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472 Commissioner Barnhardt introduced a resolution relating to the foreclosure of farm loans as requested by a Mr. Chandler of Midland. He stated that Mr. Chandler, who is a member of the Board of Directors of the United Farm Agency, would be attending a meeting in Pittsburg this week and wished to take this resolution for presentation at the meeting. Commissioner Upright asked that textile workers be included in the proposed resolution regarding the foreclosure of loans. The Board took no action on this request. UPON MOTION of Commissioner Barnhardt, seconded by Chairman Lentz with Commissioners Barnhardt and Hamby and Chairman Lentz voting for and Commissioner Upright voting against, the Board adopted the following resolution. RESOLUTION WHEREAS, many business concerns, including agriculture are facing uncertain economic times; and WHEREAS, due to the strong U. S. dollar in the world market, increased imports, the long-term effects of high interest rates on old loans, and the cumulative effect of inflation; and WHEREAS, the profitability of farming has decreased drastically on all farm crops and livestock; and the decrease in profitability on U.S. made products when competing with imports; and WHEREAS, decreased productivity and income has a multiplier effect on the economy, that when the farm income is down, it has a direct impact on the income of merchants and thus on manufacturers in our county, our state and our nation; and WHEREAS, the final effect of the economy is the closing of busi- nesses, the merger of businesses, and the foreclosure of businesses and the liquidation of farms. NOW, THEREFORE, BE IT RESOLVED, that the Board of Commissioners of Cabarrus County requests lending institutions, the state government and the federal government refrain from pursuing foreclosures .for the calendar year 1986. BE IT FURTHER RESOLVED, that the lending institutions and various governmental agencies work with the financially depressed accounts and assist in reorganizing the debts. In this way, the lenders stand a better chance of recovering the monies loaned and the debtors stand a better chance of remaining viable in their business concerns. Adopted this 10th day of June, 1986. /s/ James W. Lentz James W. Lentz, Chairman Cabarrus County Board of Commissioners ATTEST: /s/ Frankie F. Small Frankie F. Small, Clerk There being no further business to come before the Board, the meeting recessed until 2:00 P.M. on Friday, June 13, 1986. Clerk to the Board