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<br />EXTRACT FROM MINUTES OF <br />MEETING OF THE BOARD OF COMMISSIONERS FOR <br />THE COUNTY OFCABARRUS, NORTH CAROLINA <br /> <br />A regular meeting of the Board of Commissioners for the <br /> <br />County.of Cabarrus,North Carolina, was held in the <br /> <br />Commissioners' Meeting Room at the Cabarrus County Governmental <br /> <br />Center at 65 Church Street North East in Concord, North Carolina, <br /> <br />the regular place of meeting, at 6:30 P.M. on February 6,1995. <br /> <br />Present: Chairman Jeffrey L. Barnhart, presiding, and <br /> <br />commissioners <br /> <br />Arne L. Fennel, Sue B~ Casper, Franklin C. Niblock, Jr., <br /> <br />and Kenneth OlIo-Mills <br /> <br />. Absent: <br /> <br />None <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />* <br /> <br />commissioner Chairman Barnhart <br /> <br />introduced the following <br /> <br />resolution, a summary of which had been provided to each <br />Commissioner,which was read by title: <br /> <br />RESOLUTION DESIGNATING THE COUNTY MANAGER, <br />FINANCE DIRECTOR OR ASSISTANT FINANCE DIRECTOR TO <br />DECLARE OFFICIAL INTENT ON BEHALF OF THE COUNTY <br />TO REIMBURSE EXPENDITURES WITH PROCEEDS OF DEBT <br />PURSUANT TO UNITED STATES DEPARTMENT OF TREASURY <br />REGULATIONS <br /> <br />BE IT RESOLVED, by the Board of Commissioners (the <br />"Board") for the County of Cabarrus, North Carolina <br />(the "County"): <br /> <br />section 1. The Board hereby finds, determines and <br />declares as follows: <br /> <br />(a) Treasury Regulations section 1.150-2 (the <br />"Regulations"), promulgated by the United States <br />Department of Treasury on June 18, 1993, prescribes <br />certain specific procedures applicable to certain <br />obligations issued by the county after June 3D, 1993, <br />including, without limitation, a requirement that the <br />County timely declare its official intent to reimburse <br />