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BOOK, , ~ PAGE.
<br />that the Bond Purchase Contract.set forth the terms "of the revenue bond
<br />4
<br />financings including the. proposed'sale of the Bonds to First Union National
<br />Bank'of North Carolina, and requested that the Board approve the issuance of
<br />the revenue bonds contemplated thereby.- ' A discussion of the bond issue ensued,
<br />Commissioner Dotterer introduced 'the following resolution which
<br />was read at`length:
<br />WHEREAS the Board of County-Gommissioners has
<br />created a political subdivision and body corporate and politic of the State of
<br />North Carolina-known as "The Lee County'Industrial Facilities and Pollution
<br />ControlFinancing Authority" (the,"Authority");'and`;.
<br />WHEREAS the Authority. is authorized under the
<br />Industrialand Pollution Control Facilities Finaricing,Act,-Chapter 15.9C of the . .z• .
<br />General Statutes of North Carolina, as amended (the "Act"),, to issue revenue
<br />bonds for the purposes among others,, of paying all or` any, part of the cost of any
<br />industrial-project for industry, to acquire,-, construct and equip any, such project,,
<br />and to make and execute lease agreements, security. documents and other contracts
<br />and instruments necessary or convenient in the exe' rcise;of such powers; and
<br />WHEREAS,' the Authority has determined to issue.
<br />$8500 000 principal amount of its Industrial Development Revenue Bonds (Trion,
<br />Inc. Project- 1977) (the "Bonds")'to pay all or_part of the cost of acquisition,
<br />construction and installation'of a.certain industrial facility in Lee -County,North
<br />Carolina, for the manufacture of electronic and metal products (the "Projectand
<br />to lease the Project-to Trion, Inc.; and
<br />WHEREAS, the Board has heretofore-approved the Project
<br />in principle;. and
<br />WHEREAS,. the Act,provides that,no bonds shall,be issued
<br />thereunder unless the issuance thereof shall have been approved by the governing
<br />body of the County and the Board desires to,approve'the issuance of the Bonds by the-
<br />Authority,;'and , -
<br />WHEREAS; the Board has' considered the Bond'Purchase
<br />Contract pre sented.to it setting forth the terms of the revenue.bond financing;
<br />NOW, THEREFORE; '
<br />_ 'BE IT, RESOLVED by'th'e'Board 'of County Commissioners
<br />-of the County of. Lee, as follows. -
<br />(1) The issuance-of-the' Bonds by the
<br />Authority is hereby approved'.
<br />(2) The Clerk of the.:Board of, Commtis'sioners
<br />_is hereby authorized and directed toLLprovidelcertified copies of this -
<br />resolution to, the Local Government'Commission and the Department
<br />of Commerce of North' Carolina. ;
<br />A.
<br />
<br />_ T his resolution;shall. take effectammediately
<br />upon dts:'passage.
<br />Commissioner Dotterer'moved the passage of the foregoing ;
<br />resolution and GOmTYlisM 'ner Gordon A. Wicker seconded the motion, and the.
<br />resolution was'passed,by the'following vote: _
<br />AYES: John E. Dotterer, Clyde J. Rhyne, Franklin D. .
<br />Wicker,, Gordon A. Wicker and. William H,, Cooper
<br />NAYS; None
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