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i 0457& r <br /> North Carolina, consisting of acquiring a 20 acre site near <br /> Hillsborolzgh, in Orange County, constructing thereon 2 one- <br /> story buildings each of approximately 25,000 square feet and <br /> equipping the same with suitable machinery and equipment <br /> used in the manufacture of nameplates and other specialty <br /> items to be financed for W. H. Brady Co. by not exceeding <br /> $2,O00,000 aggregate principal amount of bonds of the <br /> Authority. Since such application for approval cannot, <br /> under regulations of the Department of Commerce, be officially <br /> received until, among other things, the Board approves the <br /> project in principle, the Authority has recommended and <br /> requested that the Board pass a resolution approving the <br /> project in principle without in any way prejudicing the <br /> right and responsibility of the Board under G.S. 159C--4(d) <br /> to approve or not to approve the issuance of the bonds after <br /> the Department of Commerce has approved the project and the <br /> Local Government Commission has approved the bond issue, by <br /> which time additional information rela.tive to the project, <br /> the company and the proposed financing will have been <br /> developed. <br /> Thereupon, Commissioner Anne Barnes <br /> introduced the <br /> following resolution which was read: <br /> RESOLUTION OF APPROVAL IN PRINCIPLE OF <br /> INDUSTRIAL AN <br /> IN ORANGE COUNTYI, A PROJECT <br /> NORTH A, TO BE <br /> FINANCED FOR W. H. BRADY CO. BY NOT <br /> EXCEEDING *$2,000,000 AGGREGATE PRINCIPAL <br /> AMOUNT OF BONDS OF THE ORANGE COUNTY <br /> INDUSTRIAL FACILITIES AND POLLUTION <br /> CONTROL FINANCING AUTHORITY. <br />