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The Chair then announced that the Board of Commissioners would immediately hear <br /> anyone who might wish to be heard on the advisability of the proposed Project or the financing <br /> as so described. <br /> A list of any persons making comments and a summary of such comments are attached as <br /> Exhibit B hereto. <br /> All statements and comments were duly considered by the Board of Commissioners. <br /> Thereupon, Chairman Kirk Smith introduced the following resolution, the title of which <br /> was read and a copy of which had been distributed to each Commissioner: <br /> RESOLUTION AUTHORIZING THE EXECUTION AND DELIVERY OF <br /> AN INSTALLMENT FINANCING AGREEMENT, A DEED OF TRUST <br /> AND RELATED DOCUMENTS IN CONNECTION WITH THE <br /> FINANCING OF THE ACQUISITION OF A SITE AND EXISTING <br /> FACILITIES TO BE USED BY CENTRAL CAROLINA COMMUNITY <br /> COLLEGE <br /> BE IT RESOLVED by the Board of Commissioners (the"Board") for the County of Lee, <br /> North Carolina(the "County") as follows: <br /> Section 1. The Board does hereby find and determine as follows: <br /> (a) There exists in the County a need to finance the costs of acquiring an approximately <br /> 22-acre site and existing facilities currently owned by Magneti Marelli Power Train USA, LLC <br /> to be used by Central Carolina Community College(the"Project"). <br /> (b) After a public hearing and due consideration, the Board has determined that the most <br /> efficient manner of financing the Project will be through entering into an Installment Financing <br /> Agreement, to be dated as of the date of delivery thereof (the "Agreement"), with Regions <br /> Commercial Equipment Finance, LLC (the "Lender") pursuant to Section 160A-20 of the <br /> General Statutes of North Carolina, as amended. Pursuant to the Agreement, the Lender will <br /> advance moneys to the County in an amount sufficient to pay the costs of the Project and the <br /> 2 <br />