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158 <br /> <br />The Board of Commissioners for the County of Cabarrus <br /> <br />met in special session at the Courthouse in Concord, North <br /> <br />Carolina on Monday, June 12, 1978 at 4:00 p. m. <br /> <br />Present - Chairman: S. Glenn Hawfield, Jr. <br /> <br />Commissioners: <br /> <br />Robert A. McClary <br />John A. Hammett <br />Marcelle Milloway <br />Troy R. Cook <br /> <br />UPON MOTION of Chairman Hawfield, Cathie K. Isenhour <br /> <br />was appointed acting Clerk to the Board of County Commis- <br /> <br />sioners, seconded by Commissioner Hammett and carried <br /> <br />unanimously. <br /> <br />John Boger, County Attorney, announced that the meeting <br /> <br />was called in order to adopt a resolution providing for the <br /> <br />issuance of $340,000.00 PUBLIC BUILDING BOND ANTICIPATION <br /> <br />BONDS. <br /> <br />Commissioner Hammett introduced the following resolution <br /> <br />which was read: <br /> <br /> RESOLUTION PROVIDING FOR THE ISSUANCE OF <br />$340,000 PUBLIC BUILDING BOND ANTICIPATION BONDS <br /> <br /> BE IT RESOLVED by the Board of Commissioners for the <br />County of Cabarrus: <br /> <br /> Section 1. The Board of Commissioners has determined <br />and does hereby find and declare: <br /> <br /> (a) That an order authorizing not exCeeding $340,000 <br />Public 'Building Bonds was adopted by the Board of Commis- <br />sioners for the County of Cabarrus on April 17, 1978, which <br />order has taken effect. <br /> <br /> (b) That none of said bonds has been issued and that <br />no notes have been issued in anticipation of the receipt of <br />the proceeds of the sale of any of said bonds. <br /> <br /> (c) That it is necessary to issue at this time <br />$340,000 notes in anticipation of the receipt of the proceeds <br />of the sale of a like amount of said bonds. <br /> <br /> Section 2. In anticipation of the receipt of the pro- <br />ceeds of the sale of a like amount of said bonds, the issu- <br />ance of $340,000 negotiable notes of the County of Cabarrus <br />is hereby authorized, which notes shall be designated <br />"Public Building Bond Anticipation Notes", shall be dated <br />June~27, 1978, shall mature on November 29, 1978, without <br />option of prior payment, and Shal-l'bear interest at a rate <br />to be determined by the Local Government Commission at the <br />time the notes are sold, which interest shall be payable <br />at the maturity of the notes to which no interest coupons <br />shall be attached. Said notes.shall be payable as to both <br />principal and interest at such bank or trust company, shall <br />have such denomination or denominations and shall bear such <br />number or numbers as may be fixed by the Chairman after the <br />award of"%he notes by the Local Government Commission, and <br /> <br /> <br />