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0 BuOK 17 PAGE 559 009 <br />The Chairman ruled the motion had been adopted unanimously. <br />Mr. Cowan discussed with the Board the need for a Deed of Trust on the lease <br />of the proposed property where the building is to be constructed. County Attorney K. <br />R. Hoyle is currently working on an amendment to the lease to remove any provisions <br />which might prevent competitive bids by lenders. Chairman Hincks asked Board <br />members to contact Mr. Hoyle if they had any comments pertaining to the title. <br />Mr. Cowan discussed authorization to file an application with the local <br />government Commission for an installment purchase agreement. Commissioner <br />Garner moved to approve the following: <br />WHEREAS, the County of Lee desires to provide for the construction of new <br />facilities to house the Cooperative Extension Service and other agricultural related <br />agencies and for the acquisition and installation of furniture and equipment (the <br />"Project") to better serve the citizens of Lee County; and <br />WHEREAS, the County of Lee desires to finance the Project by use of an <br />installment contract authorized under North Carolina General Statutes Chapter 160A, <br />Article 3, Section 20; <br />NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of <br />Lee County as follows: <br />1. That the Officers of the Board, the County Manager, and staff are <br />authorized and directed to proceed with planning to finance the Project <br />using the installment contract procedure. <br />2. That the County Manager is hereby authorized to act on behalf of the <br />County of Lee in filing an application with the North Carolina Local <br />Government Commission for approval of the Project and the proposed <br />financing contract and other actions not inconsistent with this resolution. <br />3. That the Finance Director is authorized and directed to seek proposals from <br />at least three banks for installment contract financing of the Project. <br />Upon a vote, the results were as follows: <br />Aye: Adams, Garner, Hincks, Matthews, Paschal, Reives, and Sauls <br />Nay: None <br />The Chairman ruled the motion had been adopted unanimously. <br />4 <br />