HomeMy WebLinkAboutMinutes - 19410519~ t~
AcJ ou sasH '_.es ti n3 of the Hoerd =..~ay 19- S9SI
An adjourned regulsr meeting of the Heard of Commissioners far the County
of Orange convened at the County Courthouse Sn H1115boro, the reguler place of
meeting, at 10 o'clock A, M., rsay 19, 1941.
~.?resent; Chairman J. E. Lavrs and Commissioners Hen F. X411 son
Absent: Collier Cobb, Jr.
The Ch airmsn announced that this was the date and hour fixed by the Hoerd
for the public he a.ri ng upon the follorrl ng oond order:
OADEA 9UTHORI ZING 535,000 SCHOOL HUTLDIP:G RONDS
and that the Board would. immediately hear. any and all citizens and texpeye rs
who ml ght de sSre to protect egal nst the Sssu en ce oS seid 'oond s.
No citizen or taxpayer of the County appeared, either in per=_on or by
attorney, to protest egein st the issuance of any of =_a id 'oo nd s, and the Clerk
announced that no protest Sn wri tine signed "oy say cl ti zap or taxpayer has be
presented.
The reunon, upon moll on of Commis ei ~~er 1711 =_on seconded 'by C.ommiss inner L
and cerrled, .the order introduced and passefl on first reading on Me.y 5, 1941,
authors zing 535,000 School Huildinc Hond s, we=_ read a second time and placed
Sts fin el pa _sage. The vote upon tY,e fi n¢1 pe sage of ssld order vies:
Ayes; J. E. Laws, Hen F. 1411 son
Noes: tdone
The Ch al rman then announced that the order authorizing $35,000 School ~~i
Bui ldl ng Bond.s Y.es pesse d. .. '~,
The Clerk was the reunon directed to publ Seh in the Naws, once in each of '
two su cce ss!.ve week=_, the bond order which haft been finally passed this day, an
to publish at the foot of said order the appended Hots as re ou Sred by .Section ~,,
19 of the County Finance Act.
' Thereupon Commissioner 'ililson introduced the follo::•ing re =_oluti on, vg±ch '~..,
wee read; I,
Ci.HGLUTiON ?ROViD ING FOA T}iE ISSUANCE OF $35,000 SCHCOL HIiiLDING 30117;5 ~'..
HE iT AESOLV~D 'oy the Bo end of Commissioners for the County of Orange: ',
Sec lien 1. That the Hoard of Commissioners, after careful eon si deration, ',
has escert ai ned and found and does he re'oy declare: '..
(a) That it Ss Smmedl ately necessary that Orange County, cell ng as an ad-',
mini stratlve ege nt of the State 1n prov?ding a Stets system of publ lc school s, '
issue all of t`.ve $35,000 School. Ho Slding Bonds authorized by an order finally I,
passed May 19, 1941 for the purpose of providing cert alp school improvements in
said County. -
(b) That the school building and the ad ditSon to be erected pursuant to said
order aha11 'oe of pan-fi reproof co nstructl on as defl ned in the County Finance let
(c) That the period of the life of said 'ou'.lding and addition to be provi
ded Sn accordancw with seld order has been and is estSmat ed by this Hoard es a1
period of thirty years, said pegs od 'oe ing competed from iiby 19, 1942, being a
date one year after the final oa seaee of said order.
