The times-news. [volume] (Hendersonville, N.C.) 1927-current, 1936-05-02
DRAFT BOND ORDER-PRO-
POSED

STATE VI NOk ii CAROLlNA
COUNTY OF HENDERSON.
Be it Resolved, by the Board of
Commissioners for the County of
Henderson, State of North Caro-
lima:
Section /. That negotiable cou-
pom bonds of said county regis
terable as to principal shall be is
sued under the authority of "The
County Finance Act" as amend
ed in 1885 and other statutes APP
plicable, for the special purpose
of funding and!o OF refunding of
valid indebtedness payable at the
time of the passage of this order
authorizing the bonds Or payable
within one year thereafter, said
indebtedness is now outstanding
and incurred for maintaining the
constitutional six months school
term.
Section 2. That brief descrip-
ton of the Indebtedness to be
funded is herewith given, to wit:
That portion designated by items
of Countrywide Direct Obfga-
tons of Henderson County out
standing and not yet paid, and
not otherwise adequately prOvid-
ed for. herein named, specified
and referred to-. consisting OF any
and all coupons and OF interest
due and OF to become due 1st day
of April, A. D., 1888, to 1st day
of May, A. D., 1886, both inclu-
sive, within the limitations fixed
by this order and on interest basis
of 1&% per annum on the re-
spective bond issues as follows:
On $50 School, Road and
Bridge Funding Bonds, dated
5-1-29, 115-155 of issue is for
school purposes that is to say of
interest and or $3.50 interest in
stallments and or coupons max
ing $23,9S0.45 for 145 bonds to
the first day Of May, 1886, ST.
791.10 is for school purposes plus
any further accrued interest to
May /, 1886, specifically funding
only the portion of the whole
hereof that accrues on an interest
rate of 1&% per annum and be-
ing as of May I, 1886, $5,660.S6.
2. On 4.75& School Building
Bonds dated 4-1-27, interest and
OF S23.75 interest installments
and or coupons making $l8,647.89
for 100 bonds to the first day of
May, 1885,, plus any further ac-
crued interest to May l, 1886,
specifically funding only the por-
ton of the whole hereof that &C
crues on an interest rate of IL q
per annum and being as of May
/, 1886 $6,8T0.26.
3. On SO School Bonds, dated
S-1-27, interest andIor $500 in
terest installments and Tor coupons
making $32,OS7.5O for 1876 bonds
to the first day of May, 1886, plus
any further accrued interest, to
May l, 1886, specifically fl-lding
only the portion of the whole
hereof that accrueS OH an interest
rate of ~ CO per annum and be-
ing as of May 1, 1886, 81, 230.63.
d. On 4.75&c School Funding
Bonds, dated 5-1-28, interest and
OF $23.75 interest installments
and or coupons making S16,-
767.5O for 119 bonds to the first
day of May, 1886, plus any fur
ther accrued interest to May l,
1886, specifically funding only
the portion of the whole hereof
that accrues on an interest rate
of IL % per annum and being as
of May 1, 1886, $6,177.45.
Section 8. That the maximum
aggregate principal amount of
said bonds shall be 9,939.20.
Section a. That tax sufficient
to pay the interest of the bonds
when due shall be annually levied
and collected; and that provision
shall be made in the detailed
resolutions providing for the pay
ment of the principal of the bonds
when due. o.. .'.'
Section 5. That a statement of
debt of said county has been filed
with the Clerk and is open to pub
lie inspection and the County Ac-
countant is hereby designated as
the proper official to file said
statement. .
Section 6. That this order shall
take effect on it's passage and
shall not be submitted to the
voters.
Section 7. That the bond order
introduced July II, 1884, author
izing the issuance of funding and
or refunding bonds to an amount
of not exceeding $369,330.00
finally passed of date July 90,
1884, and all resolutions and
clauses of resolutions heretofore
passed by this Board in pursuance
Herewith in conflict with this, or
der are hereby expressly repealed
and cancelled in toto. .s..
"The foregoing order was final
ly passed on the 25th day of
April, A.. D.. 1886, and was first
published on the 25th day of
April, A. D., 1886. Any action or
proceeding questioning the valid
ity of said order must be COM
menced within thirty days after
its first publication" 80
This the 25th day of April,
A. D. 1886. :.
By order Board of Commission
ers. o..
The 25th day of April, A. D.,
1886.
'~. J. C. COSTON,
Clerk, Board of County Commits
sioners of Henderson County,
Sc North Carolina.