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463 The Board of Commissioners for the County of Cabarrus met in regular session at the County Courthouse in Concord, North Carolina, on Tuesday, January 3, 1984, at 9:30 A.M. Present - Chairman: James W. Lentz Commissioners: Archie Y. Barnhardt Marcelle Milloway J. Harold Nash Kenneth F. Payne The invocation was given by Father Michael Hopkins of St. James Catholic Church of Concord. UPON MOTION of Commissioner Payne, seconded by Commissioner Barnhardt and unanimously carried, the minutes of December 19, 1983, were approved as written. The Chairman stated that pursuant to Chapter 159C of the General Statutes of North Carolina and the regulations thereunder he had been advised that The Cabarrus County Industrial Facilities and Pollution Control Financing Authority (the "Authority") intended to file an application with the Secretary of the Department of Commerce for approval of an industrial and manufacturing project in Cabarrus County, North Carolina, consisting of the acquisition of approximately 18 acres of real property located on the northwest side of N.C. Highway No. 49 approximately one-fourth mile from the Mecklenburg County line in Harrisburg, North Carolina, the construction of a production building and a number of free- standing support buildings and facilities thereon and the purchase and installation therein of various items of equipment for the manufacture of windows, doors and related items (the "Project") by Morrison Millwork, Inc., a North Carolina corporation (the "Company") and to be financed for the Company by the issuance of approximately $800,000 aggregate principal amount of bonds of the Authority. Since such application for approval cannot, under regulations of the Department of Commerce, be officially received until, among other things, the Board has, by resolution after having held a public hearing, approved the issue of bonds for the proposed Project and approved the Project in principle, the Authority has recommended and requested that the Board pass such resolution. The Chairman presented copies of the Authority's resolution approving the Project and the inducement agreement between the Authority and the Company to the Board. The Chairman then stated that a notice had been published by the Clerk to the Board on December 18, 1983 stating that the Board would hold a public hearing on January 3, 1984 on the proposed revenue bond issue and the Project (the "Notice"). Commissioner Payne moved that the Board ratify the publication of the Notice and designate this meeting as a public hearing on the revenue bond issue and the Project. The motion was seconded by Commissioner Barnhardt and was unanimously adopted. At 9:35 o'clock, A~M., the Chairman announced that the Board would hear anyone who wished to be heard on the advisability of issuing the revenue bonds and the Project. The names and addresses of the persons who were present and summaries of their comments are as follows: Samuel F. Davis, Jr., Attorney, spoke on behalf of Morrison Millwork, Inc., describing the project and requesting approval of the issuance of the bonds. After the Board had heard all persons who requested to be heard, Commissioner Payne moved that the public hearing be closed. The motion was seconded by Commissioner Barnhardt and was unanimously adopted. Commissioner Payne introduced the following resolution which was read at length: Resolution No. RESOLUTION APPROVING THE ISSUANCE BY THE CABARRUS COUNTY INDUSTRIAL FACILITIES AND POLLUTION CONTROL FINANCING AUTHORITY OF ITS $800,000 INDUSTRIAL REVENUE BOND (MORRISON MILLWORK, INC. PROJECT) TO FINANCE AN INDUSTRIAL AND MANUFACTURING PROJECT IN CABARRUS COUNTY, NORTH CAROLINA FOR MORRISON MILLWORK, INC. AND APPROVING SUCH PROJECT IN PRINCIPLE.