1984 - 06-18-84 Regular Meeting - Laserfiche WebLink

Home Browse Search

J~J- O:v) 11 501. motion was seconded by Commissioner Almond and was unanimously adopted. Commissioner John E. Dotterer moved that he be excused from having to vote on this issue since he had a financial interest in Trion, Inc., as a stockholder. Commissioner Jerry M. Almond moved fliat Commissioner Dotterer be allowed to abstain from voting on this issue. Commissioner John R. Dossenbach, Jr. , seconded the motion and upon a vote it 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 pblitic.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 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 $5, 000, 000 to pay all or a portion of the costs of the acquisition, construction and installation of additional industrial facilities in the unincorporated area of Lee County on McNeill Road for the manufacture of electrostatic precipitating equipment, including land, buildings and equipment (the "Project") to be operated by Trion, Inc. ; and WHEREAS, the Authority intends to file an application 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, provided that no application for approval of a project will be officially received until the elected board of county commissioners of the county from which the application is made has, by resoltuion 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