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377
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<br />recommended by the Planning and Zoning Commission. The Concept Development Plan
<br />submitted for the property is hereby included by reference and is on file in the
<br />Office of the Register of Deeds.
<br />
<br />Introduction of Bond Order for Refunding Bonds
<br />
<br /> UPON MOTION of Commissioner Barnhart, seconded by Commissioner Fennel and
<br />unanimously carried, the Board adopted the following Order with the public
<br />hearing scheduled for 5:45 P.M. on September 7, 1993:
<br />
<br />Commissioner Barnhart introduced the following order authorizing
<br />bonds which was read:
<br />
<br />ORDER AUTHORIZING $40,000,000
<br /> REFUNDING BONDS
<br />
<br />BE IT ORDERED by the Board of Commissioners for the County of Cabarrus:
<br />
<br />1. That, pursuant to The Local Government Bond Act, as amended,
<br />the County of Cabarrus, North Carolina, is hereby authorized to
<br />issue Refunding Bonds in an aggregate principal amount not exceeding
<br />$40,000,000 for the purpose of providing funds, with any other
<br />available funds, for refunding all or a portion of the following
<br />outstanding bonds of said County (including paying expenses related
<br />thereto):
<br />
<br /> $2,475,000 School Bonds, Series 1980B, dated May 1, 1980 and
<br /> stated to mature on May 1, 1994 to 2000,
<br /> inclusive,
<br /> $15,200,000 School Bonds, Series 1989, dated March 1, 1989
<br /> and stated to mature on March 1, 1994 to 2010,
<br /> inclusive,
<br /> $1,800,000 Technical College Bonds, Series 1989, dated March
<br /> 1, 1989 and stated to mature on March 1, 1994 to
<br /> 2009, inclusive,
<br /> $6,800,000 Water Bonds, Series 1989, dated March 1, 1989 and
<br /> stated to mature on March 1, 1994 to 2009,
<br /> inclusive, and
<br /> $7,200,000 School Bonds, Series 1990, dated August 1, 1990
<br /> and stated to mature on February 1, 1994 to 2010,
<br /> inclusive.
<br /> 2. That taxes shall be levied in an amount sufficient to
<br />pay the principal of and the interest on the Refunding Bonds
<br />authorized hereby.
<br /> 3. That a sworn statement of the debt of said County has
<br />been filed with the Clerk to the Board of Commissioners for said
<br />County and is open to public inspection.
<br /> 4. That this order shall take effect upon its adoption.
<br />
<br /> The Board of Commissioners thereupon designated the Finance
<br />Director as the officer whose duty it shall be to make and file with
<br />the Clerk to the Board of Commissioners the sworn statement of debt
<br />of the County which is required by The Local Govermnent Bond Act, as
<br />amended, to be filed after a bond order has been introduced and
<br />before the public hearing thereon.
<br /> Thereupon the Finance Director filed with the Clerk to the
<br />Board of Commissioners, in the presence of the Board of
<br />Commissioners, the sworn statement of debt as so required.
<br /> Thereupon the order entitled: "ORDER AUTHORIZING $40,000,000
<br />REFUNDING BONDS" was passed on first reading.
<br /> On motion duly made, seconded and unanimously carried, the
<br />Board of Commissioners fixed 5:45 P.M., on September 7, 1993, in the
<br />Commissioners' Meeting Room in the Cabarrus County Governmental
<br />Center in Concord, North Carolina, as the hour, day and place for
<br />the public hearing upon the foregoing order and directed the Clerk
<br />to the Board of Commissioners to publish said order, together with
<br />the appended statement as required by The Local Government Bond Act,
<br />as amended, once in The Daily Independent and The Concord Tribune
<br />not later than the sixth day before said date.
<br />
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