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0?3 <br />Boos 17 Pr,cr 1 70 <br />STATE OF NORTH CAROLINA ) <br />CONTRACT <br />COUNTY OF LEE ) <br />This CONTRACT made and entered into this the 1st day of <br />December 1997 by and between the COUNTY OF LEE, one of the counties of <br />the State of North Carolina, and a body both politic and corporate, hereinafter referred to <br />as COUNTY, and LEE COUNTY ECONOMIC DEVELOPMENT CORPORATION, a <br />non-profit corporation organized and existing under the laws of the State of North <br />Carolina, hereinafter referred to as LCEDC; <br />WITNESSETH: <br />WHEREAS, Chapter 158 of the General Statutes of North Carolina authorizes <br />counties to engage in economic development activities; and <br />WHEREAS, North Carolina General Statute 153A-449 authorizes counties to <br />contract with and appropriate money to a corporation to carry out any public purpose that <br />a County is authorized by law to perform; and <br />WHEREAS, it is the sense of the Board of Commissioners for Lee County that the <br />County should engage in economic development activities and that the LCEDC should be <br />employed to undertake such activities on behalf of the County; and <br />WHEREAS, LCEDC, by action of its Board of Directors, has indicated its <br />willingness to perform such activities on behalf of the County; and <br />WHEREAS, both parties desire a written memorandum of their agreement; <br />NOW, THEREFORE, in consideration of the premises, the sums to be paid, and <br />the mutual promises herein set out, the parties have mutually agreed as follows: <br />1. County hereby engages LCEDC to carry out a program of economic <br />development in keeping with the authority granted to it by Chapter 158 of the General <br />Statutes of North Carolina and LCEDC accepts such engagement and promises to <br />perform and carry out such a program. <br />2. County agrees to make a budgetary appropriation for the personnel in the <br />amount of $92.755.00 for the fiscal year July 1, 1997 - June 30, 1998. The County agrees <br />to employ as its Economic Development Director the individual selected by LCEDC. <br />Such director may employ clerical staff from the balance of funds available, taking into <br />consideration that the director and staff will be County employees and entitled to health <br />Page 1 of 4 <br />