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MINUTES OF PUBLIC I-IEARI2'qG AND RESOLUTION <br />OF THE BOARD OF COMMISSIONERS FOR THE <br />COUNTY OF CABARRUS, NORTH CAROLINA <br /> <br /> The Board of Commissioners for the County of Cabarrus, North Carolina, met in the <br />Commissioner's Meeting Room at the Cabarrus County Government Center, on Monday, September 17, <br />2001 at 6:30 p.m. <br /> <br />The following were: <br /> <br />Present: Commissioners <br /> <br />Absent: Commissioners <br /> <br />Also Present: <br /> <br /> At __:__ p.m., announced that the Board of Commissioners <br />for the County of Cabarrus (the "Board") would proceed to hold a public hearing and would hear anyone <br />who wished to be heard on the proposed issuance by The Cabarrus County Industrial Facilities and <br />Pollution Control Financing Authority (the "Authority") of not exceeding $8,300,000 aggregate principal <br />amount of its Tax-Exempt Adjustable Mode Recreational Facilities Revenue Bonds (the "Bonds"), the <br />proceeds of which will be loaned to the Cannon Memorial Young Men's Christian Association, a North <br />Carolina nonprofit corporation (the "YMCA "), for the purpose of financing the cost of (1) constructing, <br />equipping and furnishing a recreational facility located in Concord, North Carolina (2) renovating the <br />YMCA's existing recreational facility located in Kannapolis, North Carolina and (3) other improvements <br />related to the tax-exempt purpose of the YMCA (collectively, the "Project"). The Project will be located <br />at Afton Village near the intersection of 1-85 and Crisco Road in Concord, Cabarrus County, North <br />Carolina and 101 YMCA Drive, Kannapolis, Cabarrus County, North Carolina and will be owned and <br />operated by the YMCA. <br /> <br /> It was stated that the Authority had adopted a resolution expressing its intention to issue the <br />Bonds. Copies of the resolution were then submitted to the Board. <br /> <br /> The Clerk to the Board presented an affidavit of an officer of The Independent Tribune, showing <br />publication on or before September 3, 2001, which is a date at least 14 days prior hereto, of notice of the <br />public hearing. It was directed that the affidavit of publication be attached to this extract of minutes as <br />Exhibit A. <br /> <br />CLT:556886.2 <br /> <br /> <br />