1985 - 06-03-85 Regular Meeting - Laserfiche WebLink

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R ~ ' 1 iioJ1 11 oxoE 747 Q At 9:35 o'clock A. M. , the Chairman announced that the Board would hear anyone who wished to be heard on the advisability of the proposed project and the issuance of revenue bonds to finance the project and that a repre- sentative of the Authority was present and was prepared to discuss the details concerning the proposed project and bond issue. The names and addresses of the persons who were present, summaries of their oral comments and copies of their written comments are set forth below: Mr. Dennis Wicker, an officer of Optimol Manufacturing appeared and reviewed the history of the company and explained the nature of the products and the plans for the Sanford plant. After the Board had heard all persons who requested to be heard, Commissioner Dossenbach moved that the public hearing be closed. The motion was seconded by Commissioner Matthews and was unanimously adopted. Commissioner Dossenbach then introduced the following resolution which was read at length: WHEREAS, the Board of County Commissioners has created a political subdivision and body corporate and politic of the State of North Carolina known as "The Lee County Industrial Facilities and Pollution Control Financing Authority" (the "Authority"); and WHEREAS, the Authority is authorized under the Industrial and Pollution Control Facilities Financing Act, Chapter 159C of the General Statutes of North Carolina, as amended (the "Act to issue revenue bonds for the pur- pose, among others, of paying all or any part of the cost of any industrial project for industry, to acquire, construct and equip any such project, and to make and execute finan- cing agreements, security documents and other contracts and in- struments necessary or convenient in the exercise of such powers; and WHEREAS, the Authority has determined to issue its revenue bonds in the principal amount of not more than $1, 000, 000 to pay all or a portion of the costs of the con- struction of a building and the acquisition and installation of machinery and equipment for the manufacturing of lubricants (the "Project") to be owned by Optilube, Inc. and operated by Optimol Manufacturing, Inc. ; and