NORTH CAROLINA GENERAL ASSEMBLY

1969 SESSION

CHAPTER 992

SENATE BILL 615

AN ACT TO AUTHORIZE RICHMOND COUNTY BOARD OF EDUCATION TO ACQUIRE LAND FOR FUTURE SCHOOL CONSTRUCTION AND TO AUTHORIZE PURCHASE AND PAYMENT ON AN INSTALLMENT BASIS.

WHEREAS, the Richmond County Board of Education finds it necessary to acquire certain land now located within Richmond County and it is necessary for financial budgetary reasons to finance the purchase of this land on a deferred payment plan extending over a six (6) year period from 1969 to 1974;

NOW, THEREFORE,

The General Assembly of North Carolina do enact:

Section 1.  The Richmond County Board of Education, with the consent and approval of the Richmond County Board of Commissioners, is authorized to borrow up to one hundred and twenty thousand dollars ($120,000.00) for the purpose of purchasing real property upon which will be constructed school building(s), and the Richmond County Board of Education is authorized to repay any sum borrowed over a six (6) year period, or lesser period of time to be determined by the Richmond County Board of Education.

Sec. 2.  The Richmond County Board of Education is further authorized to execute any and all documents, mortgages, instruments of security, or other necessary legal documents to complete the transaction authorized in Section 1, including the execution of the necessary promissory notes, and to do any and all things necessary to carry out the purchase of said real property.

Sec. 3.  The Board of Commissioners of Richmond County is hereby authorized to submit any contracts or agreements entered into on behalf of the Richmond County Board of Education pursuant to this Act to a vote of the people of Richmond County. Any such election shall be conducted in the manner provided by law for bond elections in counties.

Sec. 4.  All laws and clauses of laws in conflict with this Act are hereby repealed.

Sec. 5.  This Act shall be in full force and effect from and after its ratification.

In the General Assembly read three times and ratified, this the 23rd day of June, 1969.