Resolution - Fin. of Lee Co. High School

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NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners for the County • of Lee, North Carolina as follows: 1. The Board hereby grants preliminary approval of the Project and the financing thereof pursuant to the terms of the Agreement. The financing of the Project pursuant to the terms of the Agreement is subject to final approval of the Board in accordance with the provision of Section 160A -20 of the General Statutes of North Carolina, as amended. 2. The Board hereby authorizes the filing of an application with the North Carolina Tax Reform Allocation Committee for a volume cap allocation for the issuance of "recovery zone economic development bonds" pursuant to the Code in an amount up to $12,000,000 to finance a portion of the costs of the Project, and the County Manager and the Finance Director of the County are hereby authorized and directed to take such actions and execute and deliver such documents as may be necessary in connection with the filing of such application. 3. This resolution shall take effect immediately upon its passage. Upon motion of Commissioner 0l rlham the foregoing resolution was adopted by the following vote: • Noes: 1, Gaynell M. Lee, Clerk to the Board of Commissioners for the County of Lee, North Carolina, DO HEREBY CERTIFY that the foregoing is a true copy of such much of the proceedings of said Board, at a regular meeting held on March 1, 2010, as it relates in any way to the passage of the foregoing resolution and that said proceedings are recorded in the minutes of said Board. 1 DO. HEREBY FURTHER CERTIFY that proper notice of such regular meeting was given as required by North Carolina law. WITNESS my hand and official seal of said County this 1st day of March, 2010. [SEAL] • Clerk' o the Board of Commissioners Gaynell M. Lee 2