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304 <br /> <br />of payment, is legal tender for the payment of public and private debts. <br />For the prompt payment hereof, both principal and interest as the same <br />become due, the full faith and credit of said District are hereby <br />irrevocably pledged. <br /> <br /> This note is given for money borrowed in the amount of the face of <br />this note in anticipation of the receipt of the proceeds of the sale of <br />a like amount of Water Bonds duly authorized by an order adopted by <br />the Board of Commissioners for the County of Cabarrus, as the governing <br />body of said District, on January 16, 1984, which order was approved by <br />the vote of a majority of the qualified voters of said District who voted <br />thereon at a referendum duly called and held, and this note is issued <br />pursuant to and in full compliance with Article 6, as amended, of Chapter <br />162A of the General Statutes of North Carolina, The Local Government Bond <br />Act, as amended, Article 9, as amended, of Chapter 159 of the General <br />Statutes of North Carolina, and a resolution duly passed by the Board of <br />Commisioners for said County as the governing body of said District. <br /> <br /> It is hereby certified and recited that all acts, conditions and <br />things required by the Constitution and laws of North Carolina to happen, <br />exist and be performed precedent to and in the issuance of this note have <br />happened, exist and have been performed in regular and due form and time <br />as so required and that the total indebtedness of said District, including <br />this note, does not exceed any constitutional or statutory limitation <br />thereon. <br /> <br /> IN WITNESS WHEREOF, the Water and Sewer District of Cabarrus <br />County, in Cabarrus County, North Carolina, by resolution of the <br />Board of Commissioners for the County of Cabarrus as the governing <br />body of said District, has caused this note to be signed by the <br />Chairman of and the Clerk of said Board of Commissioners and the <br />corporate seal of said District to be affixed hereto, all as of the <br />1st day of October, 1985. <br /> <br />/s/ James W. Lentz <br />(Manual Sisnature) <br />Chairman of the Board of <br /> Commissioners <br /> <br /> /s/ Frankie F. Small <br /> (Manual signature) <br /> Clerk to the Board of <br /> Commissioners <br /> <br />(To be endorsed upon reverse of notes) <br /> <br />Local Government <br />Commission Serial No. <br /> <br /> The issuance of this note has been approved under the provisions <br />of The Local Government Bond Act of North Carolina. <br /> <br /> John D. Foust <br /> Secretary, Local Government Commission <br /> <br /> By (Manual signature) <br /> Designated Assistant <br /> <br /> Section 4. The action of in applying <br />to the Local Government Commission of North Carolina to approve, advertise <br />and sell said notes is hereby ratified and confirmed and the actions of <br />the Local Government Commission of North Carolina in asking for sealed <br />bids for said notes by publishing a notice and printing and distributing <br />circulars relating to the sale of said notes, are hereby approved, <br />ratified and confirmed. <br /> <br />Section 5. This resolution shall take effect upon its passage. <br /> <br /> <br />