BC 2014 07 21 Regular Meeting - Laserfiche WebLink

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July 21, 20I4 (Regular Meeting) Page 2126 with Proceeds of Debt Pursuant to United States Department of Treasury Regulations. Resolution No. 2014 -18 At 8:31 p.m., the Chairman convened a public hearing with respect to the bond order introduced before this Board on June 16, 2014, concerning the issuance of $11,000,000 General Obligation School Bonds of Cabarrus County pursuant thereto. After discussion as summarized in Exhibit A, the hearing was closed at 8:31 p.m. After consideration of the public hearing, Vice Chairman Burrage, moved to approve the adoption of the bond order entitled: ORDER AUTHORIZING $11,000,000 GENERAL OBLIGATION SCHOOL BONDS Commissioner Measmer seconded the motion and the bond order was passed and adopted by the following vote: Ayes: Chairman Elizabeth F. Poole; Vice Chairman Larry M. Burrage and Commissioners Christopher A. Measmer and Jason A. Oesterreich Nays: Commissioner Stephen M. Morris Not Voting: [None.] Chairman Elizabeth F. Poole introduced the following resolution, and its title was read: RESOLUTION CALLING FOR REFERENDUM ON ORDER AUTHORIZING $11,000,000 GENERAL OBLIGATION SCHOOL BONDS, PROVIDING FOR NOTICE OF SUCH REFERENDUM AND PUBLICATION OF BOND ORDER AS ADOPTED WHEREAS, the Board of Commissioners of the County of Cabarrus, North Carolina (the "Board ") has today adopted a bond order entitled "ORDER AUTHORIZING $11,000,000 GENERAL OBLIGATION SCHOOL BONDS;" and WHEREAS, N.C.G.S. §159 -58 provides for publication of the bond order as adopted; and WHEREAS, N.C.G.S. §159 -61 requires the Board to fix the date of the referendum on the bond order, notify the Board of Elections thereof and provide for notice of the referendum to be published; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS FOR THE COUNTY OF CABARRUS, NORTH CAROLINA: 1. The Clerk to this Board shall cause the bond order, with a statement appended in form described by N.C.G.S. §159 -58, to be published once in The Independent Tribune 2. The Board hereby calls for a referendum with respect to the bond order and fixes the date thereof as November 4, 2014. 3. The form of the question on the ballot shall be as follows: "Shall the order authorizing up to $11,000,000 of General Obligation School Bonds of Cabarrus County, plus interest, for the purpose of providing funds, together with any other available funds, to finance the acquisition, construction, installation and equipping of a new public elementary school to replace the existing Royal Oaks Elementary School, including acquisition of necessary land and rights - of -way, and providing that additional taxes may be levied in an amount sufficient to pay the principal of and interest on the bonds, be approved? C ] YES [ ] CIO" 4. The Clerk to the Board shall mail or deliver a copy of this resolution to the Cabarrus County Board of Elections by July 24, 2014.