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HomeMy WebLinkAbout07171928MINUTES OF MEETING OF COU UTSSIONERS ON TUESDAY, JULY 17th, 1928. CALL SESSION. The Board of Commissioners of Harnett County met in Call Session on Tuesday, July 17th, 1928, in their regular meeting place in the Courthouse in Lillington, North Carolina. There were present the following members: Jas. A. Buchanan, Chairman; L.R. Byrd, B.P. Ingram, and I.R. Williams, County Attorney. The following proceedings were has: At the hour of 10 o'clock A.M., the Chairman announced t� all persons present that the Board would hear any and all citizens who might desire to protest against the issuance of the bonds authorized by the order entitled "An Order Authorizing the Issuance of 435,000.00 County Home Bonds of Harnett County, North Carolina" introduced at a meeting of this Board held on the 2nd day of July, 1928. No one asked to be heard. Upon motion of Mr. Byrd, the Board then adopted said order without change or amendment by unanimous vote. Upon motion of Mr. Byrd, the following resolution was unanimously adopted: "Resolved, that the Clerk of this Board be and she is hereby directed to publish once in each of two successive weeks, in the Harnett County News, a newspaper published in Lillington, Harnett County, North Carolina, a copy of the order authorizing the issuance of 435,000.00 County Home Bonds adopted on the 17th day of July, 1928, with a notice thereto appended in substantially th following form: 'The foregoing order was finally passed an the 17th day of July, 1928, and was first published on the 19th day of July, 1928. Any action or proceedings questioning the said order must be commenced within thirty days after its first publication. Mamie Sexton Byrd, Clerk.' Upon motion of lir. Byrd the following resolution was unanimously adopted "Resolved, that it be and is hereby determined that the indebtedness in the amount ofb435 000.00 described in the order entitled "An Order Authoriz ing the Issuance of 435,000.00 County Home Bonds of Harnett County, North Carolina" adopted on the 17th day of July, 1928, is a necessary expense to be incurred by said county. • Be it further resolved, that pursuant to said order adopted by the Board on the 17th day of July, 1928, there shall be issued bonds of Harnett County to be designated "County Home Bonds of Harnett County7 of the aggregate face amount of 435,000.00. Be it further resolved, that said bonds shall be 35 in number, numbered from 1 to 35, inclusive, of the denomination of 41,000.00 each, shall be dated July 1st, 1928, shall bear interest from their date at the rate of 4 3/4 per cent per annum, payable semi- annually on January 1st and July 1st in each year and shall mature serially as follows: 41,000.00 on July 1st, 1929, to 1953, and 42,000.00 on July 1st, 1954 to 1958, inclusive. Be it further resolved, that both principal and interest of said bonds shall be payable in gold coin of the United States of America of the Standard weight and fineness existing on LIay lst, 1928, or its equivalent in lawful money, at the Chase National Bank, in the City of New York, and that said bond shall be coupon bonds, registerable as to both principal and interest, and sha be signed by the Chairman and Clerk of the Board of Commissioners of said Coun and shall have affixed thereto the seal of said County, and the coupons attache to said bonds shall be authenticated by the facsmile signature of said Clek, said bonds and coupons shall be in substantially the following form: 'UNITED STATES OF AMERICA STATE OF NORTH CAROLINA, COUNTY OF HARNETT COUNTY HOME BONDS No. $1,000.00 The County of Harnett, in the State of North Carolina, hereby acknowledges itself indebted to, and for value received promises to pay to the bearer, or if this bond be registered, to the registered holder thereof, the sum of ONE THOUSAND DOLLARS on the 1st day of July 19 , with interest from date hereof at the rate of 4 3/4 per centum per annum, payable semi - annual on January 1st and July 1st in each year, upon presentation and surrender of th annexed interest coupons thereof as they severally become due, or if this bond s registered, to the person in whose name it is registered. Both principal and interest of this bond are payable in gold coin of the united States of America of the present standard weight and fineness, or its equivalent in lawful money, at the Chase National Bank, in the City of New York. At the request of the holder, upon presentation of this bond with all unmatured coupons thereof to the County Auditor, said coupons will be detached and cancelled and this bond registered innthe name of the holder on the books of said County. After such registration, noted hereon by the County Auditor, no