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BOARD OF COMMISSIONERS <br /> OF <br />CABARRUS COUNTY, NORTH CAROLINA <br /> <br /> Excerpts of Minutes <br />of Meeting on June 11, 1996 <br /> <br /> Present: <br />Commissioners: <br /> <br /> Absent: <br /> <br />Chairman <br /> <br />, presiding, and <br /> <br /> The following resolution was introduced and the title was read: <br /> <br /> RESOLUTION APPROVING ISSUANCE OF INDUSTRIAL <br /> DEVELOPMENT REVENUE BONDS BY THE CABARRUS COUNTY <br /> INDUSTRIAL FACILITIES AND POLLUTION CONTROL <br /> FINANCING AUTHORITY FOR S&D COFFEE, INC. IN THE <br /> AGGREGATE PRINCIPAL AMOUNT OF UP TO $6,700,000 <br /> <br /> WHEREAS, The Cabarrus County Industrial Facilities and Pollution Control Financing <br />Authority (the Authority) has agreed to assist in the financing under the North Carolina <br />Industrial and Pollution Control Facilities Financing Act (the Ac0 of an expansion to an existing <br />coffee manufacturing facility in Cabarrus County by S&D Coffee, Inc.; and <br /> <br /> WHEREAS, the Authority intends to issue its Tax-Exempt Adjustable Mode Industrial <br />Development Revenue Bonds (S&D Coffee, Inc. Projec0 Series 1996 (the Bonds) in the <br />principal amount of $6,700,000; and <br /> <br /> WHEREAS, under Section 159C-4 of the Act the issuance of bonds under the Act must <br />be approved by the governing body of the county in which the project to be financed under the <br />Act is located; and <br /> <br /> <br />