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0 <br />gnq{ 10 ' VE 609. <br />and delivery of an inducement agreement pertaining to the financing of an <br />industrial project for TRW Inc. , operating through its wholly-owned <br />subsidiary, Sherwood Refractories, Inc. The representative delivered <br />copies of the resolution and the inducement agreement to the Board. A <br />discussion of the project took place. <br />Commissioner Lila P. Nielsen introduced the following <br />resolution which was read at length: <br />WHEREAS, the Board of County Commissioners has created a <br />political subdivision and body corporate and politic of the State of North <br />Carolina known as "The Lee County Industrial Facilities and Pollution <br />Control Financing Authority"(the "Authority"); and <br />WHEREAS, the Authority is authorized under the Industrial and <br />Pollution Control Facilities Financing Act, Chapter 159C of the General <br />Statute of North Carolina (the "Act"), to issue revenue bonds for the <br />purpose, among others, of paying all or any part of the cost of any <br />industrial or pollution control project for industry; to acquire, construct, <br />improve and equip any such project; and to make and execute financing <br />agreements, security documents and other contracts and instruments <br />necessary or convenient in the exercise of such powers; and <br />WHEREAS, the Authority has determined to issue its revenue <br />bonds to pay all or a portion of the costs of the acquisition, construction <br />