HomeMy WebLinkAboutMinutes - 19520616
An adf Darned regular meeting of the Board of Commi sal onere for the County
of Orange, North Carol ins, convened at the Courthoua a, in H111aboro, North
Carolina, the regular place of meeting, at 9:00 b'cloCk A. td., do Jvne.16, 195
Present: Chairman Collier Cobb, Jr., and Commie si Deere R. 0. Forrest and
Sim L. Eflend.
Absent: None.
Commi saioner Forreet introduced the following resolution which was read:
RESOLDTION REPEALING A RESOLUTION PASBID ON MAY S, 1952
ENTITLED: ^RESOLIITION PRO~Z DING FOR TAE ISSIIANCE OF
$250,000 COIIRTHOUSE BOND ANTICIPATION NOTES"
I BE IT RESOLVED by the Board of Commis sl oners for the County of Orange:
Section 1. That a resolution pesaed on 64ey 5, 1952 entitled: "RESOLtPPI ON
PROVIDING FOR TBE ISSIIANCE OF 6250,000 COIIRT30IISE BOND ANTZCIPATI ON NOTES" be
and the same is hereby repealed.
Section 2. That this resolution shall take effect upon its passage.
Commi saioner Forrest moved the passage of the foregoing resolution en-
titled: ^RESOLDTION REPEALING A RESOLUTION PASSED ON MAY 5, 1952 ENTITLED:
'R^.SOLB120N PROVIDING FOR TAE ISSIIANCE OF 6250,000 COURTHOIISE BOND ANTICIPATION
NOTES" and Commie eioner Efland seconded the motion end the rasoluti on was
passed by the following vote:
Ayes: Commies loners Cobb, Forreet and Eflend.
Noe e: None
An adf ovrn ed regular meeting of the Board of Commi ssionere for the County
oT Orange, North Carolina, convened at the Courthouse, in Hillsboro, ]lorth
Carolina, the regular plaoe of meeting, at 9:00 o'clock A. M., on June 16, 1952
Present: Chairman Collier Cobb, Jr., end Commisai onere R. 0. Forreet and
Sim L. E11 and.
Absent: Nona.
C ommlasloner Efland lntroduc ed the following resolutl on which was read:
RESOLDTION PROVIDING FOR THE ISSIIANCE OF 6250,000 COIIRT-
HOIISE BOND ANTICIPATION NOTES DATED SONS 20, 1952.
BE IT RESOLVED by the Hoard of Commiael onere for the County of Orange:
Section 1. That the Board of Commisai onere has determined end does hereby
find and declare:
(e) That an order authorizing 6250,000 Courthouse Hoads wee finally passed
on October 17, 1949, which order w¢a approved by the vote of a maf ority of the
qualified voters of said County who voted thereon at an election duly called
and held on November 22, 1949•
(b) That none of the said bonds has been Ss sued end no not as are outstand-
ing which mere issued Sn anticipation of the eels of said bonds.
Section 2. That in order to anti clpate the re colpt of the pro coeds of a
like amount of said Courthouse Bonds, a temporary loan of 6250,000 is hereby
authorized to be avi denc ed by nego tlable notes of the County of Orange de~ig-
nated ^CoUrthouse Bond Anticipation 14otes^, which notes shell be dated June 20,
1952. shall mature on Deoember 20, 1952, without option of prior payment, and
shall bear inter set at a rate to be determined by the Local Government Commis-
sion at the time the notes are sold, not exceeding by per annum, which interoat
shall be payable at the maturity of the notes, to which no interest coupons
shall be attached. Said notes shall be payable as to principal and interest
at each bank or trust comoemy, shall have such deaominati ono and bear such
numbers, ae may be fixed by the Chairman of the Board after the award of the
not ea by the Local Gov ernmsnt Commie eion.
Section j. That said notes shall be signed by the Chairman of the Hoard
of Commis ei onere and by the Register of Deeds ¢nd ax officio Clerk of said
Hoard, under the Corporate seal of acid Board, and shell ha va endorsed thereon
the written approval of the County Attorney, and the form of said notes shall
be substantially as follows:
No.
IInited States of America
State of North Carolina
6~_
COUNTY OF ORANGE
43~
Courthouse Bond Anticipation Note
The County oT Orange, North Carolina, Ss wstly Indebted and for value
received hereby promisee to pay to the bearer on the 20th day oP December,
1952, the principal sum oS
DOLLARS
and to pay inter est thereon from the date hereof at the rate of __ per
centum per annum, payable upon the pre eentati on and surrender of this note at
its maturity. Both the pria cipal of and the interest on this note are pay-
able at the in the City of
, For the prompt payment hereof, both
principal end int eraet ea the same fall due, the full faith and credit of said
Covntg of Orange are hereby irrevocably pledged.
