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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 September 20, 2010, <br />with , Chairman, presiding. The following Commissioners were: <br />PRESENT: <br />ABSENT: <br />ALSO PRESENT: <br />RESOLUTION APPROVING INSTALLMENT CONTRACT FINANCING <br />FOR VARIOUS PUBLIC SCHOOL PROJECTS IN AN AGGREGATE <br />PRINCIPAL AMOUNT UP TO $14,637,160 AND THE EXECUTION AND <br />DELIVERY BY THE CABARRUS COUNTY DEVELOPMENT <br />CORPORATION OF CERTIFICATES OF PARTICIPATION AND /OR <br />LIMITED OBLIGATION BONDS RELATED THERETO, AUTHORIZING <br />THE EXECUTION AND DELIVERY OF RELATED DOCUMENTS IN <br />CONNECTION THEREWITH, AND PROVIDING FOR CERTAIN OTHER <br />RELATED MATTERS <br />WHEREAS, the Board of Commissioners desires to approve a proposed plan of <br />financing in an aggregate principal amount of up to $14,637,160, which plan would involve the <br />entry by the County into one or more long -term installment financing contract(s) with the <br />Cabarrus County Development Corporation (the "Corporation ") or one or more other third <br />parties pursuant to North Carolina General Statutes 160A -20, as amended, the proceeds of which <br />would be used to pay all or a portion of the costs of (a) acquiring real property, (b) constructing <br />Page 353 <br />G -4 <br />