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<br />EXTRACT FROM MINUTES OF BOARD OF COMMISSIONERS OF <br />THE COUNTY OF CABARRUS, NORTH CAROLINA <br /> <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 March 21, 2005, with <br />,rnAinl1Rn, pr~l'iding. The following Commiooionor3 wcrc: <br /> <br />PRESENT; <br /> <br />ABSENT: <br /> <br />ALSO PRESENT: <br /> <br />* * * * * * * * * * <br /> <br />The Chairman announced that this was the date, place and hour fixed by the Board of <br /> <br />Cornmissioners for a public hearing concerning a proposed plan of financing in an aggregate <br /> <br /> <br />principal amount of up to $4,358,000, which plan would involve the entry by the County into an <br /> <br /> <br />installment financing contract with RBC Centum Bank pursuant to North Carolina General <br /> <br /> <br />Statutes Section 160A-20, as amended, with the proceeds thereof to be used to pay all or a <br /> <br /> <br />portion of the costs of (i) renovations to the Rowan Cabarrus Community College ("RCCC") <br /> <br /> <br />Business Center, (ii) design and construction of a parking lot on the RCCC South Campus and <br /> <br /> <br />(iii) design costs for RCCC's Building 3000 (collectively the "Project"), which Project was <br /> <br /> <br />described in the notice of public hearing published in The Independent Tribune on March 9, <br /> <br /> <br />2005 (the "Notice"), and un~er said installment financing contract the County would secure the <br /> <br /> <br />G-,'d-J <br />