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348
<br />
<br /> (a) The Board of Commissioners of The Cabarrus County
<br /> Industrial Facilities and Pollution Control Financing
<br /> Authority (herein referred to as the "Authority") met
<br /> on September 7, 1979 and took the following action in
<br /> connection with the proposed issuance and sale of the
<br /> Authority's IndusArial Revenue Bonds (Marmon Group
<br /> Project), Series 1979, in the principal amount of
<br /> $2,500,000:
<br /> (1) authorized acceptance of a Deed, dated as of
<br /> September 1, 1979, from Fenestra Corporation to the
<br /> Authority;
<br /> (2) authorized acceptance of a Bill of Sale, dated
<br /> as of September 1, 1979, from Fenestra C~?~oration to
<br /> the Authority;
<br /> (3) approved and authorized the execution and delivery
<br /> of a Lease Agreement, dated as of September 1, 1979, by
<br /> and between Fenestra Corporation and the Authority and
<br /> guaranteed by The Marmon Group, Inc., the parent company
<br /> of Fenestra Corporation;
<br /> (4) approved and authorized the execution and delivery
<br /> of an Indenture, Deed of Trust and Security Agreement
<br /> dated as of September 1, 1979, from the Authority to
<br /> First Union National Bank, as Trustee;
<br /> (5) approved the form of a Guaranty Agreement from The
<br /> Marmon Group, Inc., dated as of September 1, 1979, to
<br /> the Trustee;
<br /> (6) approved a Bond Purchase Agreement, dated September
<br /> 1, 1979, among Aetna Casualty and Surety Company of
<br /> Illinois, the Authority, Fenestra Corporation and The
<br /> Marmon Group, Inc.; and
<br /> (7) authorized the Authority's Industrial Revenue Bonds
<br /> (Marmon Group Project), Series 1979, in the aggregate
<br /> principal amount of $2,500,000, and directed the execution
<br /> and delivery of said Bonds.
<br /> (b) The Board of Commissioners for the County of Cabarrus
<br /> has reviewed the action taken by the Board of Commissioners
<br /> of the Authority in connection with the issuance and sale
<br /> of the Bonds, including a review of the documents authorized
<br /> and approved as specified above in substantially the forms
<br /> presented to the Board of Commissioners of the Authority
<br /> at their meeting on September 7, 1979, and was made such
<br /> other examination and investigation as it deems necessary
<br /> and relevant as the basis for the approval set forth herein.
<br /> Section 2. Pursuant to and in satisfaction of the require-
<br /> ments of Section 159C-4(d) of the General Statutes of North
<br /> Carolina, the Board of Commissioners for the County of
<br /> Cabarrus hereby approves the issuance by the Authority of
<br /> its Industrial Revenue Bonds (Marmon Group Project), Series
<br /> 1979, in the aggregate principal amount of $2,500,000.
<br /> Section 3. This resolution shall take effect immediately
<br /> upon its passage.
<br /> Commissioner Milloway moved the passage of the foregoing res-
<br />olution and Commissioner Lentz seconded the motion, and the resolution
<br />was passed by the following vote:
<br /> Ayes: Commissioners Cook, Bonds, Milloway, Allen and Lentz
<br /> Noes: None
<br /> UPON ~TION of Commissioner Milloway, seconded by Commissioner
<br />Bonds and unanimously carried, the Board adopted the following
<br />Application for Law Enforcement Officers Professional Liability
<br />Insurance, Alternative B.
<br /> ~laims Made Basis
<br />
<br /> This is an application for a claims made policy and as such
<br />the coverage of this policy is limited generally to liability for
<br />only those claims that are first made against the insured during
<br />the policy period and subsequent to the retroactive date of the
<br />policy.
<br />
<br />1. Name of Applicant: Cabarrus County
<br />2a. Address (No. & Street): P.O. Box 707
<br />2b. P.O., City, State & Zip Code: Concord, North Carolina 28025
<br />2c. County Population: 74,000
<br /> 3a. Present or Last Insurer: National Sheriff's Association
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