Section 2. That for the nurpo se of providing the school improvements Sn ~
accordance :;1 th slid order, vinleh Smnroveme nts have become ebe Dials ly ne cessaryj
in order to maintain the constitutional six months' school term as required by'
the Ht ate system of public schools, the re gotiable coupon ba^ds of Orange
County shall be i=_sued in the aggregate prin ci Dal amount of $35,000 designated
"School Bui ldl ng Bonds", consisting of 35 bonds of the denominet ion of $1,000
each, numbered 1 to 35, inclusive, detect June 1, 19L1, and me.turing annually,
June 1, in numerical order, love st nurabe rs first, without option of prior pay-
ment, as follows:
$3,000 1942 to 1952, inclusive, and $2,000- 1953•
Section 3. That said School Hul lding Hoods shall 'Dear interest at e rate)
or rates not erceeding 6= per annum to be determined by the Local Government
Commission at the time the bonds are so lfl, which interest shall be payable
semi-annually on the first deye of June and December of eech ye er, 'ooth prircinal
and interest to be pays'o1e at the CENTRAL HsSiOVEA BAtiri ,k TRUST CGLL=A;IY, In i
New York City, in any coin or currency of the United States of America, which '~,,
(CONY iuJED)
r .y t
tt:
AT the respective dates of payment thereof, is le gel tender for p13G11C Hd
prlVe.tE dP.nt 6,
Se ctlon 4. That said Schcol Hul lding Bonds shell 'be =_igned by the Ciai rman
of the Board of CommlESl onsrs and the Register of ?reeds and ex of__*SC1o Clark
of seid Board, and sealed ^. ith tie Corporate seal of the County, and the in-
terest coupons thereto attached 6h 0.11 'n P, ere cu tad wG th the facsimile sign etu*e
of said Register of -ee dse.nd ex officio Cie rk. ~9a1d 'co nds and the couponE~~
attached thereto and the endorsement=_ to 'oe pr ir.tafi upon the rev sr ee thereof
shall ~ Sn sui: Etsntie lly~the following foim;
No. 51,000
USJITED STATES OF AiaEAICA
STP.TE OF NG TR CA?.GLP(A
COUNTY GF ORkNGE
SCROLL =UILDItJG HOND
The County of Oranga, in the State of North Carolina, Ss Justly rode hied
and for value re ce iced he re'oy proml5e=_ to peY to the 'Dearer or, Sf this bond
'oe registered, to the real_te red ov+nez her=of, on the first day oT June, 14 _
the prl ncipal sum of
ONE TACllSA;dD DOLL.435
tcgether with in to?'e st th er ion at the rate of per canton per ernum, pays b:
semi-annually on the first days of Juns anti De can oar of each year, upon the
pre eentatlon and surrender of the enne red interest coupons as they save rel'_y
become flue. Both nri ne Snal and rote ro-st of this bo rd are payable at tie
C5e5Tiv=?, RF.teO`!~A HA;v!! Asti T?UST CGii?1.1tY, In Nev: 'lork C!ty in any coin or curren~
of the Un it afi States of America, r:hlch et the respective dated of payment
thereof, 1=_ legal to rder for public end prlrate de'ot s, For the prompt payment
hereof both prlnci pal andlr.te re st es tie sane shall fall due, the full f_1 th
end credit of said County are hereby irrevocably pledged.
This bond Ss one of a se rleE issued 'oy said County, =_cting aE en edmini=_-
tratlve agent of the State of North Cerolin e. in provi dinv_, a Ste to system of
public schc of=_, far the purpose cf erecting e Echool 'ou11d1 rag and an andit~
to a school 'ovSldln~ Sn seid County Sn order to main tai r. schools in Ea1d.
County Sor the constituti onel six months' school term, and t.*.SS bond SE SE=u ed
under and pursuant to the County Finance Het, as amended, and the Loc el Govern
ment Act, es arse nded, and an order and a resolution duly pe saed by the 3oard,
of Commi=_si onsrs for =_aifi County.
It is hereby ce rtifled end recited that ell ¢ct s, co nditione anfi thi rgs
reeui red to happen, ex1 _=t and be pe rfarmed precedent to a.nd in the Sssusnce of
this 'oond 'oy tie laws end Coh stl tutlon of Nc rth Carolina, have happened, eri ..=.t
anfi have been performed in re guler end due form srd time as so recui re d; tiet
provi <1 on has been made for the levy e.nd coils cii on of a direct annual tax
upon, all tarable'pmp=.rty wl thin said county sufficient to nay the principal
and in to rest of this 'oond as tY.e same shall. fail due; and that tY.e total ir.-
debtednesa of sa Sd County, includ inc thi=_ bond, and all other Snde'otedne ss
he re tofcre contracted during the fiscal year Sn v;hich th±s bond is issued, d.oe:
not exreed any con=_titutio nal or statutory 11x1±etton thereon.
This 'oond Ss re gi ate rab'_e as to principal along Sn ecc ordance v:1 th tie
provisions endorsad hereon.
