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December
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<br /> WHEREAS, Cabarrus County, North Carolina (the "County") is a fully and
<br />regularly created, organized and existing corporation of the State of North
<br />Carolina, existing as such under and by virtue of the Constitution, statutes and
<br />laws of the State of North Carolina; and
<br />
<br /> WHEREAS, the Cabarrus County Board of Commissioners ("Commissioners") has
<br />the power, pursuant to North Carolina General Statutes, Section 158-7.1 to convey
<br />interests in property by private negotiation'and may subject the property to such
<br />covenants, conditions and restrictions as the County deems to be in the public
<br />interest or necessary to carry out the purposes of that Section; and
<br />
<br /> WHEREAS, the Commissioners hereby determine that the sale to Centdev
<br />Properties LLC (the "Purchaser") of approximately 2.5 acres of the former County
<br />Fairgrounds property (the "Project") will stimulate the local economy, promote
<br />business and result in the creation of a substantial number of jobs in the
<br />County; and
<br />
<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 />December 15, 2003 (the "Contract") to provide for the sale by the County to the
<br />Purchaser of the Project; and
<br />
<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
<br />
<br /> WHEREAS, the Commissioners hereby determine that the fair market value of
<br />the title to the Project is $200,000 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
<br />
<br /> WHEREAS, the County hereby determines that the sale of said property will
<br />stimulate the economy by providing 15-20 jobs as an average hourly wage of $9;
<br />
<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
<br />documents as may be necessary to carry out and comply with the provisions of the
<br />Contract as executed;
<br />
<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;
<br />
<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
<br />
<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.
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