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the maximum principal amount of debt to be incurred with respect to the School Project is expected to be $39,615,000. (e) All Original Expenditures to be reimbursed by the County were paid no more than 60 days prior to, or will be paid on or after the date of, this declaration of official intent. The County understands that such reimbursement must occur not later than 18 months after the later of (i) the date the Original Expenditure was paid; or (ii) the date the School Project were placed in service or abandoned, but in no event more than 3 years after the Original Expenditure was paid. 2. This resolution shall take effect immediately. Commissioner moved to approve the passage of the foregoing resolution and Commissioner seconded the motion, and the resolution was passed by the following vote: Ayes: [Chairman Stephen M. Morris, Vice Chairman Elizabeth F. Poole and Commissioners Diane R. Honeycutt, Grace M. Mynatt and Lynn W. Shue.] Nays: [None.] Not Voting: [None.] I, Megan I.E. Smit, Clerk to the Board of Commissioners for the County of Cabarrus, North Carolina, DO HEREBY CERTIFY that the foregoing is a true copy of so much of the proceedings of said Board of Commissioners at a regular meeting held on December 14, 2015, as relates in any way to the passage of the resolutions hereinabove referenced, and that said proceedings are recorded in Minute Book No. [36] of the minutes of said Board of Commissioners, beginning at page and ending at page I DO HEREBY FURTHER CERTIFY that the schedule of regular meetings of said Board of Commissioners has been on file in my office pursuant to North Carolina General Statutes § 143 - 318.12 as of a date not less than seven (7) days before said meeting. WITNESS my hand and the corporate seal of said County, this 14th day of December, 2015. Clerk to the Board of Commissioners for the County of Cabarrus, North Carolina [SEAL] Attachment number 1 \n F -6 Page 232