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369
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<br /> UPON MOTION of Commissioner Payne, seconded by Commissioner Melvin and
<br />unanimously carried, the Board approved the pay for members of the Board of
<br />Commissioners as recommended.
<br /> UPON MOTION of Commissioner Melvin, seconded by Commissioner Hamby and
<br />unanimously carried, the Board accepted the budget for the County Manager's
<br />Office as recommended.
<br /> The Board requested additional information regarding the equipment
<br />requested by the Printing Department.
<br />Chairman Lentz arrived and was present for the remainder of the meeting.
<br />Motion made by Commissioner Payne and seconded by Chairman Lentz to
<br />allocate $5,000.00 for part-time help in the Tax Collector's Office for
<br />1988-89 and to delete the requested full-time position in the Line Item
<br />Account 101 failed with Commissioner Payne and Chairman Lentz voting for and
<br />Con~nissioners Hamby, Melvin, and Moss voting against.
<br /> UPON MOTION of Commissioner Payne, seconded by Chairman Lentz with
<br />Commissioners Payne and Melvin and Chairman Lentz voting for and Commissioners
<br />Moss and Hamby voting against, the Board approved the allocation of $3,033.00
<br />for part-time help in the Tax Collector's Office and deleted the requested
<br />additional fulltime position.
<br /> Chairman Lentz reopened the meeting of the Board of Commissioners for the
<br />Water and Sewer District for a joint meeting with the Board of Commissioners
<br />of Cabarrus County.
<br /> The Chairman announced that this was the hour and day fixed by the Board
<br />for the public hearing upon the order entitled: ORDER AUTHORIZING
<br />$7,271,000.00 REFUNDING BONDS" and that the Board would immediately hear
<br />anyone who might wish to be heard on the questions of the validity of said
<br />order and the advisability of issuing said bonds.
<br /> No one appeared, either in person or by attorney, to be heard on the
<br />questions of the validity of said order and the advisability of issuing said
<br />bonds and the Clerk to the Board announced that no written statement relating
<br />to said questions had been received.
<br /> Thereupon, upon motion of Commissioner Hamby, seconded by Commissioner
<br />Payne and carried, the order introduced and passed on first reading on May 9,
<br />1988, entitled: "ORDER AUTHORIZING $7,271,000.00 REFUNDING BONDS" was amended
<br />by inserting after the words "Board of Commissioners", the words "for the
<br />County of Cabarrus, North Carolina, as the governing body" and, as so amended,
<br />was read a second time and placed upon its final passage. The vote upon the
<br />final passage of said order was:
<br /> Ayes: Commissioners Lentz, Payne, Hamby, Melvin & Moss
<br /> Noes:
<br /> The Chairman then announced that the order entitled: "ORDER AUTHORIZING
<br />$7,271,000.00 REFUNDING BONDS" had been adopted.
<br /> The Clerk to the Board was thereupon directed to publish said order,
<br />together with the appended statement as required by The Local Government Bond
<br />Act, as amended, once in The Concord Tribune, Concord, N.C., and once in The
<br />Daily Independent, Kannapolis, N.C., a newspaper qualified and used for legal
<br />publications of said District.
<br /> Thereupon, Commissioner Hamby introduced the following resolution:
<br />
<br />RESOLUTION PROVIDING FOR THE ISSUANCE
<br />AND PRIVATE SALE OF REFUNDING BONDS
<br />
<br /> BE IT RESOLVED by the Board of Commissioners for the County of Cabarrus,
<br />North Carolina, as the governing body of the Water and Sewer District of
<br />Cabarrus County, North Carolina:
<br />
<br /> Section 1. Findingst Determinations and Declarations. It is hereby
<br />found, determined and declared as follows:
<br />
<br /> (a) The Board of Commissioners for the County of Cabarrus, North
<br />Carolina, as the governing body of the Water & Sewer District of Cabarrus
<br />County, North Carolina (the "Issuer") has determined to participate in a
<br />program, known as the "NC Consolidated Program," developed by the North
<br />Carolina League of Municipalities, the North Carolina Association of County
<br />Commissioners and the Local Government Commission of North Carolina (the
<br />"Local Government Commission") to assist municipalities, counties and special
<br />districts in purchasing at a discount and cancelling their bonds now owned by
<br />the Farmers Home Administration ("FmHA"). (b) In accordance with FmHA re-
<br />quirements, the Issuer has paid to FmHA a good faith deposit in the amount of
<br />5% of the outstanding principal balance of the bonds of the Issuer now held by
<br />FmHA which the Issuer intends to purchase (the "5% Good Faith Deposit"). The
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