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Section 2. The Clerk to the Board is hereby authorized <br /> directed to submit a certified copy of this Resolution to the <br />and <br /> <br />North Carolina Department of Conm~erce as an application for an <br />allocation for the Bonds and the Project under the North Carolina <br />ceiling for private activity bonds established under the Act (the <br />"Allocation"), and with respect to the Allocation, the Board of <br />Commissioners for the County of Cabarrus hereby agrees as fol- <br />lows: <br /> <br /> (i) The Allocation will be used only for the Bonds and <br /> only for the Project described above; <br /> <br /> (ii) The Allocation will be used within the time limits <br /> specified in the document granting the application for the <br /> Allocation or within any extension of those limits subse- <br /> quently granted by the North Carolina Department of Com- <br /> merce; <br /> <br /> (iii) The Board will allow, without contest, any unused <br /> portion of the Allocation to revert back to the State of <br /> North Carolina for use by other applicants; <br /> <br /> (iv) The Board will report, or will cause to be <br /> reported, to the North Carolina Department of Commerce the <br /> exact principal amount of the Bonds within ten (10) days of <br /> the date of issuance. <br /> <br /> (v) The Chairman or Vice Chairman of the Board is <br /> hereby authorized and directed to execute o~ behalf of the <br /> Board of the "no bribery" certificate attached hereto as <br /> Exhibit B. <br /> <br /> -5- <br /> <br /> <br />