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027 <br />eoo~ 16 trc+ 205 <br />WHEREAS, on September 11, 1984, The Lee County Industrial <br />Facilities and Pollution Control Financing Authority (the Authority) <br />issued its $5,000,000 original principal amount Industrial Revenue <br />Bonds (Trion, Inc. Project), Series 1984 (the Prior Bonds) under the <br />North Carolina Industrial and Pollution Control Facilities Financing <br />Act (the Act) to finance the acquisition of approximately 25 acres of <br />land in Sanford, Lee County, North Carolina, the construction thereon <br />of an industrial building and the acquisition and installation <br />therein of equipment for a facility for the manufacture of <br />electrostatic precipitating equipment in Lee County (the Project) for <br />Trion, Inc., a Pennsylvania corporation (the Company); and <br />WHEREAS, the Company has requested the Authority and the <br />Authority has agreed to issue its $3,200,000 Tax-Exempt Adjustable <br />Mode Industrial Development Revenue Refunding Bonds (Trion, Inc. <br />Project) Series 1995 (the Bonds) for the purpose of providing amounts <br />necessary to refund and redeem the Prior Bonds; and <br />WHEREAS,the Authority intends to issue the Bonds in the <br />principal amount of $3,200,000; and <br />WHEREAS, under Section 159C-4 of the Act the issuance of bonds <br />under the Act must be approved by the governing body of the county in <br />which the project to be financed under the Act is located; and <br />WHEREAS, this Board has today held a public hearing with respect <br />to the Bonds; <br />NOW THEREFORE, BE IT RESOLVED BY THE BOARD OF COMMISSIONERS FOR <br />THE COUNTY OF LEE: <br />1. The refinancing of the Project, and the refunding and <br />redemption of the Prior Bonds by the issuance of bonds in the amount <br />of $3,200,000, are hereby approved. <br />2. The issuance of the Authority's Tax-Exempt Adjustable Mode <br />Industrial Development Revenue Refunding Bonds (Trion, Inc. Project), <br />Series 1995 in the principal amount of $3,200,000 is hereby approved <br />for purposes of Section 159C-4 of the Act. <br />3. The Board of Commissioners hereby approves the plan of <br />financing as required by Section 147(f) of the Code. <br />4. Messrs. Hunton & Williams, Raleigh, North Carolina, shall <br />act as Bond Counsel in connection with the issuance of the bonds, <br />with the prior approval of the transaction by LeBeouf, Lamb, Greene & <br />MacRae, the County's regular bond counsel. <br />Commissioner Dossenbach moved the passage of the foregoing <br />resolution. Commissioner Matthews seconded the motion, and upon a <br />vote, the results were as follows: <br />4 <br />