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423 <br /> <br /> WHEREAS, Economic Development Financing Bond repayments are <br />secured only by the additional tax revenues generated by the new <br />development and do not require increases in tax rates; and <br /> <br /> WHEREAS, North Carolina state law provides significant <br />safeguards to assure that Economic Development Financing Bonds are <br />used carefully for projects which are financially sound by requiring <br />review and approval by the state's Local Government Commission prior <br />to the issuance of these bonds and by requiring local public <br />hearings on all proposed projects. <br /> <br /> NOW, THEREFORE, BE IT RESOLVED that the Cabarrus County Board <br />of Commissioners supports the passage of the proposed amendment of <br />the State Constitution to allow issuance of Economic Development <br />Financing Bonds by local governments. <br /> <br /> BE IT FURTHER RESOLVED, that the Cabarrus County Board of <br />Commissioners urges each citizen to learn more about this important <br />public issue and to vote on November 2, 1993. <br /> <br />This the 4th day of October, 1993. <br /> <br /> /s/ Carolyn B. Carpenter <br /> Carolyn B. Carpenter, Chairman <br />ATTEST: <br /> /s/ Frankie F, Bonds <br />Frankie F. Bonds, Clerk to the Board <br /> <br />Proposal Relative to the Organization of the Economic Development Corporation, <br />Tourism Authority and a Proposed Sports Authority - Commissioner Fennel <br /> <br /> Commissioner Fennel proposed the following concept regarding a three-tiered <br />approach to the Economic Development Corporation, including the existing Tourism <br />Authority and a proposed Sports Authority. <br /> <br />Three Tiered Economic Development Organization <br /> <br /> Director of <br />Economic Development <br />and Tourism <br /> <br />GCCEDC Tourism Sports <br />Coordinator Authority Authority <br /> Coordinator Coordinator <br /> <br />*GCCEDC Coordinator Coordinates all activities of the Greater <br />Cabarrus County Economic Development Corporation. <br /> <br />*Tourism Authority Coordinator - Coordinates all activities of the <br />Cabarrus County Tourism Authority. <br /> <br />*Sports Authority Coordinator - Coordinates all activities of the <br />Cabarrus County Sports Authority, which will be a non-profit <br />corporation dedicated to using sports as an economic development <br />tool. <br /> <br /> UPON MOTION of Commissioner Fennel, seconded by Commissioner Barnhart and <br />unanimously carried, the Board appointed the following persons to study the <br />organization of the Economic Development Corporation, Tourism Authority, and <br />Sports Authority as proposed by Commissioner Fennel: Mr. Fletcher Hartsell, Jr., <br />County Attorney; Mr. Blair Bennett, Finance Director; Mr. Don Moorhead, Personnel <br />Director; Mr. Doug Stafford, Tourism Authority; Commissioner Barnhart, Economic <br />Development Corporation; Commissioner Fennel; and Mr. Steve Little, Parks and <br />Recreation Director. <br /> <br /> <br />