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December 13th minutes continued <br />Power Company to apply on the old age assistance lien of George Mitchell and Rosa Moore Mitchell, <br />and that said old age assistance lien be released to the extent necessary, for the purpose of said <br />easement for right of way purposes, and that the County execute and deliver to Duke Power Company <br />any, necessary release or right of way deed required for this purpose and deliver the same to <br />Duke Power Company. <br />A discussion ensued as to the investment of the million and one-halt dollars in bond <br />money, it was agreed that this matter would be further studied by the County Accountant and <br />that the Board is to be advised immediately as to what procedure should be followed. <br />There being no further business this meeting was adjourned. <br />'I Betty June Hayes Donald Stanford <br />Clerk Chairman <br />Minutes of the Orange County Board <br />of Commissioners <br />December 22, 1961 <br />The Orange County Board of Commissioners met in a special meeting on Friday, December <br />22, 1961, in the Commissioners room at the courthouse in Hillsboro at B o'clock p.m. <br />Members present: Chairman Donald Stanford, Commissioners Harvey Bennett, Clarence <br />Janes, Donald McDade and Henry Walker. <br />Members absent: Hone <br />The purpose of this meeting was to approve plans for the investment of the proceeds <br />of the recent sale of School Building Bonds. The County Accountant presented the following <br />plan based on the best information available concerning the expenditure of these funds: <br />1. Invest $250,000.00 to become due about 5/25/62 <br />2. Invest $250,000.00 to become due 9/ /62 <br />3. Invest $250,000.00 to become due 1/ /63 <br />-h. Invest $250,000.00 to become due 31 /63 <br />5. Invest $250,000.00 to become due 8/ /63 <br />Commissioner Jones moved we adopt the above Dian of investments, and that a sufficient <br />amount of interest from these investments be placed in the Building Fund to cover the cost of <br />issuance of the bonds and that all remaining interest from the investment be placed in the <br />School Debt Service Fund. <br />Commissioner Walker seconded this motion and Chairman Stanford called for the vote. <br />There were 5 ayes and 0 nayes. Chairman Stanford then declared the motion carried. <br />The remaining part of the meeting was devoted to a discussion of the request of <br />William L. Murihead to reduce the tax valuation on the Glenn lennox Development Corporation <br />and the Country Club Development Corporation. <br />There Being no further business the meting was adjourned. <br />any <br />S. i{. Gattis Donald Stanford <br />Acting Clerk Chairman