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Now, THEREFORE, BE IT RESOLVED by the Board of Commissioners of Cabarrus <br />County, North Carolina, as follows: <br /> <br /> (1) The proposed Trsn,~action consists of facilities for the disposal of sewage and solid <br />wastes (the "Project") at the manufacturing complex of the Company being constructed in <br />Cabarrus County, North Carolina near the City of Concord. <br /> <br /> (2) The Company has represented that it will request the Authority to issue exempt <br />facilities revenue bonds in an amount sufficient to finance costs of the Project, currently <br />estimated to be approximately $60,000,000. <br /> <br /> (3) This Board of Commissioners does hereby find and determine that the law fn-m of <br />Chapman and Cutler is qualified to serve as bond counsel for the Authority, in that: <br /> <br /> (a) The Firm has extensive experience serving as bond counsel and <br />capabilities in each of the following areas: North Carolina municipal law (including, in <br />particular, Chapter 159C of the General Statutes of North Carolina, the Industrial and <br />Pollution Control Facilities Financing Act): municipal finance and municipal securities <br />law; corporate finance and corporate securities law; and tax law; <br /> <br /> (b) The Finn has represented to the Authority that it is prepared to render an <br />independent unqualified approving opinion as to the validity of the bonds and as to the <br />exemption of interest on the bonds from federal income tax; <br /> <br /> (c) The Finn does not have a conflict of interest in serving as bond counsel; <br />the Firm has represented to the Authority that it will not represent the Company in the <br />Transaction, is not general counsel to the Company and is not currently representing the <br />Company in connection with any other matters; the Firm is not regular counsel for either <br />the Authority or the County; and <br /> <br />-2- <br /> <br /> <br />