Minutes - 19501030 - Laserfiche WebLink

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3~r The Covntg of Orange, North Carolina, for value received hereby promises to pay to the bearer on the 10th day ofApril, 1951, the principal sum of FIFPEEN THODSAND DOLLARS together with interest thereon from the date hereof at the rate of ~ par --- cantum par annum, payable upon the pros antation and surrender of this note at its maturity. Both the principal of and the intoreat on this note are payeble at the , For the prompt payment hereof, both principal and interest ¢e the same fall due, the full faith and credit of said County are hereby irrevocably Pledged. Thin note is iaeued by said County in anticipation of the receipt of the proceeds of a like amount of School Building Bonds duly authorized by an order finally passed on October 30, 19$0, which order has taken effect, and this note is lasued pursuant to end in i'ull compliance with The County Finance Act, ae amended, and the Local Government Act, as amended, and a resolution duly Passed by the Board of Commiasionera for said County. It 1a hereby certified and recited that all acts, conditions and things required to happen, exist and be done by the Cone ti tution and laws of North Carolina precedent to and in the issuance of this note have happened, exist and have been done Sn regular and due form and time as no required, and that the total indabtedneae of said County, including this note and all other in~- debtsdness heretofore contracted in the fiscal year in which this note is is suod> does not exceed arty constitutional or statutory limitation thereon. IN tYITNESS WHEREOF, said County of Orange, pursuant to said resolution of its Board of Commissioners, has caused this note to be executed by the Che irmen of said Board and by the Register of Deeds and ox officio Clerk of said Board, under the corporate seal of the Board, all sa of the loth day of December, 1950. Chairman, Board of Commissioners I L' Register of eeda and ex officio Clark, Board of Conmii eaionara The issuance of the within note ie hereby approved. Court q A torney (ON REVERSE OF NOTE) Local Government Commission Serial No..... The issuance of this note has been approved under the pravis ions of the Local Government Act of North Carolina. 4', E. EASTERLING, Becretaxg, Local Government Commission By Designated Assistant Section l}. That the application of the County Attorney to the Local Government Commission of North Carolina to advertise and sell said note be and '.. the same Se hereby ratified. '',. Section 5- That said 515,000 School Building Bond Anticipation Note and '~, all other indebtedness heretofore contrac tad in the currant faecal year does ''~.. not exceed two-thirds of the amount by which the outstanding indebtedness of the County of Orange was reduced in the preceding fiscal year. - Commissioner Lawe moved the passage of the foregoing resolution entitled: l •.. "RESOLDTZ ON PROVIDING FOR THE ISSDANCE OF A $15,000 SCHOOL BBILDIISG B017D ANTI- C, CIPATION NOTE" and Comtnlseioner :Y11son seconded the motion and said resolution wne psaeed by the following vote: Aye a: Commiasi opera Cobb, Wilson and Laws. Noes: Nona. IIpon motion of Commissioner Lawe, seconded by Commissioner Wilson, it was ordered that Curtis C. Scott ba granted the contract of painting the Production fitarketing Adminlatrat ion basement office and the outside of the Agriculture Building at the price of $1.50 per hour par painter, with the County furnishing the paint.