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NOTICE OF PUBLIC MEARING ON PROPOSED <br /> REVENUE REFUNDING BONDS'FINANCED BY <br /> THE CABARRUS COUNTY INDUSTRIAL FACILITIES <br /> AND POLLUTION CONTROL FINANCING AUTHORITY <br /> <br /> Notice is hereby given that the Board of Commissioners of <br />Cabarrus County, North Carolina (the Board) will hold a public <br />hearing on the plan of The Cabarrus County Industrial Facilities <br />and Pollution Control Financing Authority (th~ Authority) to <br />assist Philip Morris Companies Inc. (the Company), the parent <br />company of Philip Morris Incorporated (the Subsidiary) to (a) <br />refund and redeem the outstanding principal amount of the <br />Authority's $1,000,000 original principal amount Industrial <br />Revenue Bonds (Philip Morris Incorporated Project) (the Prior <br />Issue) issued in 1982 to finance the acquisition and construction <br />of a cigarette manufacturing facility and the installation <br />thereon of two cigarette packing machines and (b) to refund and <br />redeem the outstanding principal amount of the Authority's <br />$5,000,000 original principal amount Pollution Control Revenue <br />Bonds (Philip Morris Project) issued in 1981 to finance the <br />acquisition, construction and installation of air and water <br />pollution control and solid waste disposal facilities and the <br />installation thereon of a dust collection system (collectively, <br />the Project), each located and installed at the Subsidiary's <br />facility located in Concord, Cabarrus County, North Carolina by <br />Philip Morris Incorporated. The refunding will require the <br />issuance by the Authority of $1,000,000 in principal amount of <br />its industrial development revenue refunding bonds and $5,000,000 <br /> <br /> <br />