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N ORTH CAROLINA Charter Educational Foundation, Inc. January � 1, 2016 VIA ELECTRONIC MAIL Board of County Commissioners County of Cabarrus, North Carolina 65 Church Street SE Concord, North Carolina 28026 Re: Request for public hearing at Board of Commissioners' February 15, 2016, meeting to approve tax- exempt bond financing for The North Carolina Charter Educational Foundation, Inc. Ladies and Gentlemen: On behalf of The North Carolina Charter Educational Foundation, Inc. (the " Corporation "), I am writing to request that the Board of Commissioners for the County of Cabarrus (the " Board ") host a public hearing at its February 15, 2016 meeting and approve, in accordance with Section 147(f) of the Internal Revenue Code of 1986, as amended (the " the Corporation's financing of certain projects with the proposed issuance of tax - exempt bonds in one or more series or issuances (the ` Bonds "). As you know, Section 147(f) of the Code requires all private activity bonds, such as the Bonds, to be approved by (1) the governmental unit issuing the bonds or on behalf of which such bonds are being issued (in this case, the Public Finance Authority, a unit of government and a body corporate and politic of the State of Wisconsin) and (2) each governmental unit having jurisdiction over the area in which the facilities being financed with the bonds are located (which includes Cabarrus County). Accordingly, the Corporation is requesting the Board to hold a public hearing and approve the proposed bond issue in order to comply with the hearing and approval requirements of Section 147(f) of the Code. Such approval by the Board does not in any way make Cabarrus County responsible or liable for the Bonds, which is a fact that will be set forth clearly in the resolution of the Board approving such financing. Hosting the public hearing and approving the issuance of the Bonds would merely be a ministerial act to help the Corporation comply with the provisions of the Code in order to use the proceeds of tax- exempt bonds. A preliminary draft of the Board's approval resolution is attached to this letter. Robinson, Bradshaw & Hinson, P.A., as bond counsel, will cause the required notice of public hearing to be published in the Independent Tribune as "a newspaper of general circulation available to residents of Cabarrus County at least 14 days before the public hearing. A draft of the notice of public hearing is attached to this letter. 81003690 23840.40011 Attachment number 1 \n G -3 Page 109