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EXTRACTS PRO~ MINUTES OF BOARD OF CO~ISSIONERS OF THE COUNTY OF CABARRUS, NORTH CAROLINA The Board of Commissioners of the County of Cabarrus0 North Carolina, met in regular session at the Commissioners meeting room, in Concord, North Carolina, the regular place of meeting at 10:00 o'clock, A.M., on February 4, 1985 with__ Chairman presiding. The following Commissioners were: PRESENT: ABSENT: ALSO PRESENT: The Chairman stated that pursuant to Chapter 159C of the General Statutes of North Carolina and the regulations thereunder he had been advised that The Cabarrus County Industrial Facilities and Pollution Control Financing Authority (the "Authority") intended to file an application with the Secretary of the Depart- ment of Commerce for approval of an industrial and manufacturing project in Cabarrus County, North Carolina, consisting of the acquisition and rehabilitation of an existing 67,125 square foot manufacturing facility located on Commercial Park Drive in Concord, Cabarrus County, North Carolina for the manufacture of corrugated point of purchase displays for consumer goods (the "Project") by Marks & Marks, a North Carolina general partnership (the "Company") and to be financed for the Company by the issuance of approximately $1,200,000 aggregate principal amount of bonds of the Authority. The Project will be operated by Kettering Industries, Inc., a Delaware corporation (the "Operator"). Since such application for approval cannot, under regulations of the Department of Commerce, be officially received until, among other things, the Board has, by resolution after having held a public hearing, approved the issue of bonds for the proposed Project and approves the Project in principle, the Authority has recommended and requested that the Board pass such resolution. The Chairman presented copies of the Author~ty's resolution approving the Project and the inducement agreement between the Authority and the Company to the Board. The Chairman then stated that a notice had been published by the Clerk to the Board on January 18 , 1985 statin9 that the Board would hold a public hearing on February 4, 1985 on the proposed revenue bond issue and the Project (the "Notice").