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526
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<br />motion, and the resolution was passed by the following vote:
<br /> Ayes: Bonds, Nash, Cook, Lentz, and Payne
<br /> Noes: None
<br />
<br /> I, FranRie F. Small, Clerk to the Board of Commissioners for the
<br />County of Cabarrus, North Carolina, DO HEREBY CERTIFY that the foregoing
<br />is a true and complete copy of so much of the proceedings of the Board of
<br />Commissioners for said County at a meeting held May 18, 1981, as relates
<br />in any way to the resolution hereinabove set forth, and that said pro-
<br />ceedings are recorded in Minute Book No. 17 of the minutes of said Board,
<br />beginning at page 525 and ending at page 526.
<br /> I HEREBY FURTHER CERTIFY that a schedule of regular meetings of
<br />said Board, stating that regular meetings of said Board are held on the
<br />1st Monday at 9:30 a.m. and the 3rd Monday at 7'o'clock p.m. of each month
<br />in the County Commissioners Room, Cabarrus County Courthouse, in Concord,
<br />North Carolina, has been on file in my office pursuant to G.S. 143-318.12
<br />as of a date not less than seven days before said meeting.
<br /> WITNESS my hand and the common seal of said County, this 22nd day
<br />of May, 1981.
<br /> /s/ Frankie F. Small
<br /> Clerk to the Board of Commissioners
<br />
<br /> Mr. John Boger presented to the Commissioners a copy of a resolution
<br />adopted by The Cabarrus County Industrial Facilities and Pollution Control
<br />Financing Authority approving the law firm of Kennedy, Covington, Lobdell
<br />& Hickman, Charlotte, North Carolina, to act as Bond Counsel in connection
<br />with bond financings under Chapter 159C of the North Carolina General Statutes.
<br />The Board was furnished with a Statement of Qualification of the law firm of
<br />Kennedy, Covington, Lobdell & Hickman to act as Bond Counsel.
<br /> Thereafter, Commissioner Nash introduced the following resolution
<br />which was read:
<br />
<br />RESOLUTION APPROVING THE LAW FIRM OF KENNEDY,
<br />COVINGTON, LOBDELL & HICKMAN, CHARLOTTE, NORTH
<br />CAROLINA, COUNSEL IN CONNECTION WITH THE ISSUANCE BY
<br />THE CABARRUS COUNTY INDUSTRIAL FACILITIES AND POLLUTION
<br />CONTROL FINANCINg AUTHORITY OF BONDS PURSUANT TO
<br />CHAPTER 159C OF THE NORTH CAROLINA GENERAL STATUTES.
<br />
<br /> BE IT RESOLVED, by the Board of Commissioners for the County of
<br />Cabarrus:
<br /> Section 1. The~Board of Commissioners has reviewed the Statement
<br />of Qualification of Kennedy, Covington, Lobdell & Hickman to act as Bond
<br />Counsel, a copy of which is attached to and made a part of this resolution
<br />and based thereon on the recommendation of The Cabarrus County Industrial
<br />Facilities and Pollution Control Financing Authority (the "Authority~'),
<br />the Board of Commissioners finds as follows:
<br /> 1. Kennedy, Covington, Lobdell & Hickman is a law firm with
<br />its only office in Charlotte, North Carolina and has capabilities in each
<br />of the following areas:
<br /> (a) North Carolina municipal law including, in
<br /> particular, Chapter 159C of the North Carolina General Statutes,
<br /> the Industrial and Pollution Control Facilities Financing Act; (b) Municipal finance and municipal securities law;
<br /> (c) Corporate finance and corporate securities law; and
<br /> (d) Tax law including Section 103 of the Internal Revenue
<br /> Code.
<br /> 2. Kennedy, Covington, Lobdell & Hickman is prepared to render
<br />an independent unqualified approving opinion as to the validity of bonds
<br />issued by the Authority and as to the exemption of interest on the bonds
<br />from North Carolina and Federal income tax.
<br /> 3. Kennedy, Covington, Lobdell & Hickman has indicated that
<br /> it will not permit to exist a situation in which it will have a conflict
<br /> of interest in serving as Bond Counsel.
<br /> 4. The basis upon which Kennedy, Covington, Lobdell & Hickman
<br /> fixes legal fees is reasonable and acceptable to the Authority.
<br />
<br />
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