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Ib <br />Kenneth T. Chavious <br />June 11, 2004 <br />Page 11 <br />Orange County Bonds for Land Acquisition --Notice of Adoption of Bond <br />Order <br />The Orange County Board of Cornrnissioners has adopted the following <br />bond order, providing for the issuance of bonds for land acquisition. Further <br />information regarding the bonds and the bond order appears at the end of this <br />notice. <br />* ~ k x ~ ~ <br />BOND ORDER AUTHORIZING THE ISSUANCE OF GENERAL <br />OBLIGATION BONDS FOR LAND ACQUISITION IN THE MAXIMUM <br />AMOUNT OF $300,000 <br />WHEREAS- <br />The Board of Commissioners of Orange County, North Carolina (the <br />"County"), has along-standing commitment to provide funds and acquire property, <br />and interests in property, for preservation, resource protection and open space <br />purposes under the County's "Lands Legacy" initiative. <br />By law, the County may issue general obligation bonds for this purpose <br />without referendum approval in an amount up to two-thirds of the amount by <br />which the County will have reduced its outstanding indebtedness in the 2003-04 <br />fiscal year. <br />The County has applied to the North Carolina Local Government <br />Commission (the "LGC") for its approval of such bonds for this purpose. The LGC <br />has accepted the County's application, <br />BE IT ORDERED by the Board of Commissioners of Orange County, <br />North Carolina, as follows: <br />Orange 04 23 2d meeting docs <br />