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Aft <br />BUN i~ IacE age G 1 0 <br />DECLARATION OF OFFICIAL INTENT TO REIMBURSE <br />This declaration (the "Declaration") is made pursuant to the requirements of the United <br />States Treasury Regulations and is intended to constitute a Declaration of Official Intent to <br />Reimburse under such Treasury Regulations. <br />The undersigned is authorized to declare the official intent of the County of Lee, North <br />Carolina (the "issuer") with respect to the matters contained herein. <br />Expenditures to be Incurred. The Issuer anticipates incurring expenditures (the <br />"Expenditures") to construct a telecommunications facility in the County, including <br />the acquisition and construction of a new facility, including the acquisition and <br />installation of necessary furnishings and equipment and the acquisition of land or <br />rights-in-land required therefor. Project cost is estimated to be at least $2,500,000. <br />2. Plan of Finance. The Issuer intends to finance costs of the Project with proceeds of <br />debt to be issued by the Issuer (the "Borrowing"). <br />3. Maximum Prinicipal Amount of Debt to be Issued. The maximum principal <br />amount of the borrowing to be incurred by the Issuer to finance the Project is <br />$2,500,000. <br />4. Declaration of Official Intent to Reimburse. The Issuer hereby declares its official <br />intent to reimburse itself or Central Carolina Conum unity College with the proceeds <br />of the Borrowing for any of the Expenditures incurred by either of them prior to the <br />issuance of the Borrowing. <br />Board of Commissioners <br />County of Lee <br />North Carolina <br />Dated: July 9, 2001 <br />