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RESOLUTION APPROVING THE ISSUANCE OF NOT" EXCEEDING <br /> $2,200,000 AGGREGATE PRINCIPAL AMOUNT OF INDUSTRIAL DE- <br /> VELOPMENT REVENUE BONDS OF THE CABARRUS COUNTY INDUS- <br /> TRIAL FACILITIES AND POLLUTION CONTROL FINANCING AU- <br /> THORITY TO FINANCE AN INDUSTRIAL PROJECT FOR 'S&D <br /> COFFEE, INC. <br /> <br /> WHEREAS, the Board of Commissioners for the County of <br />Cabarrus (the "Hoard") has created a political subdivision and <br />body corporate and politic of the State of North Carolina known <br />as "The Cabarrus County Industrial Facilities and Pollution Con- <br />trol Financing Authority" (the "Authority"); and <br /> <br /> WHEREAS, the Authority is authorized under the Indus- <br />trial and Pollution Control Facilities Financing Act, Chapter <br />159C of the General Statutes of North Carolina, as amended (the <br />"Act"), to issue industrial development revenue bonds for the <br />purpose, among others, of paying all or any part of the cost of <br />any industrial or pollution control project for industry; to <br />acquire, construct, improve and equip any such project; and to <br />make and execute financing agreements, security documents and <br />other contracts and instruments necessary or convenient in the <br />exercise of such powers; and <br /> <br /> WHEREAS, the Authority has determined to issue not <br />exceeding $2,200,000 aggregate principal amount of its industrial <br />development revenue bonds to pay all or a portion of the costs of <br />the construction of an addition to an existing production, ware- <br />housing and administrative facility, located at 300 U.S. Highway <br />29 South, Cabarrus County, North Carolina, including installation <br /> <br /> -4- <br /> <br /> <br />