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• <br /> II _ • <br /> Authority 's industrial development revenue bonds if the interest <br /> thereon is to be exempt from federal income tax. <br /> Commissioner Wilihoit then introduced the <br /> following resolution, a copy of which was distributed to each <br /> Commissioner and the title of which was read: • <br /> RESOLUTION APPROVING THE ISSUANCE OF NOT EXCEEDING <br /> $1,500,000 AGGREGATE PRINCIPAL AMOUNT OF INDUSTRIAL <br /> DEVELOPMENT REVENUE BONDS OF THE ORANGE COUNTY <br /> INDUSTRIAL FACILITIES AND POLLUTION CONTROL FINANCING <br /> AUTHORITY TO FINANCE AN INDUSTRIAL PROJECT FOR <br /> ISOTECHNOLOGIES, INC. AND APPROVING THE INDUSTRIAL <br /> PROJECT. <br /> WHEREAS, the Board of Commissioners for the County of Orange <br /> (the "Board" ) has created a political subdivision and body <br /> corporate and politic of the State of North Carolina known as <br /> "The Orange County Industrial Facilities and Pollution Control <br /> Financing Authority" (the "Authority" ) ; and <br /> WHEREAS, the Authority is authorized under the Industrial <br /> and Pollution Control Facilities Financing Act, Chapter 159C of <br /> the General Statutes of North Carolina, as amended (the "Act" ) , <br /> to issue revenue bonds for the purpose, among others, of paying <br /> of the cost of any industrial or pollution <br /> all or any part o y p <br /> control project for industry; to acquire, construct, improve and <br /> equip any such project; and to make and execute financing <br /> agreements, security documents and other contracts and <br /> , instruments necessary or convenient in the exercise of such <br /> powers; and <br /> 4 <br /> 4. <br />