transger of this bond shall be valid unless made on said books by the registered owner in person or by attorney and noted hereon by the said County Auditor. This bond is one of ah issue of 35 bonds of like tenor and effect except as to maturity, numbered from one to 35, inelusive, aggregating 35,000. and issued pursuant to the County Finance Aet.of North Carolina and a resolutio duly adopted by the Board of Commissioners for the County of Barnett. It is hereby certified and recited that all acts, conditions and things required by the Constitution or Statutes of the State of North Carolina to exist, be performed or happen prcedent to. or in the issuance of this bond, exi have been performed and happened and that the issue of bonds, of which this is one, together with all other indebtedness of Harnett County is within every debt and other limit prescribed, by the Constitution or Statutes of North Caroli The hall faith and credit of said County are hereby pledged for the punctual payment of the principal and interest of this bond according to its terms. In witness whereof, the County of Harnett has caused this bond to be signed by the Chairman and Clerk of the Board of Commissioners of Harnett Count and the seal of said County to be, hereunto affixed and the annexed coupons to bear the facsimile signature of said Clerk, and this bond to be dated. July lst, 1928. Jas. A. Beshenan, Chairman, Board of Commissioners of Harnett County, North Carolina, Clerk, Board of Commissioners of Harnett County, North Carolina.: (09UP0N) No. $23.75 On the lst day of Jaunary, July, 19 , the County of Harnett, North Carolina, will pay to bearer Twenty -Three and Seventy - Five /100 Dollars ($23.75), gold coin of the United States of America, or its equivalent in lawful money, at the Chase National Bank, in the City of New York, N.Y., being the semi- annual interest then due on its County Home Bonds, dated July lst, 1928, numbered . nie Sexton Byrd, Clerk, board of commissioners of Harnett County, North Carolina. (Endorsement on Bond) It is hereby certified that at the request of the holder of this bond 1 have this day cut off and cancelled coupons attaehed hereto, numbered from to inelusive,,and that this bond has been converted into a registered bond. Dated, Lillington, North Carolina, ,19 County Auditor. ,Date of Registration In whose_ Name Registered • • County Auditor Be it further resolved, that said bonds shall be sold at public sale upon seal proposals, at l2 o'claok U. on the 20th day of August, 1928, and the Clerk of this Board is hereby authorized and directed to cause a notice of the sale of said bonds to be published at least ten days before the date fixed for said sale in a newspaper published in Harnett County, North Carolina, to -wit: The Harnett County News; The Asheville Times, a newspaper published in Asheville, North Carolina, and in the New York World, a newspaper published in New York City, which it is hereby determined are, respectively, a financial or trade journal published within the State of North Garo.ina, which published from time to time ndtiees of sale of public securities, and financial paper publist ed in New York City. Be it farther resolved, that the not lee of sale to be published as afore- said. shall be in substantially the ib llowi ng form 'NOTICE OF SALE OF $35.000.00 COUNTY HOBE BONDS OF HARNETT COUNTY, NORTH CAROLINA. Sealed bids, addressed to the undersigned, will be received of Commissioners of Harnett County, at the office of said Board house in Millington, North Carolina, until 12 o'clock N. Monday 2P. 1928, for the purchase of 435,000.00 County Home Bonds of said County maturing annually as follows: %1,000.00 on July 1st of each of the years 1929 and 1953, inclusive, and ;x2,000.00 on July 1st of each of the years 1954 to 1958, inclusive. Bonds are dated July 1st, 1928. Interest is payable semi - annually (January 1st and July 1st) at the rate of 4 3/4 per cent per annum. Bonds are coupon bonds, registable as to both principal and interest, denomination of 41,000.00 each, and payable at the Chase National Bank, in New York City. A certified check payable to the order of the Board of Commissioners of Harnet County for 2% of the amount of the bonds bid for must accompany each bid. The right is reserved to reject all bids. Mamie Sexton Byrd, Clerk, Board of Commissioners. Be it further resolved, that the Chairman and Clerk of the Board of Commissioners are hereby aithorized and directed to execute said bonds and to deliver same to the purchaser or purchaser thereof upon payment of the purchase price to the County Treasurer, pursuant to the terms of the award made by the Board." Commissioners adjourned to meet again on July 20, 1928. oteia '" a z Chairman. 1 Clerk to Board.