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Resolution No: 2004- <br /> <br /> CABARRUS COUNTY <br />BOARD OF COMMISSIONERS <br /> <br /> RESOLUTION IN SUPPORT OF AMENDMENT ONE: <br />SELF-FINANCING BONDS: A LOCAL ECONOMIC DEVELOPMENT TOOL TO <br />CREATE QUALITY JOBS, REVITALIZE COMI~UI~ITIES AND ATTRACT <br />NEW ECONOMIC OPPORTUNITIES IN NORTH CAROLINA <br /> <br />W~EREAS, Cabarrus County has a need to attract more jobs and economic <br /> development; and <br /> <br />W~EREAS, self-financing development bonds will have a direct impact on <br /> creating new jobs, new investment, and strengthening the tax <br /> base in our state; and <br /> <br />W~EREAS, communities across the nation have used these bonds <br /> successfully to promote economic development; and <br /> <br />W~EREAS, the use of these bonds will make a difference for every <br /> community - urban, suburban and rural; and <br /> <br />W~EREAS, these bonds will give local governments flexibility to pursue <br /> multiple types of economic development projects including <br /> industrial site development, redevelopment of existing <br /> industrial and Brownfield sites, affordable housing and <br /> community revitalization; and <br /> <br />W~EREAS, these bonds allow North Carolina's local governments to use a <br /> new mechanism to invest in public improvements designed to <br /> attract private sector investment; and <br /> <br />W~EREAS, North Carolina is only one of two states in the nation that <br /> do not have this economic development tool; and <br /> <br />W~EREAS, self-financing development bonds have received wide-range bi- <br /> partisan support from the General Assembly and the business <br /> community, as well as municipal, county and state government and <br /> former Governors Holshouser, Martin and Hunt; and <br /> <br />W~EREAS, North Carolina will have some of the strongest safeguards in <br /> the country to ensure self-financing bonds are used for good <br /> purposes; and <br /> <br />W~EREAS, these bonds are subject to voter approval on the November <br /> 2004 ballot and deserve rightful consideration by the citizens <br /> of the State; and <br /> <br />NOW, <br /> <br />THEREFORE, BE IT RESOLVED THAT the Cabarrus County Board of <br />Commissioners strongly supports self-financing development bonds <br />because now is the time to enhance our ability to create new <br />jobs and investment in our community/county. <br /> <br /> <br />