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%FHEREAS, the Authority has determined to issue its revenue <br />bonds to pay all or a portion of the costs of the acquisition, <br />construction and installation of an industrial facility in Cabarrus <br />County f~r the manufacture of corrugated point of purchase displays <br />for consumer goods and related products (the "Project"), to be <br />operated by Kettering Industries, Inc.; and <br /> <br /> WHEREAS, the Authority intends to file an application for <br />approval of the Project with the Secretary of the Department of <br />Commerce (the "Department"), as required by the Act; and <br /> <br /> WHEREAS, the Department has, by regulation, provided that no <br />application for approval of a project will be officially received <br />until the governing body of the County from which the application <br />is made has, by resolution after having held a public hearing, <br />approved the issue of revenue bonds and approved in principle the <br />proposed project and a certified copy of such resolution has been <br />provided to the Department; and <br /> <br /> WHEREAS, the Board of County Commissioners, pursuant to <br />public notice duly given, has held a public hearing on the pro- <br />posed revenue bond issue and Project and has considered the <br />comments of persons who requested to be heard; and <br /> <br /> WHEREAS, the Board of County Commissioners desires to approve <br />the issuance of revenue bonds and approve the Project in principle; <br />NOW, THEREFORE, <br /> <br /> BE IT RESOLVED by the Board of County Commissioners of the <br />County of Cabarrus as follows: <br /> <br /> (1) The issuance of revenue bonds by the Authority to <br /> finance the Project is hereby approved. <br /> <br /> (2) The Project is hereby approved in principle. <br /> <br /> (3) The Clerk of the Board of Commissioners is hereby <br /> authorized and directed to provide a certified copy of this <br /> resolution to the Department. <br /> <br /> (4) The Board of County Commissioners hereby requests <br /> that the State of North Carolina, pursuant to Executive Order <br /> 113 of ~he Governor of the State of North Carolina, allocate <br /> to the above-described revenue bonds and Project $1,200,000 <br /> of the Volume Limitation (as defined in said Executive <br /> Order), and the Chairman or Vice Chairman of said Board is <br /> hereby authorized to certify under penalties of perjury that <br /> this request is not made in consideration of any bribe, gift, <br /> gratuity, or direct or indirect contribution to any political <br /> campaign. <br /> <br /> (5) This resolution shall take effect immediately upon <br /> its passage. <br /> <br /> 3 <br /> <br /> <br />