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2002 ~a~e ~0 It was requested that the Clerk to the Board inquire to determine whether there were any persons who wished to speak at the public hearing. The names and addresses of the persons who were present and who offered comments on the proposed issuance of the Bonds to finance the Project and a summary of their comments are listed on Exhibit B. After the Board had heard all persons who had requested to be heard, Commissioner Fennel moved that the public hearing be closed. The motion was seconded by Vice Chairman Carruth and was unanimously adopted. Commissioner Fennel introduced the following resolution, a copy of which had been distributed to each Commissioner and the title of which appeared on the agenda: Resolution No. 2002-27 RESOLUTION APPROVING THE ISSUANCE BY THE CABARRUS COUNTY INDUSTRIAL FACILITIES AND POLLUTION CONTROL FINANCING AUTHORITY OF ITS $9,500,000 AGGREGATE PRINCIPAL AMOUNT OF TAX-EXEMPT ADJUSTABLE MODE RECREATIONAL FACILITIES REVENUE BONDS FOR THE PURPOSE OF PAYING FOR CERTAIN RECREATIONAL FACILITIES IN CABARRUS COUNTY, NORTH CAROLINA. BE IT RESOLVED by the Board as follows: Section 1. Pursuant to and in satisfaction of the requirements of Section 159C-8(c) of the General Statutes of North Carolina, the Board hereby approves the issuance by the Authority of its Tax-Exempt Adjustable Mode Recreational Facilities Bonds in the aggregate principal amount of not to exceed $9,500,000 for the purpose of financing the cost of (1) constructing, equipping and furnishing a recreational facility located in Concord, North Carolina, (2) renovating the YMCA's existing recreational facility located in Kannapolis, North Carolina and (3) other improvements related to the tax- exempt purpose of the YMCA. Section 2. passage. This resolution shall take effect immediately upon its Commissioner Fennel moved passage of the foregoing resolution. Vice Chairman Carruth seconded the motion, and the resolution was passed by the following vote: Ayes: Commissioners Fennel and Suggs, Vice Chairman Carruth and Chairman Freeman Noes: None Abstaining: None EXHIBIT A (Affidavit of Publication from THE INDEPENDENT TRIBUNE Dated July 2, 2002) EXHIBIT B Gray Stallworth, President and CEO of the Cannon Memorial YMCA, 101 YMCA Drive, Kannapolis, briefly commented on the proposed issuance of bonds to finance the YMCA project. He stated plans for the project are now complete, and the YMCA is ready to' begin construction. [F-2(a)] Proposed Financing for School A~nistrative Facilities and Expo Center - Public Hearing - 6z30 p.m Building, The Chairman announced that this was the date, place and hour fixed by the Board of Commissioners for a public hearing concerning a proposed plan of financing in an aggregate principal amount of up to $30,000,000, which plan would involve the entry by the County into an installment payment contract pursuant to North Carolina General Statutes Section 160A-20, as amended, with the proceeds thereof to be used to pay all or a portion of the Costs of acquiring real property, constructing and equipping new public facilities, including a school administrative building, several additional gym facilities and an expo center and improvements related to the foregoing (collectively the "2002 Project"), which 2002 Project was described in the notice of public hearing published in The Independent Tribune on July 5, 2002 (the "Notice"), and under said installment payment contract the County would secure the