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1 <br /> The Chaizman opened the floor to comment on the bond issue. <br /> Commissioner Barnes submitted a letter from the Council on Aging <br /> expressing its support of a senior Center to by 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 he was in <br /> favor of the bond issue but that he had not come to speak against <br /> it. He requested and received clarification from the Eoard 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 him 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 from the bonds and showing all other amounts to <br /> be subtracted so that the total would be known to the citizens; clari- <br /> fication on pay back the first year, peak year and all other years; <br /> how much is interest and how much is principal, for each year's <br /> repayment; how much is the amount of the tax increase. <br /> Mr. Ben Lloyd stated he had children in the Orange County school <br /> system and he was not negative about all things in the bond <br /> referendum. He asked whether the Board had plans to obtain 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 /> ,Toter in orange County could vote. He asked whether the property in <br /> Orange County would stand for the bond issue and then questioned <br /> the constitutionality of the bond issue on the basis of discrimination <br /> against the property owners, <br /> -2- <br />