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accordance with the provisions for registrtlon hereinabove in this resolution <br />provided to be endorsed upon said bonds, and the County Treasurer is hereby <br />designated Bond Registrar for the registraton and transfer of said bonds, subject <br />to the right of the Board of Commissioners of the County of Cabarrus hereafter to <br />designate another Bond Registra~ . No charge shall b e made to any bond holder for <br />the privilege of registration and transfer herein granted. <br /> <br /> Section ~. That said $125,000 School Building Bonds and all other indebted~Less <br />heretofore contractedin the current fiscal year does not exceed two-thirds of the <br />amount by which the outstanding indebtedness of the County of Cabarrus was reduced <br />in the preceding fiscal year. <br /> <br /> Section 6. That the action of .the County Attorney in applying to the Local <br /> <br />Government Commission to advertise and seall said $12~,000 SchoolBuilding Bonds, <br />and the action of the Local Govermment Commission in asking for sealed bids for <br />said bonds (by publishing a sale notice and printing and distriouttng circulars), <br />be and. the same are here0y ratified and confirmed, <br /> <br /> Upon motion of Commissioner W.Guy Isen~our, seconded by Commissioner M. <br /> <br />Smoot Lyles, the foregoing ,resolution entitled: "RESOLUTION PROVIDING FOR THE ISSUA}iCE <br /> <br />OF $12~,000 SCHOOL BUILDING BONDS" was passed by the following vote: <br /> <br /> ~yes: Commissioners W.Frank McCray, M. Smoot Lyles, P.Ernest Stalling, L. <br /> <br />Bowman Barrier and W.Guy Isenhour. <br /> <br /> Noes: NOne. <br /> <br /> ~ne~e being no fu~the~ business, t he Boazd adjozned. <br /> <br /> - - ~ald- ]' - <br /> <br /> <br />