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INK 11 PArr 48 <br />1 <br />After the Board had heard all persons who re- <br />quested to be heard, Commissioner Dossenbach moved <br />that the public hearing be closed. The motion was <br />seconded by Commissioner <br />Matthews <br />and was <br />unanimously adopted. <br />The Chairman then advised the Board of the <br />Authority's adoption of a bond resolution authorizing the <br />issuance of $6,800,000 industrial revenue bonds and the <br />execution and delivery of financing documents pertaining <br />to the financing of the project for the Company.. <br />A representative of the Authority submitted to <br />the Board drafts of a Purchase Contract proposed to be <br />entered into by the Authority and Smith Barney, Harris <br />Upham & Co. Incorporated (the "Underwriter"), a Trust <br />Indenture between the Authority and Dominion Trust <br />Comoany, as Trustee, (the "Trustee"), and a Loan Agreement <br />between the Authority and the Company. The representative <br />further stated that the Purchase Contract set forth the <br />terms of the industrial revenue bond financing, including <br />the proposed issuance and sale of the bonds to the Under- <br />writer at a Price of 98% of the principal amount thereof <br />plus accrued interest from February 1, 1983 and requested <br />that the Board approve the issuance of the Bonds. <br />Commissioner Almond <br />then <br />introduced the following resolution which was read at <br />length: <br />