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:y <br />~ 4 ~. ,. .. ~ i..~tsr <br />The Chairman opened the floor to comment on the band issue. <br />Commissioner Barnes submitted a letter from the Council on Aging <br />expressing its support of a Senior Center to be part of the <br />Northside Multipurpose site. A copy of this letter is attached ' <br />hereto and thereby a part hereof. <br />Mr. Stuart Barbour stated he did not know whether 1-.e was in -- <br />favor of the bond issue but that he had not came to speak against <br />it. He requested and received clarification from the >roard on <br />whether the bond issue was to be voted on item by item, whether <br />each item could be accepted or rejected, who would be handling <br />the money, whether North Carolina has defaulted on any of its bonds, <br />where the money would be going and how much the pay back would be. <br />He expressed his concern about the country going deeper in debt. <br />He requested the Finance Officer submit to trim by letter the following: <br />clarification of the amount of money to be approved on November 6th <br />including the estimated attorney fees and broker commissions which <br />would be subtracted fx'am the bands and showing all other amounts to <br />be subtracted sa that the total would be known to the citizens; elari•...- <br />fication an pay back the first year, peak year and all other years; <br />haw much is interest and haw much is principal for each year's <br />repayment; how much is the amount of the tax increase. <br />Mx. Ben Lloyd stated he had children in the Orange County school <br />system and he was not negative about all. things in the band <br />referendum: He asked whether the Board had plans to o)~tain money <br />to operate the'County government from any other source than property <br />taxes. He asked whether a successful bond issue actually provided <br />for borrowing the amount of money needed He asked how the money <br />would be repaid and whether there was an annual statement of repay- <br />ment and where the money would come from. He asked what security <br />was offered to secure the bond issue and whether every registered <br />voter in Orange County could vote. iie asked whether the property in <br />Orange County would stand far the bond issue and then questioned <br />the cvnstitutianality of the bond issue on the basis of discrimination <br />against the property owners. <br />_z_ <br />