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The Board of Commissioners for the County of Cabarrus met in regular session at the County Courthouse in Concord, North Carolina, on Monday, July 16, 1984, at 7:00 P.M. Present - Chairman: James W. Lentz Commissioners: Archie Y. Barnhardt Marcelle Milloway J. Harold Nash Kenneth F. Payne The invocation was given by Reverend Jim Camp of Immanuel Baptist Church of Concord, North Carolina. UPON MOTION of Commissioner Milloway, seconded by Commissioner Barnhardt and unanimously carried, the minutes of June 4, 6,.14, 18, and 21, 1984, were approved as written. Commissioner Barnhardt nominated Mr. James F. Allison for appointment to the Region F Emergency Medical Services AdviSory Council of the Centralina Council of Governments. Commissioner Milloway nominated Ms. Mildred Almond for reappointment to the Advisory Council. There were no additional nominations for the Advisory Council. UPON MOTION of Commissioner Nash, seconded by Commissioner Barnhardt and unanimously carried, the Board approved the ~appointment of Mr. James F. Allison and the reappointment of Ms. Mildred Almond to the Region F Emergency Medical Services Advisory Council for a term of two years expiring on June 30, 1986. Commissioner Nash introduced the following Resolution, a copy of which had been distributed to each Commissioner and the title of which appeared on the agenda. RESOLUTION APPROVING THE ISSUANCE BY THE CABARRUS COUNTY INDUSTRIAL FACILITIES AND POLLUTION CONTROL FINANCING AUTHORITY OF ITS INDUSTRIAL REVENUE BONDS (NC PLASTICS, INC. PROJECT) IN THE PRINCIPAL AMOUNT OF $3,643,000 TO FINANCE AN INDUSTRIAL PROJECT FOR NC PLASTICS, INC. BE IT RESOLVED by the Board of Commissioners for the County of Cabarrus: Section 1. The Board of Commissioners has determined and does hereby declare as follows: A. The Board of Commissioners of The Cabarrus County Industrial Facilities and Pollution Control Financing Authority (the "Authority") met on July 16, 1984 and took the following action in connection with the proposed issuance and sale of the Authority's Industrial Revenue Bonds (NC Plastics, Inc. Project) in the aggregate principal amount of $3,643,000; (1) authorized the borrowing under and the issuance and performance of the Authority's Industrial Revenue Bonds (NC Plastics, Inc. Project) in the aggregate principal amount of $3,643,000 and directed the execution and delivery of said Bonds; (2) approved and authorized the execution, delivery and performance of (a) the Bond Purchase Agreement among the Authority, Southern National Bank of North Carolina ("Southern") and NC Plastics, Inc. (the "Company") with the forms of Series A, B and C Bonds attached thereto as Exhibits A, B and C; (b) the Loan Agreement between the Authority and the Company, with the forms of the Company's Notes attached thereto as Exhibits A, B and C; (c) the Bond Purchase Agreement among the Authority, The Concord National Bank ("Concord") and the Company with the form of Series D Bond attached thereto as Exhibit A; (d) the Loan Agreement between the Authority and the Company, with form of the Company's Series D Note attached thereto as Exhibit A; (e) the Security Agreements between the Company and the Authority; (f) the Assignment between the Authority and Southern and consented ~o by the Company; and (g) the Assignment between the Authority and Concord and consented to by the Company; (3)approved the forms of the Notes and authorized the endorsement thereof without recourse to the order of and the pledge thereof to Southern and Concord; and