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107 <br /> <br /> Section 1. The Board of Commissioners has determined and <br />does hereby declare: <br /> <br /> (a) That under and pursuant to the provision of Chapter <br /> <br />159C of the General Statutes of North Carolina, as amended (the <br />"Act"), and particularly Section 159C-4 thereof, the Board of <br />Commissioners has filed with the Department of Commerce of the <br />State of North Carolina and the Local Government Commission of <br />North Carolina, and each has received, at least 30 days ago, <br />notice of its intention to create, in accordance with the pro- <br />visions of the Act, "The Cabarrus County Industrial Facilities <br />and Pollution Control Financing Authority" (the "Authority"). <br /> <br /> (b) That the purposes for which the Authority is to be <br />formed are as follows: (i) to aid in the financing of industrial <br />and manufacturing facilities for the purpose of alleviating <br />unemployment or raising below average manufacturing wages by <br />financing industrial and manufacturing facilities which provide <br />job opportunities or pay better wages than those prevalent in <br />the area, but only where there is a direct or indirect favorable <br />impact on employment commensurate with the size and cost of <br />the facilities, (ii) to aid in financing pollution control <br />facilities for industry in connection with manufacturing and <br />industrial facilities and for public utilities, but only where <br />there is an improvement in the degree of prevention or control <br />of pollution commensurate with the size and cost of the facilities, <br />and (iii) to conduct any and all other activities as shall from <br />time to time be found to be appropriate in connection with the <br />foregoing and as are lawful under the Act, as the same may be <br />from time to time amended. <br /> <br /> Section 2. There is hereby authorized and created under <br /> <br />and pursuant to the Act a political subdivision and body <br />corporate and politic of the State of North Carolina known as <br />"The Cabarrus County Industrial Facilities and Pollution Control <br />Financing Authority". <br /> <br /> Section 3. In furtherance of the foregoing purposes, the <br />Authority shall have all powers granted by the Act, as the same <br />may be from time to time amended, and such other powers as are <br />now, or hereafter may be, conferred by law upon an authority <br /> <br /> <br />