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245 <br /> <br />5 Chevy 4-Door 1985 Impala 1 - Chevy 4 Door 1988 Caprice <br /> (SN 2506, 2929, 2496, 1110, 2515) (SN 6319) <br />1 - Ford 1984 F-250 Pick-Up 1 - Chevy 4 Door 1987 Caprice <br /> (SN 6397) (SN 9811) <br />1 - Chevy 4 Door 1984 Impala <br /> (SN 0887) <br /> <br />Contracts for Trust Fund Management by the Finance Department <br /> <br />A, The Greater Cabarrus County Economic Development Corporation <br />B. The Cabarrus County Tourism Authority <br /> <br /> UPON MOTION of Commissioner Fennel, seconded by Commissioner Carpenter and <br />unanimously carried, the Board approved the following Agreements with The Greater <br />Cabarrus County Economic Development Corporation and The Cabarrus County Tourism <br />Authority. <br /> <br />NORTH CAROLINA <br />CABARRUS COUNTY <br /> <br />AGREEMENT <br /> <br /> THIS AGREEMENT, made and entered into as of the 1st day of <br />July, 1994, by and between CABARRUS COUNTY, a body politic and <br />subdivision of the State of North Carolina (hereinafter referred to <br />as the "COUNTY"); and THE GREATER CABARRUS COUNTY ECONOMIC <br />DEVELOPMENT CORPORATION, a non-profit corporation organized and <br />existing under the laws of the State of North Carolina (hereinafter <br />referred to as the "EDC"); <br /> W I T N E S S E T H: that -- <br /> WHEREAS, COUNTY is authorized and empowered by the provisions <br />of Section 158-7.1(a) and Article 2 of Chapter 158 of the North <br />Carolina General Statutes to make appropriations for the purposes of <br />aiding and encouraging the location of manufacturing enterprises, <br />making industrial surveys and locating industrial and commercial <br />plants in the COUNTY and otherwise to carry out a program of <br />economic development; and <br /> WHEREAS, the EDC is a non-profit corporation organized and <br />empowered to promote economic development and expansion and new and <br />improved employment opportunities beneficial to the citizens of <br />Cabarrus County through programs and efforts to foster industrial <br />and business growth; and <br /> WHEREAS, the Board of Commissioners of Cabarrus County <br />recognizes the necessity of industrial growth and diversification to <br />the continued economic health and vitality within Cabarrus County <br />and its benefits to the citizens of Cabarrus County; and <br /> WHEREAS, the COUNTY has agreed to participate in the funding <br />of the economic development programs of the EDC, and the EDC has <br />agreed to provide a program of economic development within the <br />COUNTY in accordance with the terms of this agreement; and <br /> WHEREAS, the COUNTY, through its Finance Department, desires <br />to undertake the accounting, payroll, purchasing and related fiscal <br />duties of and for the EDC, and the EDC desires for the COUNTY so to <br />do as part of its financial commitment to the EDC, with a separate <br />and segregated trust fund for such purposes. <br /> NOW, THEREFORE, in consideration of the mutual covenants and <br />conditions herein contained, and pursuant to the authority contained <br />in the North Carolina General Statutes, the COUNTY and the EDC do <br />hereby contract and agree as follows: <br /> 1. The EDC agrees to continue to pursue an economic <br />development program for the COUNTY in which it shall: <br /> (a) Formulate projects for carrying out the <br /> economic development program, through attraction of new <br /> industries, encouragement of existing industries, <br /> encouragement of new business and industrial ventures by <br /> local as well as foreign capital, and other activities <br /> of a similar nature; <br /> (b) Conduct industrial surveys as needed, <br /> advertise in periodicals or other communications media, <br /> furnish advice and assistance to business and industrial <br /> <br /> <br />