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

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loc. :U ?Ac,! .750 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 purpose, 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 financing agreements, security documents and other contracts and instruments necess- ary 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 $2, 500, 000 to pay all or a portion of the costs of the acquisi- tion of land, the acquisition and rehabilitation of a building and the acquisition and installation of machinery and equip- ment for the manufacturing of furniture (the "Project") to be owned and operated by Khoury, Inc. ; and WHEREAS, the Authority intends to file an applica- tion for approval of the Project with the Secretary of the Department of Commerce (the "Department"), as required by the Act; and WHEREAS, the Department has, by regulation, pro- vided that no application for approval of a project will.'. be officially received until the elected board of county commiss- ioners of the county from which the application is made has, by resolution after a public hearing, approved the issue of revenue bonds and approved in principle the proposed project and a certified copy of such resolution has been provided to the Department; and WHEREAS, the Board of County Commissioners, pursuant to public notice duly given, has held a public hearing on the advisability of the Project and the issuance of revenue bonds to finance the Project and has considered the comments of persons who requested to be heard; and