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EXTRACT FROM MINUTES OF BOARD OF COMMISSIONERS OF THE COUNTY OF CABARRUS, NORTH CAROLINA <br /> <br /> The Boardof Commissioners of the County of C~barrus, North <br /> Caroiina (the "Board"), met in regUlar session in the <br /> Commissioners Room, Cabarrus County Courthouse, in Concord, North <br /> Carolina, the regu!ar place of meeting at 7:00 o'clook, P.M., on <br /> September 19, 1988 with Chairman __ presiding. The <br /> following'Commissioners were: <br /> <br /> PRESENT: <br /> <br /> ABSENT: <br /> <br /> ALSO PRESENT: <br /> <br /> The chairman stated that purs'~ant to Chapter 159C of the <br />General Statutes Of North Carolina.and the regulations thereunder <br />he had been advised that The Cabarrus County Industrial <br />Facilities and Pollution Control Financing Authority(the <br />?Authority") intended~to file an application with ithe Secretary <br />of the Department~of Commerce.for approval of an~industrial and <br />manufacturing'projectin CabarrusCou~ty, North Carolina, <br />consisting of the'partial renovation'of an~existing ' .. <br />manufacturing faei~lityand the acquisition and installation of <br />"machinery andeqUipm~nt- in Such facility for the manufacture of <br />yarn (the "Project") by Kindley Yarns,'[Inc~, a North-Carolina <br />co~poration (the "company") andre be3 financed for the CO~i~pany by <br />the issuance of approximately $3,500~000 aggregate principal <br />amount of bonds of the Authority. Such-application .for approval <br />cannot, under regulations, of the Department ~fCommerce, be <br />officially received until, among other things, the Board has, by <br />resolution after having~held a public h~ring,~app~oved the issue <br />of bonds for the proposed Project and approved the Project in <br />principle. <br /> <br /> The Chairman presented to the Board Copies of the <br />Authority's resolution~approving the Project'.a'nd theinducement <br />agreement between ~he Authority and the C0m~any. The Chairman <br />then stated that a notice had been published by the Clerk to the <br />Board on September , 1988 stating that the Board would hold a <br />public.hearing On september 1'9, 1988 on the proposed revenue bond <br />issue and the Project (the "Notice{'). <br /> <br /> Commissioner moved that theBoard ratify the <br />publication of the Not~ce and designate th~s meeting as a public <br />hearing on the revenue bond issue and'the Project. The motion <br /> <br /> <br />