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May 19, 2014 (Regular Meeting) Page 2017 Finance Authority, dated as of September 28, 2010, and Section 66.0304(11)(a) of the Wisconsin Statutes; WHEREAS, on April 25, 2014, a notice of public hearing was published in the Independent Tribune, setting forth a general, functional description of the type and use of the facilities to be financed, the maximum principal amount of the Bonds, the initial owner, operator or manager of the facilities and the location of the facilities, among other things; WHEREAS, the names, address and testimony of the persons who were present and who offered comments on the proposed issuance of the Bonds or who responded in writing to the notice of public hearing are as follows: [None] WHEREAS, the Chairman of the Board inquired elsewhere in and around the meeting room to determine whether there were any other persons who wished to speak at the public hearing and the Chairman of the Board determined that no other persons who wished to speak at the public hearing were found; and WHEREAS, the purpose of the above- described public hearing and this resolution is to satisfy the public approval requirement of Section 147(f) of the Internal Revenue Code of 1986, as amended (the " Code "), in order to qualify the interest on the Bonds for exclusion from the gross income of the owners thereof for federal income tax purposes pursuant to the applicable provisions of the Code; NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS FOR THE COUNTY OF CABARRUS, NORTH CAROLINA: Section 1. For the sole purpose of qualifying the interest on the tax - exempt portion of the Bonds for exclusion from the gross income of the owners thereof for federal income tax purposes pursuant to the applicable provisions of the Code, the Board hereby approves the issuance of the Bonds by the Authority for the purpose of providing funds to finance multiple charter school facilities including the Project, provided that in no event shall Cabarrus County, the State of North Carolina or any political subdivision thereof be liable for such Bonds nor shall the Bonds constitute a debt of Cabarrus County, the State of North Carolina or any political subdivision thereof. It is the purpose and intent of the Board that this resolution constitute approval of the issuance of the Bonds by the applicable elected representative of the Project Jurisdiction for the Project, which is the governmental unit having jurisdiction over the area in which the Project is located, in accordance with Section 147(f) of the Code and Section 66.0304(11)(a) of the Wisconsin Statutes and Section 4 of the Joint Exercise Agreement. Section 2. This resolution shall take effect immediately upon its passage. (G--2) Planning and Development - E911 /Addressing Services - _Proposed Street Name Change - Public Hearing 6:30 P.M. Susie Morris, Planning and Zoning Manager, presented a request for a proposed street name change. She advised Bonanza Drive was originally a single street, but several years ago, was split into two separate sections. The split in the street is causing problems with first- responders locating E911 calls on the section of Bonanza Drive that continues on to Wagonwheel Lane because it cannot be accessed from Mount Pleasant Road South using Bonanza Drive on account of the wooded area. Due to public safety concerns, the addresses on the section of Bonanza Drive that continues on to Wagonwheel Lane need to be changed to Wagonwheel Lane. This will provide one continuous street for E911 response. The section of Bonanza Drive that is accessed from Mount Pleasant Road South will remain as Bonanza Drive. She stated answers to questions from the work session meeting were emailed to the Board and advised a public hearing is required. Chairman Poole opened the public hearing at 7:18 p.m. The Public Hearing Notice was posted on the County's website ( ww%,u.cabarrus county. us ) on April 25, 2014 in accordance with Article 2, Administration, Section 2.1 (Use of Electronic Means to Provide Public Notices) of the Cabarrus County Code of Ordinances. There was no one present to address the Board; therefore Chairman Poole closed the public hearing.