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:cos 12 Ync_ 962 <br />The Clerk to a Board presented an affidavit showing <br />publication in a newspaper of general circulation in Lee County <br />on a date at least 14 days prior hereto of notice of the public <br />hearing. The Chairman directed that the affidavit of <br />publication be attached to this extract of minutes as Exhibit <br />A. <br />The Chairman requested that the Clerk to the Board inquire <br />in and around the Commissioners' Meeting Room to determine <br />whether there were any persons who wished to speak at the <br />public hearing. The names and addresses of the persons who <br />were present and who offered comments on the proposed issuance <br />of the qualified small issue industrial bonds to finance the <br />Project are as follows: None. <br />No one offered comments or delivered written <br />testimony. <br />After the Board had heard all persons who had requested <br />to be heard, Commissioner wicker moved that the public hearing <br />be closed. The motion was seconded by Commissioner Matthews <br />and was unanimously adopted. <br />The Chairman stated that under the Internal Revenue <br />Code of 1986, as amended, the Board must approve the issuance <br />of the Authority's qualified small issue industrial revenue <br />bonds, or the NC Authority's qualified small issue industrial <br />revenue bonds, if the interest thereon is not to be includable <br />in the gross income of the owners thereof for purposes of <br />federal income taxation. <br />Commissioner Stafford then moved for adoption of the <br />following resolution, a copy of which was distributed to each <br />commissioner and the title of which was read: <br />RESOLUTION APPROVING THE ISSUANCE OF NOT EXCEEDING <br />$900,000 AGGREGATE PRINCIPAL AMOUNT OF QUALIFIED SMALL <br />ISSUE INDUSTRIAL REVENUE BONDS OF THE LEE COUNTY <br />INDUSTRIAL FACILITIES AND POLLUTION CONTROL FINANCING <br />AUTHORITY OR OF THE NORTH CAROLINA INDUSTRIAL FACILITIES <br />AND POLLUTION CONTROL FINANCING AUTHORITY TO FINANCE A <br />PROJECT IN LEE COUNTY FOR COMMUNICATION CABLE, INC. AND <br />APPROVING THE PROJECT. <br />WHEREAS, the Board of Commissioners for the County of Lee <br />(the "Board") has created a political subdivision and body <br />corporate and politic of the State of North Carolina known as <br />"The Lee County Industrial Facilities and Pollution Control <br />Financing Authority" (the "Authority"); and <br />WHEREAS, the Authority is authorized under the Industrial <br />and Pollution Control Facilities Financing Act,Chapter 159c of <br />the General Statutes of North Carolina, as amended (the "Act"), <br />2 <br />