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THE CHARLES A. CANNON CI~&RITABLE TRUST NO. ONE <br /> NORTHWESTERN BANK BUILDING <br /> POST OFFICE BOX 467 <br /> CONCORD, NORTH CAROLINA 28025 <br /> <br /> March 9, 1984 <br /> <br />Mr. James W. Lentz <br />Chairman, Cabarrus County <br />Board of Commissioners <br />Post Office Box 707 <br />Concord, North Carolina 28025 <br /> <br />Dear Mr. Lentz: <br /> <br />This is to inform you that the Trustees of The Charles A. Cannon <br />Charitable Trust No, One have approved a grant to Cabarrus County <br />in the amount of $500,000.00, and a check for that amount is enclosed. <br />The resolution of the Trust making the grant states that the grant is <br />"for the purpose of the following resolution: <br /> <br /> RESOLVED, that the sum of $500,000.00 is hereby granted to <br /> Cabarrus County for the purpose of constructing a branch <br /> library in Kannapolis, North Carolina, to be known as The <br /> Charles A. Cannon Memorial Library - Kannapolis Branch. <br /> <br /> RESOLVED FURTHER, that all funds donated pursuant to this <br /> resolution shall be placed by the County of Cabarrus in a <br /> separate trust account to be used only to construct a branch <br /> of The Charles A. Cannon'Memorial Library in Kannapoiis and <br /> until such use shall be invested in securities or accounts <br /> which are lawful for investment of public funds by North <br /> Carolina public bodies and that all earnings on such funds <br /> shall be used only for the purposes for which these funds <br /> are granted; and be it <br /> <br /> RESOLVED FURTHER, that if the County of Cabarrus shall not <br /> appropriate in its budget for its 1984-1985 fiscal year, <br /> sufficient funds so that, together with the funds donated <br /> pursuant to this resolution and other funds donated to the <br /> <br /> <br />