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<br />An adf Darned regular meeting of the Board of Commi sal onere for the County
<br />of Orange, North Carol ins, convened at the Courthoua a, in H111aboro, North
<br />Carolina, the regular place of meeting, at 9:00 b'cloCk A. td., do Jvne.16, 195
<br />Present: Chairman Collier Cobb, Jr., and Commie si Deere R. 0. Forrest and
<br />Sim L. Eflend.
<br />Absent: None.
<br />Commi saioner Forreet introduced the following resolution which was read:
<br />RESOLDTION REPEALING A RESOLUTION PASBID ON MAY S, 1952
<br />ENTITLED: ^RESOLIITION PRO~Z DING FOR TAE ISSIIANCE OF
<br />$250,000 COIIRTHOUSE BOND ANTICIPATION NOTES"
<br />I BE IT RESOLVED by the Board of Commis sl oners for the County of Orange:
<br />Section 1. That a resolution pesaed on 64ey 5, 1952 entitled: "RESOLtPPI ON
<br />PROVIDING FOR TBE ISSIIANCE OF 6250,000 COIIRT30IISE BOND ANTZCIPATI ON NOTES" be
<br />and the same is hereby repealed.
<br />Section 2. That this resolution shall take effect upon its passage.
<br />Commi saioner Forrest moved the passage of the foregoing resolution en-
<br />titled: ^RESOLDTION REPEALING A RESOLUTION PASSED ON MAY 5, 1952 ENTITLED:
<br />'R^.SOLB120N PROVIDING FOR TAE ISSIIANCE OF 6250,000 COURTHOIISE BOND ANTICIPATION
<br />NOTES" and Commie eioner Efland seconded the motion end the rasoluti on was
<br />passed by the following vote:
<br />Ayes: Commies loners Cobb, Forreet and Eflend.
<br />Noe e: None
<br />An adf ovrn ed regular meeting of the Board of Commi ssionere for the County
<br />oT Orange, North Carolina, convened at the Courthouse, in Hillsboro, ]lorth
<br />Carolina, the regular plaoe of meeting, at 9:00 o'clock A. M., on June 16, 1952
<br />Present: Chairman Collier Cobb, Jr., end Commisai onere R. 0. Forreet and
<br />Sim L. E11 and.
<br />Absent: Nona.
<br />C ommlasloner Efland lntroduc ed the following resolutl on which was read:
<br />RESOLDTION PROVIDING FOR THE ISSIIANCE OF 6250,000 COIIRT-
<br />HOIISE BOND ANTICIPATION NOTES DATED SONS 20, 1952.
<br />BE IT RESOLVED by the Hoard of Commiael onere for the County of Orange:
<br />Section 1. That the Board of Commisai onere has determined end does hereby
<br />find and declare:
<br />(e) That an order authorizing 6250,000 Courthouse Hoads wee finally passed
<br />on October 17, 1949, which order w¢a approved by the vote of a maf ority of the
<br />qualified voters of said County who voted thereon at an election duly called
<br />and held on November 22, 1949•
<br />(b) That none of the said bonds has been Ss sued end no not as are outstand-
<br />ing which mere issued Sn anticipation of the eels of said bonds.
<br />Section 2. That in order to anti clpate the re colpt of the pro coeds of a
<br />like amount of said Courthouse Bonds, a temporary loan of 6250,000 is hereby
<br />authorized to be avi denc ed by nego tlable notes of the County of Orange de~ig-
<br />nated ^CoUrthouse Bond Anticipation 14otes^, which notes shell be dated June 20,
<br />1952. shall mature on Deoember 20, 1952, without option of prior payment, and
<br />shall bear inter set at a rate to be determined by the Local Government Commis-
<br />sion at the time the notes are sold, not exceeding by per annum, which interoat
<br />shall be payable at the maturity of the notes, to which no interest coupons
<br />shall be attached. Said notes shall be payable as to principal and interest
<br />at each bank or trust comoemy, shall have such deaominati ono and bear such
<br />numbers, ae may be fixed by the Chairman of the Board after the award of the
<br />not ea by the Local Gov ernmsnt Commie eion.
<br />Section j. That said notes shall be signed by the Chairman of the Hoard
<br />of Commis ei onere and by the Register of Deeds ¢nd ax officio Clerk of said
<br />Hoard, under the Corporate seal of acid Board, and shell ha va endorsed thereon
<br />the written approval of the County Attorney, and the form of said notes shall
<br />be substantially as follows:
<br />No.
<br />IInited States of America
<br />State of North Carolina
<br />6~_
<br />COUNTY OF ORANGE
<br />
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