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EXTRACT FROM MINUTES OF BOARD OF COMMISSIONERS OF <br />THE COUNTY OF CABARRUS, NORTH CAROLINA <br />The Boazd of Commissioners for the County of Cabarrus, North Carolina, met in regulaz <br />session in the Commissioners' Meeting Room in the Cabarrus County Governmental Center in <br />Concord, North Carolina, the regulaz place of meeting, at 6:30 p.m., on December 17, 2007, with <br />Chairman, presiding. The following Commissioners were: <br />PRESENT: <br />ABSENT: <br />ALSO PRESENT: <br />* * * * « <br />RESOLUTION APPROVING INSTALLMENT CONTRACT FINANCING <br />FOR PUBLIC SCHOOL PROJECTS IN AN AGGREGATE PRINCIPAL <br />AMOUNT UP TO $63,000,000 AND THE EXECUTION AND DELIVERY BY <br />THE CABARRUS COUNTY DEVELOPMENT CORPORATION OF <br />CERTIFICATES OF PARTICIPATION RELATED THERETO, <br />AUTHORIZING THE EXECUTION AND DELIVERY OF RELATED <br />DOCUMENTS IN CONNECTION THEREWITH, AND PROVIDING FOR <br />CERTAIN OTHER 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 $63,000,000, which plan would involve the <br />entry by the County into an installment financing contract with the Cabarrus County <br />Development Corporation (the "Corporation") 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 and constructing and equipping new public school facilities, including, <br />G-s' <br />