This note 1a issued by said County in anticipation of the receipt of the
proceeds of a like amount of Courthouse Bonds duly authorized by as order
finally passed on October 17, 1949, which order was approved by the vote of
a ma~orltp of the quali£iad ootere of said County who voted thereon at an
ela etion duly called and held, and this note Ss issued pursuant to and ip full
compliance with The County Finance Act, sa emended, and the Local Government
Act, ea emended, and a resolution duly passed by the Board of Commis si ones
for said County.
It is hereby certified and recited that all acts, conditions and th iags
required to happen, exist and be done by the laws and Conatltutlon of North
Carolina precedent to and in the issuance of thin note have happsnsd, axi et
end have been done in regular and due form and time ea so required, and that
the total indebtedness of said County, lnc luding this note, does not exceed any
constitutional or statutory limitation thereon.
IIi l7ITiiE SS {YfR';REOF, said County of Orange, pursuant to said resolution. of
its Board of Commissioners, has c¢used this note to be ai gned by the Chsirman
of geld Bonrd and by the Register of Deeds end ax officio Clerk of said Board,
under the corporate seal of said Board, all ea of the 20th day of June, 19$2.
Chairman of Hoard of Commissioners ~-~
Register of Deeds sad ex officio
Clerk of Board of Commis al onars
Tho issuance of the within note is hereby approved.
County Attorney
(To be endorsed upon raver ae of not ea)
Local Government
Commission Serial No. .. ,.
The issuance of this note has been approved under the provisions of the
Local Government Act of North Carolina.
{Y. E. EASTERLING, Secretary
Local Government Commie ei on
By
Designated ssis tent
Sscti on 4. That the action of the County Attorney in applying to the
Local Government Commission to advertise end sell said notes, and the action of
the Local Government Commie Sion in asking Por sealed bids for said notes (by
publishing a sale notice and printing and diatribut ing circulars), be and the
same are hereby ratified and confirmed.
Commissioner Efl and moved the pa esage of the Sorego ing resolution entitled
"RESOLDTION PROVIDING FOR THE ISSIIANCE OF 5250,000 CODRTHONSE BOND ANTICIPATION
NOTES DATED JDIIE 20, 1952" and Coarmis sinner Forrest seconded the motion and the
reaolut ion mae passed by the following vote:
Ages: Commie sinners Cobb> Forrest sad Efland.
Noes: None.
IIpon motion, duly made and seconded, the following pe titione were
and ordered sent to the State Highway and Public Ylorks Commission, for
c onsideratlon.
L
Road in Cha eke Township, running fmm the Standard 011 Co. Bulk
Plant Road to the Paved Old Stage Road. Longth of road: .25 mi.
Road in Cha eks Township, running from Highway I4o. 70 to Highway
No. 70, and known as the IdcDada Road, near the Efland Colored
School. Length of road: .75 mi.
Road is Cheeks Township, off Highway m522 on the Southrrest edge
of Efland. Length of road: .50 mi.
Road in Cheeks Township, running from Old Highway .'~10 to the
property of Hill Lface, end known ea the Riley Road. Length
of road: .45 mi.
Road in Hillsboro Township, running East by 7 houses to road
back of Fairview Station, and known ee the Forrest Road. Length
of road: .25 mi.
'toad in Hillsboro Township, running from Highway No. 70 to the
F¢uce tt iSill Road. Length of roed: .35 mi.
Roed in Chapel Aill Township, running from Greenwood Road to the
Old tSill Road, and known as the Stege Coe ch Road. Length of
road: .20 mi.
Road in Chapel Hill Township, runniag from the Releigh Raed
(Highway No. 54). and knocm ¢s 0¢kwood Drive Extension. Length
of road: .25 mi.
Road Sn Chenel Hill ~Townehin, running from the Liorgen Cra alt Hoed
to the Dead End Circle, and known ae Gaoae Neck Road. Length of
road: ,15 mi.
Road in Chapel Hill Township, running from Lierritt Will Road to
Rnolla Road. Length of road: .65 mi.
Road in Chapel Hill Township, runniag fY~om Jones Ferry Road at
Neville's Chapel annroximately 1 mile East, and Itnown ¢s the
Neville's Chapel Roed. Length of road: .9 m1.
Road in Hingham Townahin, running from the Antioch Roed, North
to L7ra. Idore Brewer's. Length of rca d: .6 mi.
There being no further bue ineas, upon motion, edJourned, to meet Lionday,
23, 1952, at 10 o~clock A. M.
J. E. Lowe
Clerk to Board
Collier Cobb, Jr.
Chairmen of Board
~C3.7
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