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documents and other contracts and instruments necessary or conven- ient in the exercise of such powers; and WHEREAS, the Authority has determined to issue its revenue bonds to pay all or a portion of the costs of the expansion, renovation and equipping of an existing industrial facility in Cabarrus County for the purposes of producing surface-mount assemblies on a custom basis for all segments of the electronics industry (the "Project"), to be operated by SFE Technologies and Orchard Electronics, Inc. WHEREAS, the Authority intends to file an application for approval of the Project with the Secretary of the Department of Commerce (the "Department"), as required by the Act~ and WHEREAS, the Department has, by regulation, provided that no application for approval of a project will be officially received until the governing body of the County from which the application is made has, by resolution after having held a public hearing, approved the issue of revenue bonds and approved in principle the proposed project and a certified copy of such resolution has been provided to the Department; and WHEREAS, the Board of County Commissioners, pursuant to public notice duly given, has held a public hearing on the proposed revenue bond issue and Project and has considered the comments of persons ~o requested to be heard; and WHEREAS, the Board of County Commissioners desires to approve the issuance of revenue bonds and approve the Project in principle; NOW, THEREFORE, BE IT RESOLVED by the Board of County Commissioners of the County of Cabarrus as follows: (1) The issuance of revenue bonds by the Authority to finance the Project is hereby approved. (2) The Project is hereby approved in principle. (3) The Clerk of the Board of Commissioners is hereby authorized and directed to provide a certified copy of this resolution to the Department. (4) This resolution shall take effect immediately upon its passage. 3