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WHEREAS, under NCGS ~ 159C-4 and Section 147(f) of the In- <br /> ternal Revenue Code of 1986, as amended, the issuance of bonds <br /> under the Act must be approved by the governing body of the coun- <br /> ty in which the project to be financed under the Act is located; <br /> and <br /> <br /> WHEREAS, this Board thas previously held a public hearing <br /> <br />with respect to the Bonds and adopted a resolution on September <br />18, 1989, with respect to approval of the project to be financed <br />with the Bonds; <br /> <br /> NOW THEREFORE, the Board of Commissioners of Cabarrus Coun- <br />ty, meeting in regular session at the Cabarrus County Courthouse, <br />Concord, North Carolina, on November 6, 1989, do the following: <br /> <br /> BE IT RESOLVED BY THE BOARD OF COMMISSIONERS FOR THE COUNTY <br />OF CABARRUS: <br /> <br /> · .The issuance of the Authority's Tax-Exempt Adjustable Mode <br />Indus%rlal Development Revenue Bonds (Oiles America Corporation <br />Project), Series 1989, in the principal amount of $6,000,000 is <br />hereby approved. <br /> <br /> Co~issioner moved the passage of the fore- <br />going resolution and Commissioner seconded the <br />motion, and the resolution was pass~ by the following vote: <br /> <br /> Ayes: Co~unissioners <br /> <br /> Nays: <br /> <br /> Not voting: <br /> <br /> -2- <br /> <br /> <br />