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Northeast Cabarrus Volunteer Fire Department Board Resolution to purchase and finance new apparatus: Northeast Volunteer Fire Department and Community Center(NEVFD) has previously determined and purposed to purchase a new Pierce 2000 gallon Tanker at a cost of$273,137.00.The Board's hope is that this purchase will help lower the current ISO Rating for Northeast residents. The Board at NEVFD met on Monday November 14, 2016 to review several options to finance the truck (Exhibit A).The Board resolved to put zero money down and enter into a twenty(20)year term with Uwharrie Bank. As per the loan agreement, NEVFD will begin making monthly payments per the amortization schedule attached (Exhibit B).These payments will be set up to be automatically drafted from the NEVFD Operating Account once approved by the County Commissioners. Whereas: The Internal Revenue Code requires for such financing to be executed on a tax-exempt basis, NEVFD Board Members must first approve the financing and then advertise to the community a public hearing on the financing and receive feedback from the community. Let it be known: An open meeting was held on December 5th at 6:00pm in the Community Center of NEVFD located at 1580 Lentz Harness Shop Road in Mt. Pleasant NC 28214 to discuss the recommendations of the Board to purchase the apparatus. Meeting minutes from the public forum are attached (Exhibit C). NEVFD would like to present the findings herein and request a Cabarrus County Board Resolution. We hereby attest that the information attached (Exhibit A, Exhibit B and Exhibit C) is accurate and reflect the true intentions of the entire Board of NEVFD and the Northeast community. Patrick Bergeron, Board President Kevin Kirk, Fire Chief Notarized: In the State of North Carolina and the County of Cabarrus Patric er eron and Kevin Kirk personal!y appeared before me on January 10, 2017. Suzette D. Kluttz -Notary Public J-' _ My commission expires: 1�sa G-4 Page 88