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December 15, 2003 Page 317
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<br />County Fairgrounds property (the "Project") will stimulate the local economy,
<br />promote business and result in the creation of a substantial number of jobs in
<br />the County; and
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<br /> WHEREAS, for the purpose of accomplishing the sale of the Project, the
<br />Commissioners have determined that it is in the best interest of the County that
<br />the County and the Purchaser enter into a Contract for Sale dated on or about
<br />October 24, 2003 (the "Contract") to provide for the sale by the County to the
<br />Purchaser of the Project; and
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<br /> WHEREAS, the Commissioners hereby determine that a public hearing
<br />concerning the proposed sale of the Project to the Purchaser, after publication
<br />of notice with respect to such public hearing, was duly held on December 15, 2003
<br />at 6:30 p.m. in the Commissioners Chamber, Cabarrus County Governmental Center,
<br />65 Church Street, SE, Concord, North Carolina; and
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<br /> WHEREAS, the Commissioners hereby determine that the fair market value of
<br />the title to the Project is $432,000 per useable acre and that the consideration
<br />to be paid to the County by the Purchaser, is not less than said fair market
<br />value; and
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<br /> WHEREAS, the County hereby determines that the sale of said property will
<br />stimulate the economy by providing 45 jobs at an average annual wage of $10667;
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<br /> NOW, THEREFORE, BE IT RESOLVED, by the Board of Commissioners of Cabarrus
<br />County, North Carolina, that form and content of the contract shall be and the
<br />same hereby are in all respects authorized, approved and confirmed, and the
<br />Chairman of Cabarrus County, the County Manager of the County and the County
<br />Clerk shall be and they hereby are authorized, empowered and directed to execute
<br />and deliver the Contract, including necessary counterparts, in substantially the
<br />form and content presented to the Commissioners, but with such changes,
<br />modifications, additions or deletions therein as shall to them and County Legal
<br />Counsel seem necessary, desirable or appropriate, their execution thereof to
<br />constitute conclusive evidence of their approval of any and all changes,
<br />modifications, additions or deletions therein from the form and content of the
<br />Contract presented to the Commissioners, and that from and after the execution
<br />and delivery of the Contract, the Chairman of the County Commissioners, the
<br />County Manager of the County and the County Clerk are hereby authorized,
<br />empowered and directed to do all such acts and things and to execute all such documents
<br />as may be necessary to carry out and comply with the provisions of the Contract
<br />as executed;
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<br /> BE IT FURTHER RESOLVED, that the Chairman, the County Manager, the County
<br />Clerk and the Finance Director of the County are hereby authorized, empowered and
<br />directed to do any and all other acts and execute any and all documents necessary
<br />to consummate the transactions contemplated by this Resolution and the Contract,
<br />including anything required by (1) the specific provisions of this resolution,
<br />(b) the specific provisions of the Contract, (c) any agreement to which the
<br />County is bound, (d) any rule or regulation of the County or (3) any applicable
<br />law, statute, ordinance, rule or regulation of the United States of America or
<br />the State of North Carolina;
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<br /> BE IT FURTHER RESOLVED, that from and after the execution and delivery of
<br />the documents hereinabove authorized, the Chairman, the County Manager, the
<br />County Clerk and the Finance Director of the County are hereby authorized,
<br />empowered and directed to do all such acts and things and to execute all such
<br />documents as may be necessary to carry out and comply with the provisions of said
<br />documents as executed, and are further authorized to take any and all further
<br />actions to execute and deliver any and all other documents as may be necessary
<br />in the execution and delivery of the Contract; and
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<br /> BE IT FURTHER RESOLVED, that if any section, phrase or provision of this
<br />Resolution shall for any reason be declared to be invalid, such declaration shall
<br />not affect the validity of the remainder of the section, phrases or provisions
<br />of this Resolution.
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<br />This Resolution shall become effective on the date of its adoption.
<br />Adopted December 15, 2003
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<br />ATTEST: /s/ Frankie F. Bonds
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<br />Frankie F. Bonds, County Clerk
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<br />Board of Commissioners
<br />Cabarrus County
<br />North Carolina
<br />/s/ Robert M. Freeman
<br />
<br />Robert M. Freeman, Chairman
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<br /> RESOLUTION OF
<br />CABARRUS COUNTY, NORTH CAROLINA
<br />APPROVING THE CONTRACT FOR SALE WITH
<br />CENTDEV PROPERTIES LLC
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<br />Resolution No. 2003 - 40
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