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NORTH CAROLINA <br />ORANGE COUNTY <br />RESOLUTION OF THE BOARD <br />OF COMMISS1ONERS OF <br />ORANGE COUNTY <br />The Board of Commissioners of Orange County, North Carolina <br />(Lessee) represents that it reasonably expects that it and all <br />subordinate entities of it will not issue in the aggregate more. <br />than $10,000,000.00 of tax - exempt obligations (not counting <br />private - activity bonds except for qualified 501(c)(3) bonds as <br />defined in the Internal Revenue Code of 1986, as amended) during <br />calendar year 1990. In addition, Lessee hereby designates the <br />obligation referred to as <br />between First <br />Wachovia Leasing Corporation and Lessee as a "qualified tax - exempt <br />obligation" within the meaning of Section 265(b)(3)(B) of the <br />Internal Revenue Code of 1986, as amended. <br />Resolved this day of <br />1990. <br />ORANGE COUNTY, NORTH CAROLINA <br />Moses Carey, Jr., Chairman <br />Orange County Board of <br />Commissioners <br />I, Beverly Blythe, Clerk to the Board of Commissioners for the <br />County of Orange, North Carolina, DO HEREBY CERTIFY that the <br />foregoing is a true copy of so much of the proceedings of said <br />Board at a meeting held on as relates in any way <br />to the adoption of the foregoing Resolution and that said <br />proceedings are recorded in Minute Book No. of the minutes <br />of said Board, beginning at page and ending at page <br />W <br />