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i <br /> <br /> EXTRACT FRO~MINUTES OF BOARD OF COMMISSIONERS OF <br /> THE COUNTY OF CABARRUS, NORTH CAROLINA <br /> <br /> The Board of Commissioners for the County of Cabarms, North Carolina, met in regular <br />session in the Commissioners~ Meeting Room in the Cabarms County Governmental Center in <br />Concord, North Carolina, theiregular place of meeting, at 6:30 p.m., on May 19, 2003, with <br /> ., Chairman, presiding. The following Commissioners were: <br /> <br />PRESENT: ; <br /> <br />ALSO PRESENT: <br /> <br /> The Chairman annour':ed that this was the date, place and hour fixed by the Board of <br />Commissioners for a public hearing concerning a proposed plan of financing in an aggregate <br />principal mount of up to $4~,000,000, which plan would involve the entry by the County into <br />an installment financing cont[..act with the Cabarrus County Development Corporation pursuant <br />to North Carolina General Sta~tutes Section 160A-20, as amended, with the proceeds thereof to be <br />used to pay all or a portion df the costs of acquiring real property, constructing and equipping <br />new public school facilities, ~cluding two new elementary schools and one new middle school, <br />expansion of two existing ~lementary school facilities, various real and personal property <br />improvements related to th~ foregoing and a portion of the interest to accrue under the <br />installment financing contradt during the construction period (collectively the "2003 Project"), <br /> <br />which 2003 Project was des~bed in the notice of public hearing published in The Independent <br /> <br /> <br />