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RESOLUTION AUTHORIZING THE APPROVAL IN PRINCIPLE <br /> OF AN INDUSTRIAL PROJECT IN CABARRUS COUNTY, NORTH <br /> CAROLINA, TO BE FINANCED FOR CRAFTSMEN FABRICS <br /> INcUS~RIES~ INCORPORATED, BY THE IssUANCE OF <br /> INDUSTRIAL REVENUE BONDS OF THE CABARRUS COUNTY <br /> INDUSTRIAL FACILITIES AND POLLUTION CONTROL <br /> FINANCING AUTHORITY IN AN AGGREGATE PRINCIPAL <br /> AMOUNT NOT TO EXCEED $4,000,000 AND AUTHORIZING AN <br /> APPLICATION TO THE NORTH CAROLINA DEPARTMENT OF <br /> COF~dERCE FOR A PRIVATE ACTIVITY BOND ALLOCATION <br /> FOR SUCH PROJECT AND BONDS. <br /> BE IT RESOLVED by the Board of Con~issioners for the <br /> <br />County of Cabarrus: <br /> Section 1. The proposed industrial project to consist <br />of acquiring approximately 12 acres of land (the "Land"), <br />rehabilitating and renovating an existing manufacturing building <br />containing approximately 110,000 square feet of space and located <br />on the Land at 280 Manor Avenue, Concord, North Carolina (the <br />-Existing Building"), constructing on the Land a building addi- <br />tion to the Existing Building containing approximately 60,000 <br />square feet of space (the "Addition"), and acquiring and install- <br />ing in the Existing Building and the Addition certain new <br />machinery and equipment (the ,'Equipment"; the Land, the Existing <br />Building, the Addition and the Equipment hereinafter collectively <br />called the ..Project"), all of which will be used by the Company <br />in the dyeing and finishing of circular knit fabric and rslated <br />products, all or a portion of the cost of which is to be financed <br />by issuance of industrial revenue bonds of the Authority ill an <br />aggregate principal amount not to exceed $4,000,000 (the "Bonds") <br />is hereby approved in principle. <br /> <br /> -4- <br /> <br /> <br />