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EXTRACT FROM MINUTES OF MEETING <br />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 May 19, 2014, with <br />Elizabeth F. Poole, Chairman, presiding. The following Commissioners were: <br />PRESENT: Chairman Elizabeth F. Poole and Commissioners and <br />ABSENT: <br />ALSO PRESENT: Michael K. Downs, County Manager; Pamela S. Dubois, Deputy <br />County Manager; Jonathan B. Marshall, Deputy County Manager; Ann M. Wilson, Finance <br />Director; Richard M. Koch, Esq., County Attorney; and Megan I.E. Smit, Clerk to the Board <br />The Chairman introduced the following resolution, a summary of which had been <br />provided to each Commissioner, a copy of which was available with the Clerk to the Board and <br />which was read by title: <br />RESOLUTION APPROVING THE FILING OF AN APPLICATION <br />WITH THE LOCAL GOVERNMENT COMMISSION WITH RESPECT <br />TO UP TO $9,000,000 GENERAL OBLIGATION COMMUNITY <br />COLLEGE BONDS, AUTHORIZING PUBLICATION OF A NOTICE <br />OF INTENT TO FILE SAID APPLICATION AND MAKING CERTAIN <br />FINDINGS RELATED THERETO <br />WHEREAS, the Board of Commissioners of Cabarrus County (the "Board ") has decided <br />to pursue the issuance of general obligation community college bonds in the maximum aggregate <br />principal amount of $9,000,000 (the "Community College Bonds ") under the Local Government <br />Bond Act (the "Act ") to finance, in part, the acquisition, construction, installation and equipping <br />of a new community college facility (Building 4000 - Advanced Technology Center) for Rowan - <br />Cabarrus Community College within the boundaries of Cabarrus County, including acquisition <br />of necessary land and rights -of -way (the "Community College Project "); <br />WHEREAS, under the Act the issuance of such bonds must be approved by the Local <br />Government Commission and pursuant to G.S. § 159 -50 of the Act, a notice of the intention to <br />Attachment number 5 <br />G -5 Page 233 <br />