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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 <br />session in the Commissioners' Meeting Room in the Cabarrus County Governmental <br />' Concord, North Carolina, the regular place of meeting, at 6:30 p.m., on November 17, ~ <br />Chairman, presiding. The following Commissioners were: <br />t PRESENT: <br /> <br /> <br /> <br />ABSENT: <br />ALSO PRESENT: <br />t <br /> RESOLUTION APPROVING INSTALLMENT CONTRACT FINANCING <br />' FOR ACQUISITION OF REAL PROPERTY IN AN AGGREGATE <br />PRINCIPAL AMOUNT UP TO $6,000,000 AND AUTHORIZING THE <br />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 $6,000,000 which plan would involve the <br />' entry by the County into an installment financing contract with the Robert L. and Donna F. <br />' Wallace Family LLC (the "Seller") pursuant to North Carolina General Statutes 160A-20, as <br />amended, the proceeds of which would be used to pay all or a portion of the costs of acquiring <br />real property to be used for park and other recreational purposes (collectively the "Project"), and <br />under said installment financing contract the County would secure the repayment by the County <br /> <br />' G-2 <br />Item# 18 <br />Attachment number 3 <br />364 of 408 <br />