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EXTRACT FROM MINUTES OF BOARD OF COMMISSIONERS OF <br /> <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 July 22, 2002, with <br />Robert M. Freeman, Chairman, presiding. The following Commissioners were: <br /> <br />PRESENT: <br /> <br />ABSENT: <br /> <br />ALSO PRESENT: <br /> <br /> The Chairman announced 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 amount of up to $30,000,000, which plan would involve the entry by the County into <br />an installment payment contract pursuant to North Carolina General Statutes Section 160A-20, <br />as amended, with the proceeds thereof to be used to pay all or a portion of the costs of acquiring <br />real property, constructing and equipping new public facilities, including a school administrative <br />building, several additional gym facilities and an expo center and improvements related to the <br />foregoing (collectively the "2002 Project"), which 2002 Project was described in the notice of <br />public heating published in The Independent Tribune on July 5, 2002 (the "Notice"), and under <br />said installment payment contract the County would secure the repayment by it of moneys <br /> <br /> <br />