REVIEW: Following a referendum, the Council needs to adopt a resolution declaring the results of the referendum. The resolution officially declares the results based on a report from the Wake County Board of Elections and calls for the results to be published in a legal notice.

Section 1. The Town Council of the Town of Cary, North Carolina having received from the Wake County Board of Elections a certified copy of the proceedings of said Board of Elections taken on April 11, 2003, evidencing said Board of Elections’ determination of the result of the canvass of the returns of the bond referendum held in the Town of Cary, North Carolina on April 8, 2003, upon the questions of approving $30,000,000 Recreational Bonds and $130,000,000 Street Improvement Bonds of said Town, does hereby declare and certify the result of said referendum to be the result which is set forth in the following statements of the result of said referendum, which statements have been prepared by said Town Council:

STATEMENT OF THE RESULT

of the

BOND REFERENDUM

held in the

TOWN OF CARY, NORTH CAROLINA

on April 8, 2003

UPON THE QUESTION OF APPROVING

$30,000,000 RECREATIONAL BONDS

At a bond referendum held in the Town of Cary, North Carolina on April 8, 2003, 63,359 voters were registered and qualified to vote.

At said referendum 3,727 votes were cast for the order adopted on February 13, 2003, authorizing not exceeding $30,000,000 Recreational Bonds of the Town of Cary, North Carolina for the purpose of providing funds, together with any other available funds, for improving and expanding the existing parks, greenways and recreational centers of said Town and acquiring and constructing new parks, greenways and recreational centers for said Town, inside and outside its corporate limits, including, without limitation, an aquatics center, a senior center and a performing arts center, and the acquisition of land, rights of way, the acquisition and renovation of existing buildings and the furnishing of any related facilities and equipment, and authorizing the levy of taxes in an amount sufficient to pay the principal of and the interest on said bonds, and 2,916 votes were cast against said order, and that a majority of the qualified voters of the Town of Cary, North Carolina who voted thereon at said referendum voted in favor of said order, said order was thereby approved and is in force and effect.

Town Council

of the Town of Cary, North Carolina

STATEMENT OF THE RESULT

of the

BOND REFERENDUM

held in the

TOWN OF CARY, NORTH CAROLINA

on April 8, 2003

UPON THE QUESTION OF APPROVING

$130,000,000 STREET IMPROVEMENT BONDS

At a bond referendum held in the Town of Cary, North Carolina on April 8, 2003, 63,359 voters were registered and qualified to vote.

At said referendum 4,825 votes were cast for the order adopted on February 13, 2003, authorizing not exceeding $130,000,000 Street Improvement Bonds of the Town of Cary, North Carolina for the purpose of providing funds, together with any other available funds, including participating with other governmental entities in financing applicable costs, for constructing, reconstructing, widening and improving streets and roads for said Town, inside and outside its corporate limits, including, without limitation, the construction and improvement of bridges, viaducts, causeways, overpasses, underpasses, and alleys; paving, grading, resurfacing, and widening streets and roads; sidewalks, curbs and gutters, culverts, and drains; traffic centers, controls, signals, markers and other related equipment; lighting; and grade crossings and the elimination thereof and grade separations; and the acquisition of any necessary land and rights of way, and authorizing the levy of taxes in an amount sufficient to pay the principal of and the interest on said bonds, and 1,809 votes were cast against said order, and that a majority of the qualified voters of the Town of Cary, North Carolina who voted thereon at said referendum voted in favor of said order, said order was thereby approved and is in force and effect.

Town Council

of the Town of Cary, North Carolina

Section 2. The Town Clerk of the Town of Cary, North Carolina shall file a copy of the foregoing statements of the result of said referendum in her office and shall publish such statements once in The News and Observer and the Cary News. A statement in substantially the following form shall be published with the foregoing statement:

Any action or proceeding challenging the regularity or validity of this bond referendum must be begun within 30 days after [date of publication].

Section 3. This resolution shall take effect upon its passage.