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<br />7. The County ofCabarrusis notin default in any of its debt service obligations. <br />8. The attorney for the County of Cabarrus has rendered an opinion that the proposed <br />Project is authorized by law and is a purpose for which public funds may be <br />expended pursuant to the Constitution and laws of North Carolina. <br /> <br />NOW, THEREFORE, BE IT FURTHER RESOLVED that the Finance Director is <br />hereby authorized to act on behalf of the County of Cabarrus in filing an application with the <br />North Carolina Local Government Commission for approval of the Project and the propose'd <br />financing contract and other actions not inconsistent with this resolution. <br /> <br />This resolution is effeCtive upon its adoption this~ day of February, 2004. <br /> <br />~~A.~~. <br /> <br />Ro . Freeman, Chairman <br />Board of Commissioners <br /> <br />ATTEST: <br /> <br />~}~.iu J. ~ <br />Frankie F. Bonds, Clerk to the Board <br /> <br />r-B <br />