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0913193981 September 13, 1939 HARNETT COUNTY,NORTH CAROLINA BOARD OF COMMISSIONERS An adjourned regular meeting of the Board of Commissioners for the County of Harnett, North Carolina, was held at the Court House in Lillington,North Carolina, the usual place of meeting,on September 13, 1939, at 9:30 o'clock,A.M. Present: Chairman J.B.Ennis, Commissioners L.R.Byrd, A.A.Cameron,R.L.Pate, F.D.Jackson. Absent: None Commissioner L.R.Byrd introduced the following bond order authorizing County bonds, which was read and is as follows: ORDER AUTHORIZING $40,000 REFUNDING SCHOOL BONDS BE IT ORDERED AND RESOLVED by the Board of Commissioners for the County of Harnett: 1. That bonds of Harnett County be issued pursuant to the County Finance Act, as amended, in an amount not exceeding 040,000 for the purpose of refunding a like amount of the principal of valid subsisting bonded indebtedness which was lawfully incurred by the school districts hereinafter mentioned for erecting and equipping school buildings necessary for maintaining the constitutional six months' school term and was thereafter assumed by Harnett County,which indebtedness is evidenced by the following: $15,000 Lillington School District School Bonds, Dated October 1, 1919, maturing October 1, 1939. $15,000 Coats School District School Bonds, dated October 1, 1919, maturing October 1, 1939. $10,000 Coats School District School Bonds, Dated May 1, 1920, maturing May 1, 1940. 2. That a tax sufficient to pay the principal and interest of said $40,000 Refunding School Bonds herein authorized shall be annually levied and collected. 3. That a statement of the debt of the County has been filed with the Clerk and is open to public inspection. 4. That the holders of said $40,000 Refunding School Bonds shall be subrogated to all the rights and powers of the holders of the indebtedness so refunded. 5. That this order shall take effect upon its passage and shall not be submitted to the voters. The Board thereupon designated the County Accountant as the officer to file with the Clerk the Statement of debt and assessed valuation required by the County Finance Act to be filed before the passage of the bond order this day introduced. Thereupon the County Accountant filed with the Clerk,in the presence of the Board, the statement of debt and assessed valuation as required by Section 13 of the County Finance Act. The order authorizing $40,000 Refunding School Bonds was thereupon passed on first reading. And thereupon the Board fixed 10 o'clock A.M. September 25, 1939, as the hour and date for the public hearing as required by Section 16 of the County Finance Act and requested the Clerk to publish the bond order which had been introduced this day, together with the appended note as required by Section 16 of said Act, in the Harnett County News not later than the 10th day before said date. 82 HARNETT COUNTY STATEMENT CONCERNING SCHOOL INDEBTEDNESS I,J.S.McLean,County Accountant of Harnett County, North Carolina, do make and file the following statement of the financial condition of said County,having been designated by the Board of Commissioners for that purpose. Said Statement includes a statement of debts incurred and to be incurred for school purposes under orders either introduced or passed,whether evidenced by bonds, notes or otherwise, and whether incurred by original creation of the debt or by assumption of debt,including debt incurred by the County Board of Education, and including debt to the State or any department thereof, but not including obligations incurred to meet appropriations in anticipation of revenues to an amount not exceeding the amount of the last preceding tax levy for school purposes (except such thereof as are to be funded under bond orders introduced or passed,which obligations are included),nor including debt incurred in _anticipation of the scale of any kind of bonds except funding and refunding bonds. (a) The assessed valuation of property as last fixed for county taxation .........420,449,295.00 (b) Outstanding school debt 5696,757.14 (c) Bonded school debt to be in- curred under orders either passed or introduced: Refunding School Bonds $ 40,000.00 (d) The sum of items (b) and (c) $ 736,757.14 (e) School sinking funds, being money or investments thereof pledged and held for the payment of prin- cipal of outstanding school debt ....$22,500.00 (f) School credits, being principals sums owing to the county from school districts which are pledged to and when collected will be used in the retirement of outstanding school debt- 3,859.49 (g) Amount of unissued funding and refunding school bonds included in gross debt $40,000.00 (h) The -sum of items (e),(f) and-(g)--.- x:66,359.49 (i) Net school debt,being the'suxn by which item (d) exceeds item (h) $670,397.65 (j) The percentage that the net school debt bears to said assessed valuation....3.28% 3.S.McLean County Accountant STATE OF NORTH CAROLINA HARNETT COUNTY. -` Subscribed and sworn to before me this 13th day of September, 1939. My commission expires May 23,1940. Lola ()Quinn (SEAL) Notary Public. ORDER AUTIIORIZING $40,000 REFUNDING SCHOOL BONDS BE IT ORDERED AT D RESOLVED by the Board of Commissioners for the County of Harnett: 1. That bonds of Harnett County be issued pursuant to the County Finance Act, as amended, in an amount not exceeding $40,000 for the purpose of refunding a like amount of the principal of valid subsisting bonded inebtedness which was lawfully incurred by the school districts hereinafter mentioned for erecting and equipping school buildings necessary for maintaining the constitutional six monthst school term, and was thereafter assumed by Harnett County,which indebtedness is evidenced by the following: 83 $15,000 Lillington School District School Bonds, Dated October 1, 1919,maturing October 1,1939. $15,000 Coats School District School Bonds, Dated October 1,1919,maturing October 1,1939. $10,000 Coats School District School Bonds, Dated May 1,1920,maturing May 1,1940. 2. That a tax sufficient to pay the principal and interest of said $40,000 Refunding School Bonds herein authorized shall be annually levied and collected. 3. That a statement of the debt of the County has been filed with the Clerk and is open to public inspection. 4. That the holders of said $40,000 Refunding School Bonds shall be subrogated to all the rights and powers of the holders of the indebtedness so refunded. 5. That this order shall take effect upon its passage and shall not be submitted to the voters. The foregoing order has been introduced and a sworn statement has been filed under the county Finance Act, showing the assessed valuation of the ounty to bd $20, 449,295. and the net debt for school purposes, including the proposed bonds, to be $736,757.14. A tax will be levied for the payment of the proposed bonds and interest if the same shall be issued. Any citizen or taxpayer may protest against the issuance of such bonds at a meeting of the Board of County Commissioners to be held at 10 o'clock A.M., September 25, 1939, or an adjournment therebf. Inez Harrington Clerk of Board of Commissioners. It is ordered that unused check received by County in payment for lands purchased by W.P. and or J.O. Sutton,known as Collins lands, be returned to the purchaser, together with sufficient funds to reimburse purchaser for the amount he paid, plus interest and $9.50 court costs. The commissioner will refund to the County commissions of $75.16 all to the end that the true amount due County may be ascertained and recovered. The County Tax Collector exhibited the insolvent list to the Board and the members inspected same. The list was returned to the collector with instructions that it must be reduced before the Board would accept it, and he was instructed to make a diligent effort to the end that the number and amount on the insolvent list may be reduced. The Board recessed to re- convene and continue at 10:00 o'clock A.M., on Sept. 25, 1939. Clerk. Chairman.