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of the Issuer is hereby appointed the registrar, transfer agent and <br /> paying agent for the Bonds (collectively the "Bond Registrar") , <br /> subject to the right of the governing body of the Issuer to appoint <br /> another Bond Registrar, and as such shall keep at his office the <br /> books of the Issuer for the registration, registration of transfer, <br /> exchange and payment of the Bonds as provided in this resolution. <br /> Section 6. The Issuer covenants that, to the extent permitted <br /> by the Constitution and laws of the State of North Carolina, it <br /> will comply with the requirements of the Internal Revenue Code of <br /> 1986, as amended, except to the extent that the Issuer obtains an <br /> opinion of bond counsel to the effect that noncompliance would not <br /> result in interest on the Bonds being includable in the gross <br /> income of the owners of the Bonds for purposes of federal income <br /> taxation. <br /> Section 7 . The action of the Finance Director of the Issuer <br /> in applying to the Local Government Commission of North Carolina to <br /> advertise and sell the Bonds and the action of the Local Government <br /> Commission of North Carolina in asking for sealed bids for the <br /> Bonds by publishing notices and printing and distributing an <br /> Official Statement and a Supplement to such Official Statement <br /> relating to the sale of the Bonds are hereby ratified and approved. <br /> Such Official Statement, dated May 27, 1994 , and substantially in <br /> the form of the draft presented at this meeting, is hereby <br /> approved, and the Chairman of the Board of . Commissioners, the <br /> County Manager and the Finance Director of the Issuer are each <br /> 21 <br />