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537
<br />
<br /> WHEREAS, upon the receipt of said resolution passed on September 22,
<br />1986, requesting a private sale of said bonds, the Local Government Commission
<br />of North Carolina determined that it is in the best interest of said District
<br />to sell said bonds to the United States of America, Farmers Home Administration
<br />upon the terms contained in said Loan Agreement and offered and sold said
<br />bonds to said purchaser without advertisement and upon such terms, subject to
<br />the approval of the Board of Commissioners for Cabarrus County, North Carolina,
<br />as the governing body of said District; and
<br />
<br /> WHEREAS, the Board of Commissioners for Cabarrus County, North Carolina,
<br />as the governing body of said District, has determined that it is in the best
<br />interest of said District to accept the offer of the United States of America,
<br />Farmers Home Administration to purchase said bonds upon the terms contained in
<br />said Loan Agreement; now, therefore,
<br />
<br /> BE IT RESOLVED by the Board of Commissioners for Cabarrus County, North
<br />Carolina, as the governing body of the Water and Sewer District of Cabarrus
<br />County, as follows:
<br />
<br /> Section 1. The offer of the United States of America, Farmers Home
<br />Administration to purchase the $7,271,000 Water Bonds of the Water and Sewer
<br />District of Cabarrus County, provision for the issuance of which was made by a
<br />resolution passed by the Board of Commissioners for Cabarrus County, North
<br />Carolina, as the governing body of said District, on September 22, 1986, upon
<br />the terms contained in the Loan Agreement mentioned in the preamble of this
<br />resolution is hereby accepted and approved and the sale of said bonds by the
<br />Local Government Commission of North Carolina to the United States of America,
<br />Farmers Home Administration upon such terms is hereby approved.
<br />
<br /> Section 2. This resolution shall take effect immediately upon its
<br />passage.
<br />
<br /> Thereupon Commissioner Hamby moved the passage of the foregoing resolution
<br />entitled: "RESOLUTION APPROVING THE SALE OF $7,271,000 WATER BONDS OF THE
<br />WATER AND SEWER DISTRICT OF CABARRUS COUNTY BY THE LOCAL GOVERNMENT COMMISSION
<br />OF NORTH CAROLINA", and Commissioner Barnhardt seconded the motion and the
<br />resolution was passed by the following vote:
<br />
<br />Ayes:
<br />Noes:
<br />
<br />Commissioners Hamby, Barnhardt, Payne, and'Upright and
<br />Chairman Lentz
<br />None
<br />
<br /> I, Frankie F. Small, Clerk to the Board of Commissioners for Cabarrus
<br />County, North Carolina, DO HEREBY CERTIFY that the foregoing has been care-
<br />fully copied from the actually recorded minutes of a special meeting of said
<br />Board held on September 25, 1986, said record having been made in Minute Book
<br />No. 19 of said Board, beginning at page 536 and ending at page 537, and is a
<br />true copy of so much of said minutes as relate in any way to the sale of
<br />$7,271,000 Water Bonds of the Water and Sewer District of Cabarrus County.
<br />
<br /> I DO HEREBY FURTHER CERTIFY that the Chairman of said Board duly notified
<br />or caused to be notified each member of said Board of said meeting and that,
<br />at least forty-eight hours before said meeting, notice of said meeting, signed
<br />by the Chairman of said Board and stating that a special meeting of said Board
<br />would be held at 5:00 P.M. on September 25, 1986 in the Commissioners' Meeting
<br />Room of the County Courthouse in Concord, North Carolina, concerning the
<br />passage of a resolution providing for the approval of the sale of $7,271,000
<br />Water Bonds of the Water and Sewer District of Cabarrus County, North
<br />Carolina, was posted on the principal bulletin board of said Board and mailed
<br />or delivered to each newspaper, wire service, radio station, television
<br />station and person that had filed with me a written request for notice pursuant
<br />to G.S. §143-318.12.
<br />
<br /> WITNESS my hand and the corporate seal of said District, this 26th day of
<br />September, 1986.
<br />
<br />/s/ Frankie F. Small
<br />
<br />Clerk to the Board
<br /> of Commissioners
<br />
<br />
<br />
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