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EXTRACT FROM MINUTES OF BOARD OF COMMISSIONERS OF <br /> THE COUNTY OF CABARRUS, NORTH CAROLINA <br /> The Board of Commissioners for the County of Cabarrus, North Carolina, met in regular <br /> session in the Commissioners' Meeting Room in the Cabarrus County Governmental Center in <br /> Concord, North Carolina, the regular place of meeting, at 6:30 p.m., on August 21, 2017, with <br /> Stephen M. Morris, Chairman, presiding. The following Commissioners were: <br /> PRESENT: Chairman Stephen M. Morris, Vice Chairman Diane R. Honeycutt and <br /> Commissioners Blake Kiger, Elizabeth F. Poole and Lynn W. Shue. <br /> ABSENT: [None.] <br /> ALSO PRESENT: Michael K. Downs, County Manager; Pamela S. Dubois, Senior <br /> Deputy County Manager; Susan B. Fearrington, Finance Director; Richard M. Koch, Esq., <br /> County Attorney; and Angela Poplin, Interim Clerk to the Board. <br /> RESOLUTION APPROVING INSTALLMENT CONTRACT FINANCING FOR <br /> VARIOUS PUBLIC PROJECTS IN AN AGGREGATE PRINCIPAL AMOUNT <br /> UP TO $128,105,000 AND THE EXECUTION AND DELIVERY BY THE <br /> CABARRUS COUNTY DEVELOPMENT CORPORATION OF <br /> CERTIFICATES OF PARTICIPATION AND/OR LIMITED OBLIGATION <br /> BONDS RELATED THERETO, AUTHORIZING THE EXECUTION AND <br /> DELIVERY OF RELATED DOCUMENTS IN CONNECTION THEREWITH, <br /> AND PROVIDING FOR CERTAIN OTHER RELATED MATTERS <br /> WHEREAS, the Board of Commissioners desires to approve a proposed plan of financing <br /> in an aggregate principal amount of up to $128,105,000, which plan would involve the entry by <br /> the County into one or more long-term installment financing contract(s)with the Cabarrus County <br /> Development Corporation(the "Corporation") or one or more other third parties pursuant to North <br /> Carolina General Statutes 160A-20, as amended, the proceeds of which would be used to pay all <br /> or a portion of the costs of (a) constructing and equipping new public school facilities and <br /> expanding, rehabilitating, renovating and equipping existing public school facilities, including but <br /> not limited to, one new high school and one new performance learning center high school, (b) <br /> acquisition of two parcels of real property containing approximately 25 acres, including all <br /> improvements located thereon, (c) the construction and equipping of a new multi-story parking <br /> G-4 Page 239 <br />