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EXTRACT FROM MINUTES OF BOARD OF COMMISSIONERS OF <br />THE COUNTY OF CABARRUS, NORTH CAROLINA <br />The Board of Commissioners for the County of Cabarrus, North Carolina, met in regular <br />session in <br />Concord, North Carolina, the regular place of meeting, at 6:30 p.m., on March 21, 2022, with <br />Stephen M. Morris, Chairman, presiding. The following Commissioners were: <br />PRESENT: Chairman Stephen M. Morris; Vice Chairman F. Blake Kiger and <br />Commissioners Diane R. Honeycutt, Barbara Strang and Lynn W. Shue. <br />ABSENT: \[None.\] <br />ALSO PRESENT: Michael K. Downs, County Manager; Wendi Heglar, Finance Director; <br />Richard M. Koch, Esq., County Attorney; and Lauren Linker, Clerk to the Board. <br />* * * * * <br />Chairman Stephen M. Morris introduced the following resolution, and its title was read: <br />SUPPLEMENTAL RESOLUTION DECLARING OFFICIAL INTENT TO <br />REIMBURSE EXPENDITURES WITH PROCEEDS OF DEBT PURSUANT TO <br />UNITED STATES DEPARTMENT OF TREASURY REGULATIONS <br /> <br /> BE IT RESOLVED by the Board of Commissioners of Cabarrus County: <br /> Section 1. The Board hereby finds, determines and declares as follows: <br />(a) On December 21, 2020, the Board adopted a prior resolution declaring <br />official intent to reimburse expenditures with proceeds of debt for <br />the EMS Project, as described in the Prior Resolution, a copy of which is attached hereto <br />as Exhibit A. <br />(b) At the time of adoption of the Prior Resolution, the Board reasonably <br />expected that the maximum principal amount of debt to be incurred with respect to the <br />EMS Project would be $16,000,000. <br />(c) As of the date of this supplemental resolution, the Board now reasonably <br />expects that the maximum principal amount of debt to be incurred with respect to the EMS <br />Project instead will be $\[18,000,000\], and desires to amend the maximum principal amount <br />of debt stated in the Prior Resolution to reflect the same. <br />(d) The maximum principal amount of debt to be incurred for the EMS Project <br />that was set forth in the Prior Resolution is hereby amended to be $\[18,000,000\]. <br />(e) Except as supplemented hereby, the Prior Resolution adopted on December <br />21, 2020 shall remain in full force and effect. <br />Section 2. This resolution shall take effect immediately. <br /> <br />