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B3/1512000 12:12 784-788-8858 HARTSELL & WHITE PAGE 02 <br /> <br />NORTH CAROLINA <br /> <br />CABARRUSCOUNTY <br /> <br />RESOLUTION <br /> <br />DRAFT <br /> <br /> WI~.REAS, the Cabarrus County Board of Education (the "School Board") owns <br />a 17.30 acre tract of land and structures thereon (the "Odell School Tract") and has <br />~med the Cabarrus County Board of Commissioners (thc "County") as its agent for the <br />disposition thereof; and <br /> <br /> WHEREAS, $ & B Management and Development ("1 & B") owns <br />approximately sixty-one ((51) acres of real property (the "51-Ac~e Tract") rough graded at <br />a value of at least an additional Three Hundred Thousand Dollars ($300,000.00) located <br />north of and adjacent to Harris Road and proposes to contribute Three Hundred Nifty <br />Thousand Dollars ($350,000.00) to assist in the placement and construction of adequate <br />school facilities in Cabarrus County consistent with County Ordinance; and <br /> <br /> WHEREAS, the County, as agent for the School Board, and J & B desire to <br />exchang~ the Odell School Property for the 61-Acre Tract and additional considerations <br />(the "Exchange"); and <br /> <br /> WHEREAS, the School Board may exchange real property belonging to the <br />School Board for oth~ real property by private negotiation if thc School Board receives <br />full and fair consideration in exchange; and <br /> <br /> WHEREAS, the County, as agent for the School Board, has dete~:i::iued that the <br />Exchang~ is appropriate, and has advertised its intention to consider a resolution <br />authorizing the Exchange for ten (10) days; and <br /> <br /> <br />