bonded debt for other than
<br /> school purposes to be incurred under
<br /> orders et%her passed or introduced:
<br /> Refunding bonds $ 34,000
<br />
<br />(m) The sum of items (k) and (1) $346,000.00
<br />
<br />(m) Sinking funds, (except school
<br /> sinkin~ funds), being money
<br /> or investments thereof pledged
<br /> and hel~ £o~]~he payment of
<br /> principal of deb~ outstanding
<br /> for other than school purposes $20,362.36
<br />(o) Moneys payable to the County by a
<br /> railroad or interurban railway
<br /> company under contract as all or
<br /> part of %he cost of grade crossing
<br />
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