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BOCK ) PACE 5
<br />The Person.. County Board of Commissioners suggested that two board members
<br />from each county be appointed to serve on the mental health committee. This
<br />committee would work out the necessary details of the proposed mental health
<br />program and report all plans to their respective boards.
<br />There being no further business to come before the Board, the Board
<br />was adjourned to meet again on Monday, July 24, 19679 6 p.m. in the
<br />Commissioners Room.
<br />Harvey D. Bennett, Chairman
<br />Betty June Hayes, Clerk
<br />S. M. Gatti_s, Acting Clerk
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<br />MINUTES OF THE ORANGE COUNTY
<br />BOARD OF COMMISSIONERS
<br />July 24, 1967
<br />The Board of Commissioners for the County of Orange, North Carolina,
<br />met in adjourned regular session at the County Courthouse in Hillsborough,
<br />North Carolina, the usual place of meeting, at 8:00 o'clock P.M., July 242 1967.
<br />Present: Chairman Harvey D. Bennett, and Commissioners William C. Ray,
<br />Carl M. Smith, Henry S. Walker and Ira A. Ward.
<br />Absent: None
<br />Commissioner Smith introduced the following resolution which was read:
<br />RESOLUTION PROVIDING FOR THE ISSUANCE
<br />OF $650,000 WATER AND SEWER BONDS
<br />BE IT RESOLVED by the Board of Commissioners for the County of Orange:
<br />Section 1. The Board of Commissioners has determined and does hereby
<br />find and declare:
<br />(a) That an order authorizing $560,000 Water Bonds and an order authorizing
<br />$90,000 Sanitary Sewer Bonds of the County of Orange were finally passed by the
<br />Board of Commissioners on October 3, 1966, which orders were approved by the vote
<br />of a majority of the qualified voters of said County who voted thereon at an
<br />election duly called and held on November 8, 1966.-
<br />(b) That none of said $560,000 Water Bonds has been issued, and that no
<br />notes have been issued in anticipation of the receipt of the proceeds of said bonds.
<br />(c) That nine of said $90,000 Sanitary Sewer Bonds has been issued and no ,
<br />notes have been issued in anticipation of the receipt of the proceeds of said bonds.
<br />(d) That it is necessary that the County of Orange issue at this time all
<br />of said Water Bonds and all of said Sanitary Sewer Bonds authorized by said orders.
<br />(e) That the period of the life of the waterworks system to be constructed
<br />from the proceeds of said Water Bonds is forty years, that the probable period of
<br />the life of the sanitary sewer system to be constructed from the proceeds of said
<br />Sanitary Sewer Bonds is forty years, and that the average of said two periods, com-
<br />puted from October 3, 1967, a date not more than one year after final passage of
<br />said orders, and taking into consideration the amount of bonds to he issued for
<br />each purpose, is a period expiring on October 3, 2007.
<br />(f) That said $560,000 Water Bonds and said $90,000 Sanitary Sewer Bonds
<br />shall be consolidated into an issue of $650,000 bonds of the County of Orange,
<br />designated "Water and Sewer Bonds".
<br />Section 2. For the purposes provided in said orders there shall be issued
<br />the negotiable coupon bonds of the County of Orange in the aggregate principal
<br />amount of $650,000 designated "Water and Sewer Bonds", dated June 1, 1967,
<br />consisting of 130 bonds of the denomination of $59000 each, numbered 1 to 130,
<br />inclusive, unless, pursuant to the provisions of the notice of sale for said bonds
<br />published by the Local Government Commission, the successful bidder for said bonds
<br />shall request $1,000 denominations, in which event said bonds shall consist of 650
<br />bonds of the denomination of $1,000 each, numbered 1 to 650, inclusive. Said bonds
<br />shall mature annually, June 1, in numerical order, lowest numbers first, $20,000
<br />1968, $20,000 1969, $25,000 1970 to 1980, 130,000 1981 to 1985, all inclusive,
<br />$35,000 1986, and $50,000 1987 to 1989, inclusive, without option of prior payment,
<br />and bear interest from their date at a rate or rates not exceeding 6% per annum to
<br />be determined by the Local Government commission at the time the bonds are sold,
<br />which interest to the maturity thereof shall be payable semi-annually on the 1st days
<br />of June and December of each year, and both the principal of and the interest on said
<br />r
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