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1989 - 11-06-89 Regular Meeting
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1989 - 11-06-89 Regular Meeting
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Minutes
Committee
Board of Commissioners
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.:70 12 rn _ .961 <br />MIY~JTES OF THE REGULAR MEETING <br />OF <br />THE BOARD OF COMMISSIONERS <br />FOR <br />THE COUNTY OF LEE, STATE OF NORTH CAROLINA <br />Monday, November 6, 1989 <br />I/ <br />The regular meeting of the Board of Commissioners for the <br />County of Lee, State of North Carolina, convened at 9:30 A.M. <br />on Monday, November 6, 1989, in the Commissioners, room on the <br />second floor of the County Office Building, 200 Wicker Street, <br />Sanford, North Carolina. Those present were: Commissioners <br />Albert L. Cox, Bertha L. Matthews, William C. Stafford, Jr. <br />and Gordon A. Wicker. Commissioner John R. Dossenbach, Jr. was <br />absent. Chairman Cox declared a quorum present and the meeting <br />open for the transaction of business. <br />Chairman Albert L. Cox presided and the following business <br />was transacted: <br />The invocation was given by County Attorney, K. R. Hoyle. <br />The Chairman of the Board of Commissioners for the County <br />of Lee (the "Board") announced that the Board would proceed to <br />hold a public hearing and would hear anyone who wished to be <br />heard on the proposed issuance by the Lee County Industrial <br />Facilities and pollution Control Financing Authority (the <br />"Authority") or by the North Carolina Industrial Facilities and <br />Pollution Control Financing Authority (the 'INC Authority") of <br />not exceeding $900,000 aggregate principal amount of its <br />qualified small issue industrial revenue bonds to pay all or a <br />portion of the cost of the acquisition of a parcel of land and <br />the existing building located thereon at 2801 Lemon Springs <br />Road in Sanford, Lee County, North Carolina and the renovation <br />of said building, all to be used by the Company for the <br />manufacturing of electrical products (the Project"). The <br />Project is to be owned and operated by Communication Cable, <br />Inc., a North Carolina corporation (the "Company") and is to be <br />located wholly within Lee County. <br />The Chairman stated that the Authority had adopted a <br />resolution expressing its intention to issue qualified small <br />issue industrial revenue bonds and authorizing the execution <br />and delivery of a memorandum of agreement pertaining to the <br />financing of the Project for the Company. The resolution <br />provides that if the Company deems it to be economically <br />desirable, the Company may request that such bonds be issued by <br />the NC Authority. The Chairman then submitted copies of the <br />resolution and the memorandum of agreement to the Board. <br />
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