IIV yJITNESS ."!HEREOF, saifi County of Oran 4e has cau eed this 'oond to be
signed by the Chairmen cf the Hoard of Ccmml sEi onsrs anfi 'oy the Regi star of
Deeds and ex officio Clerk cf said Board, under the corpora to seal of said Coin
gnu has cau sad the annexed Snte re st coupon= to be executed with the facsi mil=
signature of said Aeg,l seer of Deeds end er. of fl eto Clerk, all as of the first
day of June, 19'-1.
rs
star OT' JP.ed6 ens eY, o
Board of Comm is si or,ers
(ENDOR5-6iT: i~'T5 ON HOGIDS)
This bond may be registered es to prlncl pal in tha Hond Register cf
Orange County by the Treasurer of seid County es Bond Registrar, or 'oy =_u eh
other Hond Registrar as may 'oe 1e gaily a;c of rated 'oY the Bove rains body of said
County, nct at ion of ouch re g3 =_try to be made hero on by such Eond Ae gi=_trar and
this bond may tte re after 'oe trer.sferred on seid Hond Aegis ter only anon a
nmitten ass! gnment of tY.e regi ste red owner or his attorney duly acl:n owls deed
or proved, such transfer to be endorsed hereon by t..*,e Hond Ragletrer. Such ,
transfer may 'oe to bearer and th ere'oy tran sferab111 ty 'oy delloe ry Eha11 'oe re'-
stored., but this bend shall aeain 'oe suo,je et to successive regi atratlens and
(Cr;;TI!7i ~D)
11'%
trsn sf er=_ as before. The pri ncl pal of this 'Donn, if registered, shall 'oe naya'.
only to the re 3l stared o~x^.er or his 1e 3a1 re pre septa t?ve. Notn~i th star.<,SnS the
registration of this 'oond, the cc unans shall rema!n payable to bearer and sha:
continue to 'oe trap sf.=.reble by delivery.
DP_I~ CF REGISTRY P~GZB T°.=^D G'ANEn HCi:D P.EGIHTP.AR
The issuance of the within oond has been a:,proved under the provi sic ns of
the Local Government Act of North Carolina.
t4, E. Eas terlin3,
Se cretnry, Local Government Commission
By
Designated Assistant
(CCUPCN)
1iC.
Cn 1, 19 _
The County of Oran 3e, Ncrth Carolina, will pay to bearer at Central Hanow
Hank andTru st Company in New York City, the sum of
Dollars in any coin or currency of the United States of Ameri ce vrhich at the
time of payment is ie gal tender for publ lc and private debts as prov iced in an
for the interest then due on Sts School Building Hond, dated June 1, 19'<1,
nurc ne red
er or use cs anc ex o*_n ci
of Board of Comm? seioners
section 5. That said Sch eol Hui lding 9onds s'nall 'oe re gists rable as to
principal alone in ace orda_nce wl th the provisions for such re 3l strati on herein
above in this resolution provided to be endorsed upon sold 'oond s, and that
the County Treasurer Se hereby de sl<-nated Bond fie3l strar for the porno ses of =
reef =_tratt or., suh,J act to the right of the Board of Commissioners hereafter to
de si eriate another Hond Registrar. No charge s`:a 11 be made to any 'oonaholder
for %he uri vi le ge of registration heroin granted,
Sec tl on 6. Thp.t the County Accountant ie hereby directed to re ova st t*:e
Local Government Comm isslon to adve rt ies end sell =_aid bonds.
Upcn motion of Comm 1_=si oner 1711san seconded by Commissinn ar Lae;s, the
Yore goin3 resolut lcn entitled "Resolution prnvldlna for tY~ issuance of 3,=,5,00
School Huildine Bond e" was adopted 'oy the Poll ossi ns vote:
Ayes: J. ~. L¢ws, Ben 9. 'Nil=_on
Noes: None
I HEREBY CERTIFY that t're foregoing is s true copy of so much of the pro-
ceedings of the Boarn of Commissioners for the County of Cran3e at an adlounrr.
regular meeting thereof held iday 19, 1941, as relate Sn any way to the author-
ization of ponds of said County and th¢t such proceedings are recorded !n
Volume S of t'r_e mlmaes of =_aid Board, beginning at page //~- and ending
at page ~(7i
YIITNESS my hand and the seal of said County, this ~ coy of Way, 1941.
Ae gists r' of D~~?ein
u'le rk of tP:e BO Prd o_° Comm!=_sioner
d
, i