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W~EREAS, The Cabarrus County Industrial Facilities and <br />Pollution Control Financing Authority (the "Authority") has <br />entered into a Memorandum of Agreement with S&D Coffee, Inc~, a <br />North Carolina corporation (the "Company"), for the purpose of <br />declaring the Authority's intention to provide financing in con- <br />nection with the expansion by the Company of an existing indus- <br />trial facility at U.S. Highway 29 South and Rock Hill Church Road <br />in Cabarrus County and the acquisition of certain equipment for <br />the prodUction of cOffee (all of which beinglreferred to herein <br />collectively as the "Project"), through the issuance and sale of <br />one or more issues of the Authority's industrial revenue bonds in <br />an aggregate principal amount not exceeding $2.5 million; and <br /> <br /> WHEREAS, the Company has asked the Authority and this <br />Board to approve the law firm of Fleming, Robinson, Bradshaw & <br />Hinson, P.A., Charlotte, North Carolina (the "Firm"), to act as <br />bond counsel in connection with the issuance of the Authority's <br />industrial revenue bonds financing all or a portion of the cost <br />of the Project; and <br /> <br /> WHEREAS, the Firm has submitted a written statement to <br />the Authority, with a copy to the Board of Commissioners for the <br />County of Cabarrus and to the Secretary of the Local Government <br />Commission, a division of the Department of the State Treasurer, <br />showing that the Firm meets the following criteria: <br /> <br /> 1. The Firm has an office in Charlotte, Mecklenburg <br />County, North Carolina, and has capabilities in each of the fol- <br />lowing areas: <br /> <br /> a) North Carolina municipal law including, in parti- <br /> cular, The Industrial and Pollution Control Facilities <br /> Financing Act, Chapter 159C of the North Carolina General <br /> Statutes; <br /> <br /> b) Municipal finance and municipal securities law; <br /> <br /> c) Corporate finance and corporate securities law; <br /> and <br /> <br /> d) Tax law including Section 103 of the Internal <br /> Revenue Code. <br /> <br /> 2. The Firm is prepared to render an independent, <br />unqualified approving opinion as to the validity of the indus- <br />trial revenue bonds of the Authority to be issued in connection <br />with the Project and as to the exemption of interest on such <br /> <br /> -2- <br /> <br /> <br />