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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 Cabarms 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 />RESOLUTION APPROVING INSTALLMENT CONTRACT FINANCING <br />FOR VARIOUS PUBLIC IMPROVEMENT PROJECTS IN AN AGGREGATE <br />PRINCIPAL AMOUNT UP TO $30,000,000 AND THE EXECUTION AND <br />DELIVERY BY THE CABARRUS COUNTY DEVELOPMENT <br />CORPORATION OF CERTIFICATES OF PARTICIPATION RELATED <br />THERETO, AUTHORIZING THE EXECUTION AND DELIVERY OF <br />RELATED DOCUMENTS IN CONNECTION THEREWITH, AND <br />PROVIDING FOR CERTAIN OTHER RELATED MATTERS <br /> <br /> WHEREAS, the Board of Commissioners desires to approve a proposed plan of <br />financing in an aggregate principal amount of up to $30,000,000, which plan would involve the <br />entry by the County into an installment financing contract with the Cabarrus County <br />Development Corporation (the "Corporation") pursuant to North Carolina General Statutes <br />160A-20, as amended, the proceeds of which would be used to pay all or a portion of the costs of <br />acquiring real property, constructing and equipping new public facilities, including a school <br /> <br /> <br />