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project; and to make and execute financing agreements, security <br />documents and other contracts and instruments necessary or conven- <br />ient in the exercise of such powers; and <br /> <br /> WHEREAS, 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 project in Cabarrus <br />County for the manufacture of doors, windows and related products <br />(the "Projec-t"), to be operated by Morriso~ Millworkj 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 pro3ect 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 proposed <br />revenue bond issue and Project and has considered the comments of <br />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, BE IT RESOLVED by the Board of County Commissioners <br />of the 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) This resolution shall take effect immediately upon <br /> its passage. <br /> <br /> Commissioner moved the passage of the foregoing <br />resolution and Commissioner seconded the motion, and <br />the resolution was passed by the following vote: <br /> <br /> AYES: <br /> <br /> NAYs: <br /> <br /> 3 <br /> <br /> <br />