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4 <br />RESOLUTYON <br />The Board of Commissioners for the County of Orange, North <br />Carolina, met in the F. Gordon Battle, Courtroom of the new <br />Orange County Courthouse, 106 E. Margaret Lane, Hillsborough; No <br />North Carolina at 7:30 P.M: on May 15, 2001. <br />Present: <br />Absent• <br />The Chair of the Board of Commissioners announced that this <br />was the hour, day and place fixed for the public hearing for the <br />purpose of considering whether the Board of Commissioners should <br />approve a proposed Installment Purchase Promissory Note and <br />Installment Purchase Deed of Trust (hereafter collectively "the <br />financing agreements") under which the County would obtain <br />financing for the purchase of approximately 131 acres of land <br />(hereafter "the Property") located in central Orange County, <br />adjacent to Mount Willing Road and other properties owned by the <br />County, for the purposes of conserving so much of the. property <br />purchased as is deemed appropriate by the County to protect <br />portions of the Seven-Mile Creek watershed toward a _"Seven-Mile <br />Creek Nature Preserve" and using the balance of the property for <br />other governmental purposes, as described in the notice of such <br />public hearing which was published in The Chapel Hill Herald on <br />May 5, 2001 and The Ne s of Oran e Count on May 9, 2001, and <br />under which the County would secure the repayment. by it of <br />moneys borrowed by granting a security interest in the property <br />purchased. <br />The Property and the use of the Property were then <br />described by the Director of the Orange County Environment and <br />Resource Conservation Department. The County Attorney presented <br />and. described the financing agreements between Orange County and <br />the owners of the property, Mayes' Hi11 Ltd., which agreements <br />describe the provisions of .the proposed installment purchase. <br />The Chair of the Board of Commissioners then announced that <br />the Board of Commissioners would immediately hear anyone who <br />might wish to be heard on this matter. <br />appeared, either in person or by <br />attorney, to be heard on such matter: <br />1 <br />