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<br />WHEREAS, the obligation of the County to pay Base Rentals and
<br />Additional Rentals (both as defined in the Lease) Shall constitute
<br />a limited obligation payable from revenues of the County not derived
<br />from the exercise of its taxing power;
<br />
<br />WHEREAS, the taxing power of the County is not pledged directly or
<br />indirectly to secure any moneys due to the Lessor; and
<br />
<br />WHEREAS, the Lessor desires to lease the County Facilities to the
<br />County pursuant to the terms and conditions of and for the purposes
<br />set forth in the Lease;
<br />
<br />WHEREAS, there has been presented to the Board of County
<br />Commissioners of the County the form of the Lease, a copy of which
<br />is attached hereto, which the County proposes to approve, enter into
<br />and deliver to effectuate the proposed amendments to the lease
<br />financing:
<br />
<br />WHEREAS, it appears that the Lease is in appropriate form and is an
<br />appropriate instrument for the purposes intended.
<br />
<br />NOW, THEREFORE, BE IT RESOLVED BY THE BOARD OF COUNTY COMMISSIONERS
<br />OF THE COUNTY OF CABARRUS, NORTH CAROLINA, AS FOLLOWS:
<br />
<br />Section 1. That all actions of the County in effectuating the
<br />proposed financing are hereby approved, ratified and authorized
<br />pursuant to and in accordance with the transactions contemplated by
<br />the Lease.
<br />Section 2, That the County approves the leasing of the County
<br />Facilities from the Lessor pursuant to and in accordance with the
<br />terms of the Lease, which will be'a valid, legal and binding
<br />obligation of the County in accordance with its terms. The form and
<br />content of the Lease are in all respects authorized, approved and
<br />confirmed, and the Chairman of the Board of County Commissioners of
<br />the County, or his designee, and the Clerk of the County are
<br />authorized, empowered and directed to execute and deliver the Lease
<br />for and on behalf of the County, including necessary counterparts,
<br />in substantially the form attached hereto, but with such changes,
<br />modifications, additions or deletions therein as shall to them seem
<br />necessary, desirable or appropriate, their execution thereof to
<br />constitute conclusive evidence of their approval of any and all such
<br />changes, modifications, additions or deletions, and that from and
<br />after the execution and delivery of the Lease, the Chairman, or his
<br />designee, and the Clerk are hereby authorized, empowered and
<br />directed to do all such acts and thing~ and to execute all such
<br />documents as may be necessary to carry out and comply with the
<br />provisions of the Lease as executed.
<br />Section 3. That the Chairman of the Board of County Commissioners
<br />and the Finance Director of the County are hereby designated as the
<br />County's representatives to act on behalf of the County in
<br />connection with the transactions contemplated by the Lease, and the
<br />Chairman and the Finance Director are authorized and directed to
<br />proceed with the leasing with option to purchase of the County
<br />Facilities in accordance with the Lease, and to seek opinions as a
<br />matter of law from the County Attorney, which the County Attorney is
<br />authorized to furnish on behalf of the County, and opinions of law
<br />from such other attorneys for all documents contemplated hereby as
<br />required by law. The Chairman of the Board of County Commissioners
<br />of the County, or his designee, the Clerk and the Finance Director
<br />of the County are authorized to execute and deliver for and on
<br />behalf of the County any and all additional certificates, documents,
<br />opinions or other papers and perform all other acts as may be
<br />required by the Lease or as they may deem necessary or appropriate
<br />in order to implement and carry out the intent and purposes of this
<br />Resolution.
<br />Section 4, That if any section, phrase or provision of this
<br />Resolution is for any reason declared to be invalid, such
<br />declaration shall not affect the validity of the remainder of the
<br />sections, phrases or provisions of this Resolution.
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