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21 BE IT RESOLVED by the Board of Commissioners for the County of Cabarrus: Section 1. The Board of Commissioners has determined and does hereby declare as follows: A. .The Board of Commissioners of The Cabarrus County Industrial Facilities and Pollution Control Financing Authority (the "Authority") met on January 18, 1982 and took the following action in connection with the proposed issuance and sale of the Authority's Industrial Revenue Bonds (Piedmont Plastics, Inc. Project) in the principal amount of $2,000,000; (1) authorized the borrowing under and the issuance and performance of the Authority's Industrial Revenue Bonds (Piedmont Plastics, Inc. Project) in the principal amount of $2,000,000 and directed the execution and delivery of said Bonds; (2) approved and authorized the execution, delivery and per- formance of (a) the Bond Purchase Agreement among the Authority, Southern National Bank of North Carolina (the "Purchaser") and Piedmont Plastics, Inc. (the "Company"); (b) the Loan Agreement between the Authority and the Company, with the form of the Company's Notes attached as Exhibits A and B thereto; (c) the Security Agreement between the Company and the Authority; and (d) the Assignment between the Authority and the Purchaser; (3) approved the form of the Notes and authorized the endorsement thereof without recourse to the order of and the pledge thereof to the Purchaser; and (4) approved the form of (a) the Guaranty Agreement between the Company and the Purchaser: and (b) the Deed of Trust from the Company to James R. Bryant, III, Trustee for the Authority. B. The Board of Commissioners for the County of Cabarrus has reviewed the action taken by the Board of Commissioners of the Authority in connection with the issuance and sale of the Bonds and has made such other examination and investigation as it deems necessary and relevant as the basis for the approval set forth herein. Section 2. Pursuant to and in satisfaction of the requirements of Section 159C-4(d) of the General Statutes of North Carolina, the Board of Commissioners for the County of Cabarrus hereby approves the issuance by the Authority of the Authority's Industrial Revenue Bonds (Piedmont Plastics, Inc. Project) in the principal amount of $2,000,000. Section 3. The Clerk to the Board of Commissioners for the County of Cabarrus, North Carolina, is directed to file a certified copy of this resolution with the Department of Commerce. Section 4. This resolution shall take effect upon its passage. Commissioner Nash moved the passage of the foregoing Resolution and Commissioner Lentz seconded the motion, and the Resolution was passed by the following vote: Ayes: Commissioners Nash, Lentz, Cook, Payne, and Bonds Noes: Commissioners NONE UPON MOTION of Commissioner Lentz, seconded by Commissioner Payne and unanimously carried, the Board appointed Mr. John Parker to the Domiciliary Home Community Advisory Committee for a term of one year. This appointment was to fill the term of Ms. Opal Clayton who was unable to serve on this committee as appointed on December 21, 1981. Chairman Bonds called a work session for the Board of Commissioners at 7:00 P.M. on Tuesday, January 26, 1982, to review the text and atlas of the proposed Zoning Ordinance. UPON MOTION of Commissioner Cook, seconded by Commissioner Lentz and unanimously carried, the Board authorized Mr. Charles D. McGinnis, County Manager, to contact engineers to obtain information regarding decibels in relation to the noise section of the proposed Zoning Ordinance.