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Section 1. The Board of Commissioners has determined <br /> and does hereby declare as follows: <br /> (a) The Board of} Commissioners of Orange County, Indus'.rial <br /> Facilities and Pollution Control Financing Authority (i:^_rein <br /> referred to as the "Authority") will meet on February 5, 148n, <br /> and will take the following action in connection with the proposer <br /> issuance and sale of the Authority's Industrial Revenue Bonn <br /> (W.H. Brady Co. Project) in the principal amount of X2,000,000: <br /> 1. approve and authorize the execution and delivery <br /> of a Loan Agreement:, dated as of January 1, 1980, <br /> by and between the Authority and W.H. Brady Cc. (t.h,-�t <br /> „Company") c <br /> 2. approve and authorize the execution: and delivery <br /> of an Assignment dated as of January 1, 1980, front <br /> the Authority to North Carolina National Bank (thy <br /> "Purchaser") ; <br /> 3. approve and authorize the execution and delivery <br /> of the Security Agreement, dated as of January 1, <br /> 1980 by and between the Company and the Authority; <br /> 9. approve and authorize the acceptance, endorsement <br /> without recourse and pledge of a promissory note, <br /> dated February w, 1980 of the Company; <br /> 5. aF prove : Deed of Trust, dateJ as of January 1, 140 <br /> from the company to ,john G. Geist, Trustee, for tYp <br /> benefit of the Authority; <br /> s <br /> n <br />