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June 16, 2014 (Regular Meeting) <br />Not Voting: [None.] <br />Page 2081 <br />Thereupon the Finance Officer filed with the Clerk to the Board, in the <br />presence of the Board, the sworn statement of debt and the statement of <br />estimated interest with respect to the bonds, respectively. <br />The Chairman introduced the following order authorizing bonds, which <br />was read: <br />ORDER AUTHORIZING <br />$9,000,000 GENERAL OBLIGATION COMMUNITY COLLEGE BONDS <br />WHEREAS, the Board of Commissioners of Cabarrus County (the "Board") <br />has decided to pursue the issuance of general obligation community college <br />bonds in the maximum aggregate principal amount of $9,000,000 under the Local <br />Government Bond Act (the "Act ") to finance, in part, the acquisition, <br />construction, installation and equipping of a new community college facility <br />(Building 4000 - Advanced Technology Center) for Rowan - Cabarrus Community <br />College within the boundaries of Cabarrus County, including acquisition of <br />necessary land and rights -of -way; and <br />WHEREAS, the Board has filed an application with the Local Government <br />Commission of North Carolina for approval of such bonds as required by the <br />Act; <br />BE IT ORDERED by the Board of Commissioners for the County of Cabarrus, <br />North Carolina: <br />1. Pursuant to The Local Government Bond Act, as amended, the County <br />of Cabarrus, North Carolina, is hereby authorized to issue general obligation <br />bonds of Cabarrus County for the purpose of providing funds, together with <br />any other available funds, to finance the acquisition, construction, <br />installation and equipping of a new community college facility (Building 4000 <br />- Advanced Technology Center) for Rowan - Cabarrus Community College within the <br />boundaries of Cabarrus County, including acquisition of necessary land and <br />rights -of -way. <br />2. The bonds shall be in an aggregate principal amount not to exceed <br />$9,000,000. <br />3. The bonds shall be general obligations of Cabarrus County for the <br />payment of principal of and interest on which its full faith and credit shall <br />be irrevocably pledged and taxes will be levied in an amount sufficient to <br />pay the principal of and interest on the bonds. <br />4. A sworn statement of debt shall be filed with the Clerk to the <br />Board of Commissioners pursuant to N.C.G.S. S 159 -55 and be open to public <br />inspection. <br />5. This bond order shall take effect when approved by the voters of <br />Cabarrus County. <br />Commissioner Oesterreich then moved that the foregoing bond order be <br />"introduced," such motion was seconded by Commissioner Measmer, and a vote <br />thereon was as follows: <br />Ayes: Commissioners Measmer, Morris and Oesterreich <br />Nays: Chairman Poole and Vice Chairman Burrage <br />Not Voting: [None.] <br />read: <br />The Chairman introduced the following resolution, and its title was <br />Resolution No. 2014 -15 <br />RESOLUTION CALLING FOR PUBLIC HEARING ON <br />$9,000,000 GENERAL OBLIGATION COMMUNITY COLLEGE BONDS; PROVIDING <br />FOR NOTICE OF SUCH HEARING; AND PUBLICATION OF BOND ORDER AS <br />INTRODUCED <br />WHEREAS, there has been introduced by the Board of Commissioners of <br />Cabarrus County (the "Board ") a bond order entitled "ORDER AUTHORIZING <br />$9,000,000 OF GENERAL OBLIGATION COMMUNITY COLLEGE BONDS "; and <br />