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ORANGE COUNTY <br /> BOARD OF COMMISSIONERS <br /> A RESOLUTION APPROVING A TAX-EXEMPT FINANCING ARRANGEMENT <br /> FOR EXPANSION OF THE ORANGE GROVE VOLUNTEER FIRE DEPARTMENT <br /> WHEREAS, the Orange Grove Volunteer Fire Department has represented to <br /> the Board of Commissioners that it needs to expand its existing <br /> facility; and <br /> WHEREAS, the Orange Grove Volunteer Fire Department is unable to pay <br /> anticipated project costs entirely with funds on hand; and <br /> WHEREAS, the Orange Grove Volunteer Fire Department is able to borrow <br /> funds to complete the financing of this building expansion at a <br /> favorable interest rate if the loan is approved by the unit of local <br /> government with which the fire department contracts to provide fire <br /> protection; and <br /> WHEREAS, the Board of County Commissioners desires to approve a tax- - <br /> exempt financing arrangement between the Orange Grove Volunteer Fire <br /> Department and Central Carolina Bank, or another qualified lender; <br /> NOW, THEREFORE, BE IT RESOLVED by the Board of Commissioners of Orange <br /> County that said financing arrangement is approved. <br /> This, the 15th day of March, 1994. <br />