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<br />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 November 17, 2008, with <br />Chairman, presiding. The following Commissioners were: <br />PRESENT: <br /> <br /> <br />ABSENT: <br /> <br />ALSO PRESENT: <br /> <br /> <br />The Chairman announced that this was the date, place and hour fixed by the Board of <br />Commissioners for a public hearing concerning a proposed plan of financing in an aggregate <br />principal amount of up to $6,000,000, which plan would involve the entry by the County into an <br />installment financing contract with a third party pursuant to North Carolina General Statutes <br />160A-20, as amended, the proceeds of which would be used to pay all or a portion of the costs of <br />acquiring real property to be used for park and other recreational purposes (collectively, the <br />"Project"), which Project was described in the notice of public hearing published in The <br />Independent Tribune on November 5, 2008 (the "Notice"), and under said installment financing <br />contract the County would secure the repayment by it of moneys advanced pursuant to such <br />contract by granting a security interest in and lien on all or a portion of the Project. <br />G-2 <br />Item# 18 <br />Attachment number 2 <br />361 of 408 <br />C <br />C <br />i <br />i] <br />C <br /> <br />i <br /> <br /> <br /> <br />